PORTFOLIO Checks & Balances By Chris Cole, ICBA Unfinished business Lackluster call report and capital plans need a grassroots jolt. hile much of the ICBA-advocated S.2155 regulatory relief law has proceeded in due course, two key provisions remain very much unfi nished business. Regulators have released disappointing proposals to implement provisions of the Economic Growth, Regulatory Relief, and Consumer Protection Act requiring a short-form call report and simplifying capital requirements for community banks. With regulators requesting feedback on both proposals, ICBA is encouraging community bankers to weigh in and support needed updates. 34 Q ICBA Independent Banker Q January 2019 W Here's a look at the proposals and how community bankers can help improve them. Short-form shenanigans S.2155 requires regulators to institute a shortform call report in the fi rst and third quarters for banks with less than $5 billion in assets, refl ecting a policy long advocated by ICBA. Unfortunately for community banks, federal regulators' proposed rule barely moves the needle in reducing unnecessary reporting burdens. Rather than off ering signifi cant reporting relief, the agency plan would merely reduce some of the items on the FFIEC 051 Call Report that need to be fi led every quarter. The items that Chris Cole (chris. cole@icba.org) is ICBA executive vice president and senior regulatory counsel