WASHINGTON -- The Office of Thrift Supervision has a plan to streamline reporting for savings and loan holding companies.
Currently, the companies must sift through four sets of registration forms and instructions to determine which forms they must file.
Would Help Agency, Too
The office proposed to combine the instructions into a single package. Annual and quarterly reports would also be simplified.
The regulator said the changes would weed out duplicative reports and ease the paperwork burden on its staff as well as on holding companies. It is seeking comments through Oct. 23.
Patrick A. Forte, president of the Association of Financial Services Holding Companies, said it would be simpler to let thrift holding companies file the same forms that other public companies file with the Securities and Exchange Commission.