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Joint Release Office of the Comptroller of the Currency
Board of Governors of the Federal Reserve System
Federal Deposit Insurance Corporation
Conference of State Bank Supervisors



Interagency Loan Data Request to Improve the Bank Examination Process

FDIC-PR-29-2002
For Immediate Release
March 11, 2002
 

The federal bank supervisory agencies and the Conference of State Bank Supervisors announced today an interagency effort to improve the efficiency of the examination process by standardizing the request for electronic loan information. This information is used primarily to conduct community and mid-size bank safety and soundness examinations and is currently provided in a variety of formats that can be time consuming and costly for regulators, banks and service providers to administer.

The new standard provides improved data definitions and prescribes a standard format for the presentation of loan information. The new data format will improve the efficiency of the bank examination process and reduce the burden on banks, service providers, and vendors.

Participation is voluntary, but the agencies encourage all institutions to participate when contacted as part of the pre-examination planning process. Examiners will begin asking for the new file in the second quarter of 2002.

Today's initiative was a cooperative effort among the bank regulatory agencies, and a number of service providers and software vendors. The agencies will host meetings in April to acquaint additional vendors with the new format.

Media Contacts:
OCC: Dean DeBuck (202) 874-5770
Federal Reserve: Susan Stawick (202) 452-2955
FDIC: David Barr (202) 898-6992
CSBS: Mary White (202) 728-5715

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Last Updated 03/11/2002 communications@fdic.gov