data for the nation's 13,757 credit unions for the first six months of 1992 also showed improvement.
And agency staff often cannot answer questions about the reports, CUNA and NAFCU said in response to the agency's request for information about how to improve the call report
The NCUA is giving stakeholders an additional two weeks to comment on possible changes to the call report
The agencies surveyed users of the information to identify additional Call Report
items that could be eliminated, while retaining items that are essential for safety and soundness and other public policy purposes.
A review of call report
data for the nation's 12,251 Federal Deposit Insurance Corporation-insured banks by Veribanc, Inc., the bank rating company, revealed continued improvement in the industry's financial strength.
The NCUA released new call report
deadlines intended to alleviate some of the problems credit unions said they faced as a result of the upcoming July 4th holiday and other calendar anomalies.
Thus far, the federal banking agencies have eliminated approximately 80 Call Report
data items; placed revised Call Report
instructions and forms on the Internet; adopted Generally Accepted Accounting Principles as the reporting basis for all Call Reports
; produced a draft core report; condensed four sets of Call Report
instructions into one; provided an index for Call Report
instructions; implemented an electronic filing requirement for all institutions submitting Call Reports
; placed much of the Call Report
data on the Internet; and reported to the Congress on recommendations to enhance efficiency for filers and users.
An analysis of first-quarter call report
data for the nation's 2,129 thrift institutions conducted by Veribanc, Inc., the bank rating company, found the industry registered a profit of $1.1 billion, the first time the industry as a whole has been profitable since the first quarter of 1987.
This call report
deadline change will be an interim change, but Larry Fazio, NCUA's Director of the Office of Examination and Insurance, said the agency is beginning a more extensive examination of its reporting and examination process to make better use of computer technology.
You also asked for my views on the adequacy of bank Call Report
data on small business lending; I will comment on the Call Report
data at the end of my statement and also bring to your attention the survey of small business finances that the Federal Reserve currently has under way.
The NCUA should change its call report
deadlines as soon as possible, since its current, floating deadlines are wreaking havoc on credit unions -- something that will only will get worse this summer -- several credit union CEOs said.
Yet the law requires that we collect these data from every bank on the Call Report
. Some balancing of burden and benefit is clearly called for in this provision.