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Inactive Financial Institution Letters

Federal Regulatory Agencies Adopt Common Data Elements for Review in Consumer Compliance and CRA Examinations

November 17, 1997


SUBJECT: Federal Agencies Standardize Data Elements for Use With Automated Tools in Compliance and CRA Examinations

The Federal Deposit Insurance Corporation (FDIC) and the Board of Governors of the Federal Reserve System (Federal Reserve) have identified the data that financial institutions can provide in an electronic format to satisfy Consumer Compliance and CRA Examination needs.

Institutions will not be required to provide data in electronic form and can continue to provide the information to examiners as they currently do. However, data provided electronically will allow examiners to shift more of their analysis of bank activities off-site. In addition, examiners will be able to focus the scope of on-site activities for a more efficient and less intrusive examination.

Attached is a list of data elements that may be requested by compliance examiners prior to an examination and the suggested technical specifications for the data. Each of the elements has been related to one or more regulations subject to review by examiners. The elements represent the various ways banks are believed to maintain the information. An institution is not expected to have all of the listed elements nor will it be asked to provide information electronically that is not readily maintained in an electronic format. An automated data conversion tool has been developed and will be used by both agencies to convert electronic bank data from formats commonly used by banks to a format that can be used by examiners.

Banks can expect to receive more requests for data in electronic form in early 1998, as the agencies train examiners in the use of the automated data conversion tool. As the banking industry increases its use of technology, the FDIC and the Federal Reserve will continue to work together to develop additional automated systems to promote quality and efficiency in the compliance and CRA examination process. The agencies will work with financial institutions, vendors and servicers as automated tools are introduced into the examination process.

The FDIC and the Federal Reserve appreciate the cooperation of financial institutions and encourage institutions to provide compliance examination data in an electronic format whenever possible. Questions regarding electronic data or automated systems used in the compliance and CRA examination process can be directed to the following individuals:

Federal Deposit Insurance Corporation:Bob Gunter
(202) 942-3305
Board of Governors of the Federal Reserve System: Christina Nejezchleb
Gary Wicks
(202) 542-3946


Carmen J. Sullivan, Director
Division of Compliance and Consumer Affairs
Federal Deposit Insurance Corporation


Griffith L. Garwood, Director
Division of Consumer and Community Affairs
Board of Governors of the Federal Reserve System

Attachment (67Kb PDF file - PDF help or hard copy)

Distribution: FDIC-Supervised Banks (Commercial and Savings)

NOTE: Paper copies of FDIC financial institution letters may be obtained through the FDIC's Public Information Center, 801 17th Street, N.W., Room 100, Washington, D.C. 20434 (800-276-6003 or (703) 562-2200). Federal Deposit Insurance Corporation Board of Governors of the Federal Reserve System

Last Updated 07/16/1999

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