ACB: Press Releases

Contact:	Robert Schmermund (202) 857-3104 Jim Eberle (202) 857-3145	Jim Eberle (202) 857-3145 (work) (703) 893-2593 (home) [email protected]	For Immediate Release May 29, 2003 #03-21
E-mail: [email protected]

ACB EXPRESS CONCERNS OVER OTS DATA PROPOSAL

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America's Community Bankers, while supporting the efforts of the Office of Thrift Supervision to improve and simplify financial reporting for savings associations, has expressed concerns over several elements of the proposed revision of data collection for measuring interest-rate risk.

The OTS proposal would replace the Consolidated Maturity/Rate (CMR) schedule of the Thrift Financial Report with the Risk Exposure Data (RED) schedule.

“We are extremely concerned that the RED will result in a significant increase in the reporting burden for OTS-regulated institutions,” ACB said in a comment letter.

“In addition, we believe that some of the information proposed to be collected will not materially enhance the interest-rate risk valuation process or significantly change the resulting risk profiles of individual associations,” ACB said. “In particular, we do not believe that the reporting of some of the credit data, zip codes and other noninterest-related information is necessary.”

ACB said any changes to the current CMR should be made only if they improve OTS’s interest-rate risk monitoring capabilities and do not impose undue burdens on reporting institutions.

The comment letter is available at www.AmericasCommunityBankers.com

America’s Community Bankers is the national trade association committed to shaping the future of banking by being the innovative industry leader strengthening the competitive position of community banks. To learn more about ACB, visit www.AmericasCommunityBankers.com.

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