The Office of Thrift Supervision proposed Tuesday to let thrifts use the same call report as the one used by other financial institutions.

The proposal would replace the Thrift Financial report with the Consolidated Reports of Condition and Income to make comparisons easier among financial institutions and to reduce the cost of filing reports.

Thrifts still would have to file certain additional information currently not included on the call report, including consolidated maturity rate data and holding company data.

The two reports are similar but have significant differences. The bank report collects more data on capital, risk-weighted assets, and off-balance-sheet items, while the thrift report collects more details on general valuation alliances by asset type and specific valuation allowances. The reports also differ in their reporting on interest rate risk monitoring.

The plan is expected to be published in the Federal Register today, with comments due in 60 days.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.