The federal banking regulators requested input on sources of regulatory reporting burden for institutions that file the call report.
Details: The request for information asks stakeholders to identify ways that the agencies could streamline the call report forms and instructions while still meeting the purposes of the collection. Comments must be submitted by Jan. 30.
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 letter to the agencies last year, 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.