# Presentation: 190082

## 
Overview of Call Report Modernization Project

Martin Henning, FDIC
CDR Project Manager

Cindy Ayouch, FRB
Chair, Financial Institutions Focus Group

Gary Irving, Unisys
Deputy Program Manager

- Overview of Call Report Modernization Project
- Martin Henning, FDIC
- CDR Project Manager
- Cindy Ayouch, FRB
- Chair, Financial Institutions Focus Group
- Gary Irving, Unisys
- Deputy Program Manager

- FFIEC’s Call Report Modernization Project

## Call Report Modernization Project Goals

- Update the process by which Call Report data are defined, managed and used
- Gain industry-wide efficiencies in the exchange of financial data by using the Internet and XML-based standards
- Create an extensible platform for current and future reporting needs

## Call Report Modernization Project

- FFIEC Call Agencies
- FDIC, FRB and OCC
- Contract awarded to Unisys Team 5/03
- Partners: PWC, Microsoft, UBMatrix, Edgar Online, IDOM, V-Tech Solutions
- Dave Hoffman and Raj Tewari, Unisys Partners
- Cecilia Wu, Unisys Program Manager
- System development will take about a year
- Operational launch is anticipated for one of the first two Call Report periods of 2005.  A specific date will be announced by the end of the year.

## What is Changing?

- Moving from agency-focused to industry-focused for the long view
- Shifting from form-centric to data-centric
- Shifting from proprietary standards to open standards
- Reducing redundancies among agencies using centralized facility

## What are the Business Issues?

- Decrease the time between the receipt of data and the release of data to the public
- Decrease the cost of data collection for all parties
- Improve data transparency through defined open standards
- Create a flexible system that can accommodate evolving business needs
- Provide best information and tools to help financial institutions meet their obligations for submitting timely and accurate reports

## Why XBRL for Call Reports?

- Provides foundation data for bank supervision and industry analysis
- Data structures are well-documented
- More than 8,300 institutions report quarterly
- Currently collect 2,000 data fields
- Nearly 400 pages of instructions
- 1,500 edit formulas to promote data quality
- Promotes effective data exchanges across legacy systems without significant re-programming

## Major Business Model Changes - Agencies

- What’s New
- Centralized data storage and processing facility
- Shared costs and management
- Meta-data published in XBRL format
- Historical data available for banks and vendors
- Expedited data publication
- What’s the Same
- Timely and accurate Call Report requirements
- Customer service for requirements; exceptions and accounting rules

## Major Business Model Changes - Banks

- What’s New
- Elimination of paper-based meta-data materials (forms, instructions, validation criteria)
- Pre-validation of data required
- Math and logic errors eliminated before processing
- Quality edit variances require explanation
- Internet delivery of data to CDR
- More responsibility for amended data
- What’s the Same
- Ultimate responsibility for data
- Relationship with software providers
- Little or no impact on legacy systems

## Major Business Model Changes - Vendors

- What’s New
- Meta-data management process centralized
- XBRL inputs and outputs
- Support pre-validation requirement
- Support reporter authentication, authorization and file format
- Historical data available for edits
- Potential for cost savings over time (ease of update, reusability)
- What’s the Same
- Continue to provide software and services
- Ability to leverage processes and services to customers

## Expected Results

- Faster exchange of data between banks and FFIEC Call Agencies
- Resources shared more effectively among FFIEC Call Agencies
- Easier accommodation of Call Report changes
- Long-term potential to facilitate bankers’ reuse of data among multiple regulatory and internal reporting needs
- Provides structure for automating straight-through processing

## Benefits for Bankers and Vendors

- XBRL can help lower long-term costs
- Improved data quality and timeliness
- Vendor products easier to maintain and leverage
- XBRL frameworks are extensible
- Developing additional frameworks can be simplified when data requirements are shared
- Many institutions report similar data to federal, state and local governments
- Consolidate efforts in the future

## Focus Groups

- Facilitates communication and coordination with major stakeholders.
- Four major Focus Groups:
- XBRL Standards Group
- Technology Forecasting Group
- Call Report Software Vendors Focus Group
- Financial Institutions Focus Group

## Bank Participation in the CDR Project

- Financial Institutions Focus Group (FIFG)
- Current membership
- Purpose
- Responsibilities

## FIFG Current Membership

- FFIEC

- American Bankers Association

- Independent
- Community Bankers
- of America

- Financial Institutions Focus Group

- Association
- For
- Financial
- Technology

- Unisys

- Gary Irving
- Dave Hoffman
- Shaune Gokey

- FFIEC

- Cindy Ayouch

- Federal Reserve Banks

- Six Financial Institutions of Various Sizes

- New York Clearinghouse

- America’s Community Banker

- Conference
- of State Bank Supervisors

## FIFG Purpose

- Serve as a collaborative bridge between the CDR Project and the Financial Institution Community
- Support two-way communication about the project
- Identify potential problems early

## FIFG Responsibilities

- Collaborate 2-3 hours per week
- Actively participate in meetings
- Assist with message development and delivery