12 U.S.C. § 4805a — Call report simplification
submitted 26 years ago by Pub. L. 106-569 to r/title-12-BANKS-AND-BANKING · 276 words · no verdicts yet
A translation hasn’t been published for this section yet. The official text below is complete and authoritative.
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—
work jointly to develop a system under which—
insured depository institutions and their affiliates may file such reports and statements electronically; and
the Federal banking agencies may make such reports and statements available to the public electronically; and
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.
The Federal banking agencies shall, consistent with the principles of safety and soundness, work jointly—
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
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.
Each Federal banking agency shall—
review the information required by schedules supplementing the core information referred to in subsection (b); and
eliminate requirements that are not warranted for reasons of safety and soundness or other public purposes.
In this section, the term “Federal banking agency” has the same meaning as in section 1813 of this title.
Source credit: (Pub. L. 106–569, title XII, § 1211, Dec. 27, 2000, 114 Stat. 3035.)
- 2000Enacted · Pub. L. 106-569 · 114 Stat. 3035
A history note hasn’t been published yet. The record shows enactment by Pub. L. 106-569 on 2000-12-27.
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