New Call Report System Implementation

GuidanceFederal Financial Institutions Examination Council (FFIEC)Risk Management

The banking agencies will implement the Central Data Repository (CDR) to process the Reports of Condition and Income (Call Reports) beginning with the third quarter 2005. This filing period begins September 30, 2005. Except for certain banks with foreign offices, data must be received by October 30, 2005. **The agencies recognize that institutions whose operations have been significantly affected by Hurricane Katrina may experience difficulty or delay in filing their third quarter Call Report. Those institutions should contact their primary regulator or the CDR help desk at 1-888-CDR-3111 for special assistance in filing third quarter Call Report data.

The CDR will require banks to validate their Call Report data before it will be accepted. To allow sufficient time to complete the new prevalidation process prior to the submission deadline, banks should start their Call Report preparation process earlier than in the past. The new prevalidation process will require banks to correct errors identified by the CDR and, where necessary, to prepare explanatory comments for data that fall outside specific parameters. These explanatory comments, which will be filed along with a bank's data, will be considered confidential.

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