Bank Holding and Call Report Processes
to Be Streamlined
With the goal of speeding the processing and exchanging of banking data and increasing the transparency of the industrys data, changes are coming in the way commercial banks domestic call reports and bank holding company (BHC) reports are filed.
Updating BHC filing methods
Although the Federal Reserves project to update the way it collects BHCs reports bears some resemblance to the call report modernization project (discussed below), the BHC project is a separate initiative and has different technical requirements. With the updated process, bank holding companies must submit their FR Y-9 reports via the Federal Reserves Internet submission facility (Internal Electronic Submission of Statistical Reports, or IESUB) using either file transfer or data entry.
The BHC report change will be implemented beginning Sept. 30, 2004, for reports FR Y-9C and FR Y-9LP. Changes for reports FR Y-9SP and FR Y-9ES will be implemented on Dec. 31, 2004.
Modernizing call reports
The Federal Financial Institutions Examination Council (FFIEC) call report agenciesthe Federal Reserve Board of Governors, the Federal Deposit Insurance Corp. (FDIC), and the Office of the Comptroller of the Currency (OCC)are creating a secure, shared central data repository (CDR) for call reports. Institutions will submit their call report information to the CDR, and each regulatory agency will have access to the information. The CDR will replace the FDICs and the OCCs previous call report system and will supplement the Federal Reserve Banks current system.
Originally scheduled for Oct. 1, 2004, the implementation of the call report modernization initiative is targeted for one of the first two call report periods of 2005. A specific date will be announced by the end of 2004.
This story was written by Vanessa Davis and Lisa Mitchell of the Atlanta Feds Statistical Reports Department.
Updated Sept. 1, 2004