The results are indisputable! Community bankers’ strong advocacy efforts, combined with those of the ICBA and CBAI, have led to the long-awaited proposed changes to the Call Report requirements for community banks.
In August of 2014, approximately 15,000 community bankers (over 1,000 of which were from Illinois) signed an ICBA petition to the Federal Financial Institutions Examination Council (FFIEC) calling for relief from increasingly onerous quarterly Call Report requirements.
In a September of 2014 comment letter to FFIEC, as part of the EGRPRA process to eliminate of unnecessary or outdated regulations, CBAI proposed that certain community banks be entitled to file short-form Call reports for the quarters ending March and September and file full Call Reports for the other quarters.
In a November of 2015 comment letter regarding a FFIEC proposal, CBAI called for meaningful regulatory relief for community banks by streamlining the existing Call Report and renewed its call to provide a short-form version of the Call Report for two of the four quarters. CBAI stated that regulatory relief for community banks must be the Agencies number one priority. The Agencies' current efforts at meaningful regulatory relief are insufficient and much more needs to be accomplished.
Finally, on August 5, 2016, a proposal was released by the banking regulators to implement Call Report regulatory relief. The regulators have proposed that domestic banks with less than $1 billion in assets, approximately 90% of filers, would qualify for a streamlined Call Report. This new report would have 40% fewer data items, bringing the number down from roughly 2,400 to 1,450 and the page count down from 85 to 61. The agencies intend to begin implementing the changes on March 31, 2017.
CBAI will be carefully reviewing the 57 page proposal and provide our observations and recommendations for improvements. Read FFIEC News Release.
August 5, 2016