The federal banking agencies finalized a new set of call report revisions for institutions with domestic offices only and less than $1 billion in total assets. The agencies said their plan would remove, raise the reporting threshold for, or reduce the reporting frequency of approximately 7 percent of call report data items, effective June 30.
Regulators already last year implemented reforms that cut the call report from 85 to 61 pages for roughly 5,200 institutions with less than $1 billion in assets. And they subsequently issued an additional proposal in November to remove or consolidate data items and raise certain reporting thresholds.
ICBA continues calling on policymakers to go further to enact meaningful relief, such as by implementing a short-form call report for the first and third quarters of each year. Robert Fisher, president and CEO of Tioga State Bank in Spencer, N.Y., next week is slated to testify before Congress on behalf of ICBA in favor of call report and other regulatory relief legislation.
Read the Final Rule