Title 12 — Banks and Banking
Chapter 48 — Financial Institutions Regulatory Improvement
§ 4805. Call report simplification
Statutory text
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—
work jointly to develop a system under which—
insured depository institutions and their affiliates may file such reports and statements electronically; and
the Federal banking agencies may make such reports and statements available to the public electronically; and
not later than 1 year after , report to the Congress and make recommendations for legislation that would enhance efficiency for filers and users of such reports and statements.
Uniform reports and simplification of instructions
The Federal banking agencies shall, consistent with the principles of safety and soundness, work jointly—
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
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.
Review of call report schedule
Each Federal banking agency shall—
review the information required by schedules supplementing the core information referred to in subsection (b); and
eliminate requirements that are not warranted for reasons of safety and soundness or other public purposes.
Legislative history
Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.
Riegle Community Development and Regulatory Improvement Act of 1994
Pub. L. 103–325 title III § 307 · 108 Stat. 2160
Enacted · 12 U.S.C. § 4805
(Pub. L. 103–325, title III, § 307, Sept. 23, 1994, 108 Stat. 2217.)
Source evidence
Code source credit
(Pub. L. 103–325, title III, § 307, Sept. 23, 1994, 108 Stat. 2217.)Enacted provision · exact public law section
SEC. 307. 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 the date of enactment of this Act, 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.— 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.
1 of 1 references resolved to an enrolled provision
Editorial Notes
Codification
Provisions similar to this section are contained in section 4805a of this title.