ICBA called on federal regulators to expand their efforts to streamline community bank call reporting to recognize the impact of Paycheck Protection Program lending.
ICBA urges expanded call report relief
February 02, 2021 / By ICBA
ICBA called on federal regulators to expand their efforts to streamline community bank call reporting to recognize the impact of Paycheck Protection Program lending.
ICBA called on federal regulators to expand their efforts to streamline community bank call reporting to recognize the impact of Paycheck Protection Program lending.
In a comment letter, ICBA thanked regulators for proposing to extend the current call report matrix for another three years, including the FFIEC 051 call report's streamlined reporting option for certain community banks. However, ICBA urged the agencies to increase the 051 call report threshold from $5 billion to $10 billion in assets.
The agencies are proposing to expand eligibility for the 051 call report by allowing community banks to base their total assets on the lesser of their assets as of June 30, 2020, and Dec. 31, 2019. ICBA said raising the threshold to $10 billion would further provide reporting relief without jeopardizing the domestic banking system.
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