The American Bankers Association today responded to the federal regulatory agencies’ request for comment on further revisions to the Call Report that would simplify the report for banks by removing or consolidating a number of existing data items, reducing the reporting frequency for other data items and increasing certain reporting thresholds.
While ABA supported the agencies’ efforts to eliminate unnecessary items from the report, it raised concerns about a few of the proposed changes. Specifically, ABA opposed revisions that would align the method for determining the past-due status of certain loans and other asserts with an accepted industry standard, noting that it would “impose significant costs on the industry with little regulatory or supervisory benefit.” ABA also opposed a proposal to move banks with more than $100 billion in assets to the FFIEC 031, which would effectively create three Call Reports.
ABA has been heavily involved in the ongoing process to streamline the Call Report, which the agencies initiated in response to the association’s comments submitted through Economic Growth and Regulatory Paperwork Reduction Act process. As part of the initiative, ABA has facilitated numerous conversations between bankers and regulators to explain Call Report burdens and offer suggestions for its improvement. For more information, contact ABA’s Alison Touhey.