12 USC 4805a – Call report simplification
(a) Modernization of call report filing and disclosure system
In order to reduce the administrative requirements pertaining to bank reports of condition, savings association financial reports, and bank holding company consolidated and parent-only financial statements, and to improve the timeliness of such reports and statements, the Federal banking agencies shall—
(1) work jointly to develop a system under which—
(A) insured depository institutions and their affiliates may file such reports and statements electronically; and
(B) the Federal banking agencies may make such reports and statements available to the public electronically; and
(2) not later than 1 year after December 27, 2000, report to the Congress and make recommendations for legislation that would enhance efficiency for filers and users of such reports and statements.
(b) Uniform reports and simplification of instructions
Terms Used In 12 USC 4805a
- association: when used in reference to a corporation, shall be deemed to embrace the words "successors and assigns of such company or association" in like manner as if these last-named words, or words of similar import, were expressed. See 1 USC 5
The Federal banking agencies shall, consistent with the principles of safety and soundness, work jointly—
(1) to adopt a single form for the filing of core information required to be submitted under Federal law to all such agencies in the reports and statements referred to in subsection (a); and
(2) to simplify instructions accompanying such reports and statements and to provide an index to the instructions that is adequate to meet the needs of both filers and users.
(c) Review of call report schedule
Each Federal banking agency shall—
(1) review the information required by schedules supplementing the core information referred to in subsection (b); and
(2) eliminate requirements that are not warranted for reasons of safety and soundness or other public purposes.
(d) Definition
In this section, the term “Federal banking agency” has the same meaning as in section 1813 of this title.