The Federal Financial Institution Examination Council (FFIEC) will soon launch a project that will enable federal banking regulators and the public to access a common pool of information about the banks under their supervision.
The initiative, known as the "Call Report Modernization Project," revolves around a Central Data Repository containing the quarterly regulatory filings of over 8,400 financial institutions. All of the information within will be "tagged" using eXtensible Business Reporting Language (XBRL), a cross-industry standard for representing financial data.
The project will launch on or about October 1st, 2005, following a final end-to-end test of the system at the end of May. "This will be the first mandatory electronic filing system for financial data in the United States," said Mike Bartell, chief information officer, FDIC. Bartell spoke at a recent XBRL conference in Boston.
Friday, May 20, 2005
Banking Regulators to Launch XBRL-Powered Call Report Database
Ivan Schneider, Bank Systems & Technology
Posted by Alice at 5/20/2005 11:07:00 AM