US Banking Regulator: We’d Like to Do Away with Quarterly Reports

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The US’s Federal Deposit Insurance Corporation (FDIC) is reportedly looking at the possibility of scrapping quarterly call reports in favour of pulling data from the 3,000+ community banks it regulates in close to real-time, in a move that could fundamentally shake-up how the sector reports financial metrics.

The FDIC this week has quietly launched a competition involving 20 data and technology firms to develop a prototype mechanism for reporting and analysing the data, in a move that could point to the possibility of a shift in the 150-year-old approach of

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