2021-05 May – Reduced Regulatory Financial Reporting
This segment will provide insight into the reduced financial reporting options that have been made available to banks over the past few years. There is no question about the significance of the regulatory burden that all banks face on a daily basis. The regulators have offered several options to allow for reduced financial reporting for certain eligible banks that can make the Call Report preparation process more manageable for your accounting and financial reporting team.
– Section 205 of the Economic Growth, Regulatory Relief and Consumer Protection Act
– Reduced Reporting for Banks with $5 billion and less in total assets.
– The Community Bank Leverage Ratio
– Reduced reporting for Bank’s with less than $10 billion in total assets
– Financial Institutions Letters 99-2020, 108-2020, and 111-2020