FFIEC reporting procedures continue to evolve, and Regulatory Reporting for Cleartouch® from Fiserv helps keep your organization in step with regulatory reporting guidelines by streamlining your compliance process.
Regulatory Reporting is a comprehensive and easy-to-use application that simplifies the Federal Financial Institution Examination Council (FFIEC) Call Report process. The solution enables input of information and performs checks and balances, electronically delivering the information to regulators to satisfy quarterly reporting requirements.
You’ll find all the tools you need in Regulatory Reporting, including the forms required for filing reports. In addition to the FFIEC 031 and 041 forms, the solution also supports Form FR Y-9, used for holding company reporting.
Due to the time-sensitive nature of regulatory compliance, prompt and accurate reporting of account information is crucial. Regulatory Reporting provides an extra level of protection against inadvertent errors that can substantially slow the process, automatically performing edits to ensure that reports are generated to industry specifications and delivered in a timely way.
After all account information is collected, allocated and validated, Regulatory Reporting transmits the completed report files to the Central Data Repository (CDR), using the federally compliant Extensible Business Reporting Language (XBRL) format. All that is required to submit the regulatory report is a PC with an Internet connection.
With program updates provided on a quarterly basis, Regulatory Reporting easily adapts to ongoing changes in FFIEC reporting requirements. Additional report values can be quickly added to the system and easily verified to ensure your reports are accurate. Schedule formats and sequences can also be changed at any point, allowing ample time for verification before quarter-end reporting.