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![handle is hein.congrecreports/crptxabbc0001 and id is 1 raw text is: AUTHENTICATEO
U.S. GOVERNMENT
INFORMATION
Gp
115TH CONGRESS REPORT
2d Session HOUSE OF REPRESENTATIVES 115-577
COMMUNITY BANK REPORTING RELIEF ACT
FEBRUARY 23, 2018.-Committed to the Committee of the Whole House on the State
of the Union and ordered to be printed
Mr. HENSARLING, from the Committee on Financial Services,
submitted the following
REPORT
[To accompany H.R. 4725]
[Including cost estimate of the Congressional Budget Office]
The Committee on Financial Services, to whom was referred the
bill (H.R. 4725) to amend the Federal Deposit Insurance Act to re-
quire short form call reports for certain depository institutions,
having considered the same, report favorably thereon without
amendment and recommend that the bill do pass.
PURPOSE AND SUMMARY
Introduced by Representative Randy Hultgren on December 21,
2017, H.R. 4725, the Community Bank Reporting Relief Act
amends the Federal Deposit Insurance Act to require the appro-
priate federal banking agencies (the Comptroller of the Currency
(OCC), Board of Governors of the Federal Reserve System (Federal
Reserve), or Federal Deposit Insurance Corporation (FDIC)) to
issue regulations that allow for reduced reporting requirements for
depository institutions-with less than $5 billion in consolidated
assets and that meet such other criteria as agencies deem appro-
priate-when they make the first and third report of condition for
a year.
BACKGROUND AND NEED FOR LEGISLATION
All national banks, state member banks, insured state non-
member banks, and savings associations are required-on a recur-
ring basis-to file Consolidated Reports of Condition and Income,
or Call Reports, with the Federal Financial Institutions Examina-
tion Council (FFIEC) on the last day of each quarter. The FFIEC
is a formal interagency body empowered to prescribe uniform prin-
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