ICBA told the federal banking agencies that streamlining the call report is a simple but effective step to reduce the regulatory burdens that weigh on community banks.
Details: In a letter responding to a request for information on streamlining the call report, ICBA urged the agencies to right-size this burden by allowing community banks to report a balance sheet, income statement, and statement of changes in shareholders’ equity in a concise set of limited schedules in the first and third quarters.
ICBA Advocacy:
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ICBA has long advocated call report relief, including expanding on the ICBA-advocated call report relief contained in the Economic Growth, Regulatory Relief, and Consumer Protection Act (S. 2155).
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In a letter to Fed Vice Chair Michelle Bowman in July, ICBA called on regulators to provide a true short-form call report containing only the bank’s financial statements and key capital metrics in a concise set of limited schedules.
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In a previous letter to the agencies, ICBA said regulators need to do more to streamline the call report, including focusing on the frequency of items reported by community banks and whether quarterly reporting adds meaningful value in determining safety and soundness.