§ 4805. Call report simplification

• (a) 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 September 23, 1994 , report to the Congress and make recommendations for legislation that would enhance efficiency for filers and users of such reports and statements.
• (b) 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) 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.