Complete Story
07/11/2014
ICBA Survey Shows Growing Call Report Burden
| ICBA released the results of a new survey that shows the increasing regulatory burden of the quarterly call report on community banks. The survey highlights the rising number of community bank resources devoted to the quarterly call report and the need for streamlined reporting rules for smaller and less complex institutions. According to the 2014 ICBA Community Bank Call Report Burden Survey, the annual cost of preparing the call report has increased for 86 percent of respondents over the past 10 years. The total hours dedicated to preparing the call report has increased for 73 percent in that time. One in three survey respondents said the number of employees involved in call report preparation has increased, with more than 60 percent saying they have at least two employees who prepare their report. To mitigate these rising regulatory burdens, ICBA is proposing that highly rated, well-capitalized community banks be allowed to file a short-form call report covering the first and third quarters and a long-form call report for the second and fourth quarters each year. According to the ICBA call report survey released today, 98 percent of respondents said the short-form call report would reduce their regulatory burden, and 72 percent said the reduction would be substantial. The ICBA survey made headlines in yesterday’s Politico Morning Money. ICBA will continue working to raise the profile of the community bank call report burden and advance its proposed short-form call report |
