For the past eight years, banks have had the opportunity
to electronically submit their Reports of Condition and
Income (Call Reports) to the federal bank supervisory agencies
over telephone lines using their computer and a modem. Currently,
over half of all insured banks use the electronic submission
option, which reflects the banking industry's growing recognition
of the benefits of this powerful tool for completing and
filing reports. Further, significant declines in the cost
of computers and telephone modems in recent years have made
this equipment more affordable and cost-effective for even
the smallest financial institutions.
Accordingly, the bank supervisory agencies strongly encourage
you to consider using the electronic filing option with
computer software that supports this submission method.
Such software can check your Call Report for certain types
of errors and provides immediate confirmation that your
electronically filed report has been received by the agencies'
collection agent. Thus, electronic submission enables your
Call Report data to be received and processed more accurately
and quickly than data submitted to the agencies in the traditional
hard copy format.
Electronic Data Systems (EDS) serves as the collection
agent for the banking agencies. In order for your bank to
file its Call Report electronically, you must use computer
software that has been certified by EDS. Certified software
is available through certain vendors that have completed
a certification process. Alternatively, your bank could
develop its own Call Report software and go through the
certification process. However, purchasing certified computer
software which is updated quarterly by a vendor may be more
economical for a bank than developing and maintaining its
own software.
Currently, Call Report preparation software products marketed
by the American Bankers Association/DBI Financial Systems,
Inc.; DPSC Software, Inc.; Information Technology, Inc.;
and Sheshunoff Information Services, Inc., have been certified
for electronic submission by EDS. Further, the agencies
have provided these software companies with a significant
number of edits that the agencies normally use for validating
the Call Report information. As a result, while all banks
are responsible for the quality of their Call Report data,
a bank using a commercial software package is able to correct
errors identified by the software package prior to filing
the Call Report, and provide better quality data to the
agencies. This procedure saves banks time by reducing agency
inquiries for data correction. In addition, banks using
the EDS system to file their Call Reports electronically
are not required to mail hard copies of the Call Report
to any federal bank supervisory agency unless specifically
requested to do so.
For further information about the banking agencies' electronic
transmission program, call Mr. Robert Jansen of EDS at (800)
255-1571 or (414) 276-6776. National and FDIC-supervised
banks also may contact Ms. Massie G. Nyman of the FDIC at
(800) 688-3342, extension 86590, or (202) 898-6590. State
member banks may contact Ms. Christine A. Reid of the Federal
Reserve Board at (202) 452-3485.
For further information on available software, contact: | |
American Bankers Assoc./
DBI Financial Systems, Inc.
P.O. Box 598
Hartland, Wisconsin 53029
Tel: (800) 774-3279
|
Information Technology, Inc.
1345 Old Cheney Road
Lincoln, Nebraska 68512
Tel: (403) 423-2682
|
DPSC Software, Inc.
23501 Park Sorrento, Suite 105
Calabasas, California 91302
Tel: (800) 825-3772
|
Sheshunoff Information Services, Inc.
P.O. Box 13203 Capitol Station
Austin, Texas 78711-3203
Tel: (800) 456-2340
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|
Joe M. Cleaver
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|
Executive Secretary |
Distribution: Selected Insured Commercial Banks and FDIC-Supervised
Savings Banks
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