Agencies Rewrite Call Reports Ahead of Final Capital Regs

Despite growing bipartisan concern over a capital proposal likely to be significantly revised, the Fed, OCC, and FDIC today requested comment on proposed changes to call reporting requirements as well as regulatory capital and market risk capital reporting requirements to ensure that these conform with the agencies’ proposal.  Many changes reflect the departure from the advanced approach, with the agencies arguing that new disclosure requirements would increase transparency and complement the supervisory review process.  Certain item instructions would also be altered to reflect AOCI transition requirements, while form terminology would change to reflect the proposed expanded risk-based approach and the scope of banking organizations covered.