The federal bank regulatory agencies today announced the availability of a web site that provides information on the Federal Financial Institutions Examination Council's (FFIEC) Call Report Modernization initiative. The FFIEC Call Report agencies (the Federal Reserve Board, the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency) are building a central data repository (CDR) to modernize and streamline how the agencies collect, process, and distribute bank financial data.
The web site features a timeline, progress reports, frequently asked questions and answers, and highlights of future process changes. It provides details about project participants and how financial institutions and software vendors can participate in the initiative. The site also contains information outlining the technology supporting the new reporting process.
The FIND (Financial INstitutions Data - Bank Call Reports) web site provides details on the initiative in the months leading up to the implementation of the CDR and will continue to provide guidance after completion of the initiative. Implementation of the CDR is slated for the fall of 2004, and banks will first use the CDR to submit their September 30, 2004, Call Report data to the agencies. The web site can be accessed at: www.FFIEC.gov/find.