Agencies Seek Comment on Reduced Reporting for Covered Depository Institutions
The FDIC, the OCC and the Federal Reserve are seeking comment on a proposed rule to implement Section 205 of the Economic Growth, Regulatory Relief and Consumer Protection Act (EGRRCPA). The proposed rulemaking increases the number of banks that qualify to file the more streamlined call report (the FFIEC 051 Call Report). Comments are due on or before January 19, 2019. CBA has prepared a Regulatory Compliance Bulletin outlining the proposed rule, the specific questions posed by the regulatory agencies, and instructions on how to submit comments. The Bulletin can be accessed here.