The federal banking
agencies announced today that they will target implementation of the Central
Data Repository (CDR) for one of the first two Call Report periods of
2005. A specific date will be announced
by the end of the year.
Originally scheduled
for implementation in October 2004, the system's start date was postponed last
month to address industry feedback and to allow more time for testing and
enrollment. The decision to delay
implementation beyond 2004 was made to ensure that rollout of the new system
would not increase burden for those bankers with additional reporting
requirements at the end of the year.
The agencies and
industry focus groups are currently evaluating the schedule and will post
detailed information and a new timeline on the Federal Financial Institutions
Examination Councils (FFIEC) Web site, www.FFIEC.gov/FIND,
later this year. In the meantime, banks
will continue filing their Call Report data in the same manner they do today
and the agencies will continue to process Call Report data using their existing
processing systems.
The agencies are
currently considering Call Report changes that may be introduced in 2005. Information on any proposed revisions to the
Call Report will be released separately from the announcement of the updated
schedule for the CDR.
The CDR is an
Internet-based system created to modernize and streamline how the agencies
collect, validate and distribute financial data, or "Call Reports,"
submitted by banks. This initiative -
the Call Report Modernization Project - is an interagency effort under the
auspices of the FFIEC. Additional project details and other important
information are posted on the FFIEC's Web site at www.FFIEC.gov/FIND.
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Media Contacts:
Federal Reserve Andrew Williams (202) 452-2955
FDIC Elizabeth Ford (202)
898-6993
OCC Dean DeBuck (202)
874-5770