ABA and The Clearing House today expressed support for the Federal Financial Institutions Examination Council’s proposed improvements to the Call Report, and they strongly encouraged the council to pursue its idea of creating a more streamlined Call Report for smaller institutions.
“Given the diversity in bank business models, there is ample scope and necessity for tailoring Call Report requirements to the conditions of the various banks,” the groups said in a comment letter.
They also urged the FFIEC to establish an industry advisory committee to provide guidance on issues related to FFIEC reports and to work to ensure other required forms are updated simultaneously. In addition, FFIEC should allow sufficient time for institutions to implement reporting changes, release final instruction updates at least a quarter before implementation and provide ongoing training, they said.
