ICBA is encouraged that the FFIEC is evaluating the creation of a streamlined version of the quarterly call report for community banks....
Washington, D.C. (PRWEB) September 09, 2015
Independent Community Bankers of America® (ICBA) President and CEO Camden R. Fine released this statement on the Federal Financial Institutions Examination Council’s (FFIEC) proposal to simplify community bank call reports.
“While ICBA is closely reviewing the FFIEC’s proposal to ease reporting burdens on community banks, we strongly support the regulators’ effort to address the industry’s concerns with quarterly reporting requirements. ICBA is encouraged that the FFIEC is evaluating the creation of a streamlined version of the quarterly call report for community banks, is continuing its dialogue with community institutions to identify areas in need of reform, and is proposing to delete certain data items and revise reporting thresholds.
“The announcement comes a year after ICBA met with the FFIEC to deliver a petition with nearly 15,000 signatures urging call report relief. ICBA’s petition cites data from the 2014 ICBA Community Bank Call Report Burden Survey, which found that the annual cost of preparing the call report has increased for 86 percent of respondents over the past 10 years. According to ICBA’s survey, 98 percent of respondents said a short-form call report would reduce their regulatory burden, and 72 percent said the reduction would be ‘substantial.’
“ICBA will continue working with the FFIEC to implement meaningful regulatory relief for community banks.”
The Independent Community Bankers of America®, the nation’s voice for more than 6,000 community banks of all sizes and charter types, is dedicated exclusively to representing the interests of the community banking industry and its membership through effective advocacy, best-in-class education and high-quality products and services. For more information, visit http://www.icba.org.