Inactive Financial Institution Letters
Federal Deposit Insurance Corporation
Office of the Comptroller of the Currency
Board of Governors of the Federal Reserve System
October 18, 2019
DEPOSITORY INSTITUTION REPORTS
TO: CHIEF EXECUTIVE OFFICER
SUBJECT: Reporting Data on Loans to Small Businesses and Small Farms in the Consolidated Reports of Condition and Income (Call Report)
On October 17, 2019, the Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation (collectively, the agencies) published the attached Federal Register notice requesting comment on ways to modify the current requirements for reporting data on loans to small businesses and small farms in the Call Report so that the reported data better reflect lending to these sectors of the U.S. economy.
The U.S. Government Accountability Office (GAO) reviewed the data collected on Call Report Schedule RC‑C, Part II, Loans to Small Businesses and Small Farms, as part of a study of the effect of regulations on small business lending. After summarizing its findings, the GAO recommended that the agencies reevaluate, and modify as needed, the requirements for the data institutions report in the Call Report to better reflect lending to small businesses.1 Therefore, the agencies are requesting feedback on ways to improve the usefulness of the Call Report data on loans to small businesses and small farms.
If your institution makes loans to small businesses or small farms, please share this letter with the lending officer(s) responsible for those portfolios and with the individual(s) responsible for preparing Call Reports at your institution. The attached Federal Register notice includes information on the agencies’ uses of the data reported in Schedule RC‑C, Part II; a series of questions about these data for which comments are requested; and agency contact information. Comments, which may be submitted to any or all of the agencies by the methods described in the attached notice, must be received by December 16, 2019. After reviewing the comments, the agencies will decide what further steps to take with respect to the collection of small business and small farm lending data.
- Grovetta N. Gardineer
Senior Deputy Comptroller for
Bank Supervision Policy
Office of the
Comptroller of the Currency
- Michael S. Gibson
Division of Banking
Supervision and Regulation
Board of Governors of the
Federal Reserve System
- Doreen R. Eberley
Division of Risk Management Supervision
Attachment: Federal Register Notice
Distribution: FDIC-Supervised Banks, National Institutions, State Member Institutions, and Savings Associations
1 Community Banks: Effect of Regulations on Small Business Lending and Institutions Appears Modest, but Lending Data Could Be Improved (GAO-18-312).