§ 4805a. — Call report simplification.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC4805a]
TITLE 12--BANKS AND BANKING
CHAPTER 48--FINANCIAL INSTITUTIONS REGULATORY IMPROVEMENT
Sec. 4805a. 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 December 27, 2000, 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) of this
section; 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) of this section;
and
(2) eliminate requirements that are not warranted for reasons of
safety and soundness or other public purposes.
(d) Definition
In this section, the term ``Federal banking agency'' has the same
meaning as in section 1813 of this title.
(Pub. L. 106-569, title XII, Sec. 1211, Dec. 27, 2000, 114 Stat. 3035.)
Codification
Section was enacted as part of the Financial Regulatory Relief and
Economic Efficiency Act of 2000, and also as part of the American
Homeownership and Economic Opportunity Act of 2000, and not as part of
title III of Pub. L. 103-325 which comprises this chapter.
Provisions similar to this section are contained in section 4805 of
this title.
