Bank Regulators Propose 'Streamlined' Call Reports For Qualifying Small Institutions

The Federal Reserve Board, the FDIC and the Office of the Comptroller of the Currency (collectively, the "agencies") proposed rules that would reduce regulatory reporting requirements for eligible small depository institutions. The rule proposals would implement Section 205 (Financial Reporting Requirements for Small Banks) of the Economic Growth, Regulatory Relief and Consumer Protection Act.

The agencies stated the proposals would permit insured depository institutions with assets of less than $5 billion that (i) have no foreign offices and (ii) do not engage in "certain complex or international activities" to file the more "streamlined" FFIEC 051 Call Report. In addition, the agencies proposed to reduce significantly the number of...

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