Comments due on reduced Call Report burden
The OCC, Federal Reserve and FDIC have jointly proposed for public comment a rule that would permit insured depository institutions with total assets of less than $5 billion that do not engage in certain complex or international activities to file the most streamlined version of the Call Report, the FFIEC 051 Call Report. The agencies also are proposing to reduce by approximately 37 percent the number of existing data items reportable in the FFIEC 051 Call Reports for the first and third calendar quarters.
The Federal Reserve Board and the OCC also are proposing similar reduced reporting for certain uninsured institutions that they supervise with less than $5 billion in total consolidated assets that meet the same criteria. Comments on the proposal will be accepted for 60 days following publication.
The changes are required by section 205 of EGRRCPA.
UPDATE: Published at 83 FR 58458 on 11/19/18, with comments due 1/18/19.