In 2005, the FFIEC began requiring all bank institutions under its jurisdiction to provide quarterly Reports of Condition and Income (Call Report) in the XBRL format. The goal of the program, led by the FDIC, was to improve accuracy, efficiency and reduce costs in data collection from approximately 6,127 banks reporting to the nine regulators that fall under the FFIEC. The program reaped immediate benefits:

The FFIEC CDR also collects the annual FDIC Summary of Deposit (SOD) survey from approximately 5,000 banks. The SOD is the annual survey of branch office deposits as of June 30 for all FDIC-insured institutions, including insured U.S. branches of foreign banks, many of which are quite large.

Bank Data Collected Today

XBRL-formatted Call Report data populates the FFIEC Centralized Database Repository (CDR) which is shared between three FFIEC members: the FDIC, The Federal Reserve Board and The Office of the Comptroller of Currency. The XBRL standard is built into financial reporting software bank institutions use to report financials. Data quality checks, which address validation, quality and reportability are utilized by both the software vendors and the bank analysts who use the CDR. Banks are responsible for their own data quality and the checks validate the reported data as it is submitted, providing feedback in real-time.

How CDR Bank Data is Used

Analysts obtain reports which can be reviewed and analyzed, after which the data is published. Because of the standardized data reported and the consistent error checking, financial reports from banks are available to the public within one hour of acceptance and are provided in multiple formats. The FDIC uses the data internally through applications including:

Read the FFIEC Case Study: Improved Business Process Through XBRL: A Use Case for Business Reporting.

Access the FDIC Central Data Repository: https://cdr.ffiec.gov/CDR || https://cdr.ffiec.gov/public/ - public data distribution

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