Banking agencies announce Financial Institution enrollment schedule for Central Data Repository.The Federal Financial Institutions Examination Council The Federal Financial Institutions Examination Council, or FFIEC, is a formal interagency body of the United States government empowered to prescribe uniform principles, standards, and report forms for the federal examination of financial institutions by the Board of (FFIEC) Call Report agencies--the Federal Deposit Insurance Corporation Federal Deposit Insurance Corporation (FDIC), an independent U.S. federal executive agency designed to promote public confidence in banks and to provide insurance coverage for bank deposits up to $100,000. (FDIC FDIC See: Federal Deposit Insurance Corporation FDIC See Federal Deposit Insurance Corporation (FDIC). ), the Board of Governors of the Federal Reserve System Board of Governors of the Federal Reserve System The managing body of the Federal Reserve System, which sets policies on bank practices and the money supply. (FRB), and the Office of the Comptroller of the Currency The Office of the Comptroller of the Currency (or OCC) was established by the National Currency Act of 1863 and serves to charter, regulate, and supervise all national banks and the federal branches and agencies of foreign banks in the United States. (OCC)--announced on June 30, 2005, the schedule for financial institutions to enroll in the Central Data Repository (CDR). The CDR is a new Internet-based system created to modernize and streamline the way the agencies collect, validate, manage, and distribute financial data submitted by banks in quarterly "Call Reports." The new system is scheduled for implementation for the third quarter 2005 Call Report and will be the only method available for banks to submit their Call Reports. In preparation for implementation of the CDR, financial institutions were assigned to one of eight week-long enrollment windows that began July 11, 2005. The implementation and enrollment plan was developed in cooperation with industry representatives, including software vendors, trade associations, and a number of banks from across the country that participate in the Financial Institutions Focus Group for the CDR project. Additional information on the CDR and the Call Report data modernization initiative is available at www.FFIEC.gov/FIND. |
|
||||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion