What's New...

Information Distribution

Starting in October 2005, financial institutions will electronically obtain updated data items, instructions, validation criteria, and supplemental instructions. Mailing of paper materials via the U.S. Postal Service will be discontinued, although several avenues will exist for insured depository institutions to quickly obtain Call Report materials when needed, including the use of the current web sites maintained by the Agencies.

Process Changes

Current Future Internet transmission via software vendor Submission via diskette to EDS Submission via EDS key entry service Internet transmission via vendor software or internally customized software. Data received in XBRL format Agencies provide a common set of edits to the industry via paper reports. Edits developed jointly and distributed via XBRL files over the Internet Analysts resolve all edit exceptions through follow up with banks. CDR and vendor software screen all validity edits. Quality edit exceptions require explanations. Analysts evaluate edit explanations. Individual bank reports for which the Agencies' analyses have been completed are released each Friday, starting on the fourth Friday after the report date. As soon as a bank successfully submits a Call Report, data become immediately available to all users. Analysts can amend Call Report data on behalf of banks. Banks will resubmit Call Report data if amended. Paper distribution of forms, instructions, and edits Paper distribution of forms, instructions, and edits will be discontinued. Banks and other users can download and print forms, instructions, and edits for the first couple of quarters after implementation.

Edit Exceptions

Call Report data with validity edit failures will be automatically returned to the bank. The bank must review the edit exception, correct the data, and then resubmit the data.

All quality edit exceptions will require an edit explanation for the data to be accepted for further processing by the CDR. If an edit explanation is not supplied, the Call Report data will not be accepted.

To help Call Report preparers review and correct Call Report edits, if needed, and to provide the Agencies with acceptable edit explanations, the Agencies have written Guidelines for Resolving Edits.

Call Report Submission

The edit resolution period has been moved from after the regulatory deadline to before the regulatory deadline; therefore, the bank's submission process may need to begin sooner. This change in the edit resolution period ensures that banks are accountable for the quality of the data they submit and will enable the Agencies to release Call Report data to the public earlier than at present.