Regulatory TrackFFIEC Central Data Repository: Adding

Value to the Data Supply ChainAlan Deaton, Federal Deposit Insurance

CorporationJune 25, 2009

Agenda Overview of the Call Report Overview of the Central Data Repository

(CDR) Value-added functionality

◦ Public Data Distribution◦ Uniform Bank Performance Report

XBRL for Bank Examinations◦ FDIC’s GENESYS application (Proof of Concept) for

bank supervision◦ Other FDIC applications

Overview of the Call Report All U.S. Banks and Thrifts are required by

the Federal Financial Institutions Examination Council (FFIEC) to file quarterly reports with their regulator as of the close of business on the last day of each calendar quarter◦ Federally Insured Banks file consolidated

Reports of Condition and Income (Call Reports)◦ Federally Insured Savings Institutions file Thrift

Financial Reports (TFRs)◦ Banks have 30 days to submit data unless they

have multiple foreign offices, then 35 days

Overview of the Call Report Approximately 7,500 filing entities as of

March 31, 2009 Approximately 1,200 financial concepts

reported by an entity Approximately 2,000 validation criteria

used to check quality Over 429 pages of instructions Call Report data available electronically

from as early as 1959 Since 1998, all banks have been required to

file Call Report data electronically

Overview of the CDR

Before the CDR and XBRL: Validation routines and formulas stored in and processed

by two systems (FRB, FDIC) Banks submit data after some minimal checks in their

software - inconsistencies between preparation software packages

Software vendors receive Call Report metadata from Excel, PDF, and Word documents – cut and paste into their software

Agency analysts would check data quality once files had been submitted and contact bankers with any questions – often 1-3 weeks after initial submission

Overview of the CDR Three banking agencies developed the

Central Data Repository (CDR)◦Used XBRL to define and transport data◦Data receipt◦Data validation◦Storage◦Distribution

CDR launched on October 1, 2005 Key policy change ~ pre-validation using XBRL Very Successful implementation

Overview of the CDRAfter the CDR and XBRL: FFIEC developed the XBRL-based CDR with Unisys

Corporation as systems integrator Metadata stored in XBRL taxonomy files now available

to anyone The same taxonomy files that contain validation

criteria the agencies use in the CDR are used in Call Report software vendor packages

Banks are required to check the quality of their data before submitting

Agencies do not accept data with quality problems Quality assurance work is done by reporters up front,

when it is more efficient

Overview of the CDR Validity – equations that must hold true or

the data is inaccurate Quality – data relationships that help

identify anomalies Reportability – identify what financial

concepts an entity should submit based on their structural or financial characteristics

Value-added Functionality Value Added Business & Performance

Metrics - Uniform Bank Performance Report (UBPR) ◦Capital Adequacy ◦Asset Quality◦Earnings◦Liquidity◦Growth Rates◦ Industry Standards

Regulatory International ~ Basel II

Value-added Functionality

UBPR◦Modify data by (+, -, /, *) ◦Apply functions (annualize, %change) ◦Consistently applied across

Data Industry Comparability

Value-added Functionality UBPR: in CDR as early as December

2009

Value-added Functionality Public Data Distribution: Leveraging

XBRL

https://cdr.ffiec.gov/public/

Value-added Functionality Public Data Distribution: Bulk Data

Value-added Functionality Public Data Distribution: Public Web

Service◦ Retrieve Panel of Reporters

Institution identifiers, simple structure data, and indicator whether data is available

◦ Retrieve filers since a given date List of institutions

◦ Retrieve facsimile PDF SDF XBRL

XBRL for Bank Examinations GENESYS Proof of Concept (POC)

◦General Examination System (GENESYS) – FDIC’s system for creating the Report of Examination

◦Current system relies on outdated technology

◦Current system must be manually updated each quarter Cannot look back to prior quarters Delivery of system is not timely

XBRL for Bank Examinations GENESYS Proof of Concept: Goals

◦ Enable web services◦ Retrieve taxonomy and bank data from CDR◦ Leverage taxonomy information internally

Formulas Presentation

◦ Real-time data retrieval, manipulation and analysis◦ POC could provide the basis for future internal

systems development: GENESYS Modernization Project in 2010 Other internal FDIC systems

La Fin