Federal Register: Bank Regulators Adopt "Streamlined" Call Reports for Qualifying Small Institutions

The Federal Reserve Board, FDIC and Office of the Comptroller of the Currency rule release, adopting rules to reduce reporting requirements for eligible small depository institutions, was published in the Federal Register. These rules will become effective on July 22, 2019.

As previously covered, the rules will:

• expand the eligibility for filing more "streamlined" FFIEC 051 Call Reports to include insured depository institutions with assets of less than $5 billion; and

• reduce the number of existing data items reportable in FFIEC 051 Call Reports for the first and third calendar quarters.