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Federal Financial Institutions Examination Council Suggests Changes to Call Report for Small Institutions

Federal Financial Institutions Examination Council Suggests Changes to Call Report for Small Institutions
Wednesday, August 10, 2016
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The Federal Financial Institutions Examination Council (FFIEC) on Friday announced that it will accept public comment on proposed revisions to the existing Consolidated Reports of Condition and Income (FFIEC 041) that would apply to institutions with less than $1 billion in assets. The amended Call Report would contain roughly 40 percent fewer data items, create a new collection schedule, and reduce the reporting frequency of certain information. These changes would take effect for the March 31, 2017 report date.

FFIEC offers the following proposals for comment:

  • Replacement of partial or entire schedules with a supplemental schedule, particularly pertaining to complex or specialized activities;

  • Elimination of data disclosed during the Full Report of the Call Report, and review of infrequently reported items;

  • Changes to data collection frequency of some items to a less than quarterly basis;

  • Exclusion of data items for which there is a reporting threshold;

  • Amended requirements for reporting status, to be determined by asset levels or activity thresholds over consecutive quarters.

In a notice scheduled to appear in the Federal Register, FFIEC references three specific actions as the basis for its policy proposal: outreach to community banks via meetings and review of the Economic Growth and Regulatory Paperwork Reduction Act (EGRPRA), surveys of Call Report data end-users at FFIEC member agencies, and feasibility studies of simplified reporting for small institutions.

The draft notice is available here. Interested parties will have 60 days after publication of the notice to comment. 

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