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WHO is involved?
The Federal Financial Institutions Examination Council
(FFIEC) Call Report Agencies:
- Federal Deposit Insurance Corporation
(FDIC)
- Federal Reserve Board (FRB)
- Office of the Comptroller of the Currency
(OCC)
WHAT is being created?
The Agencies have contracted to build a Central
Data Repository (CDR) for the collection, validation,
and distribution of Consolidated Reports of Condition and
Income (Call Reports: FFIEC 031 and 041) data submitted
by banks.
WHEN will it go into effect?
Implementation of the new CDR system, originally
scheduled for September 30, 2004, has been postponed.
The federal banking agencies will target implementation
of the CDR for one of the first two Call Report periods
of 2005. A specific date will be announced by the
end of the year.
HOW will it work?
Under this new system, institutions will file their Call
Report data via the Internet using software that contains
the FFIEC's edits for validating Call Report data before
submission. Call
Report software vendors are currently modifying their
software to incorporate these edits.
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