The Banking Compliance Index™ (BCI) measures the incremental cost burden
on financial institutions to keep up with regulatory changes.
|FTE Consumption Score||FTE Consumption % Change Quarterly||FTE Consumption % Change Quarter on Quarter||Regulatory Changes||Hours to Comply/ Institution||% Change in Hours To Comply||% Change In Hours to Comply Quarter On Quarter||Incremental Cost Per Institution per Quarter||Regulatory Changes Page Count||Pages in Thousands||EAs||EAs/ 100's||% Change in EAs**||EA Rate||Avg. # Items in an EA|
The Banking Compliance Index (BCI) is a quarterly tracking index published by the Regulatory Operations Center™. It measures the incremental cost burden on financial institutions to keep up with regulatory changes. The BCI data sources include: CFPB, FDIC, FED, NCUA and OCC. The BCI is calculated using an average size institution of $350 million.
The Q1 2016 BCI shows that the average financial institution will require an additional 1.22 full-time employee equivalents (FTEs) to research and address just Q1’s new regulatory changes. This represents an additional $29,021 cost burden for the quarter and a total added cost of more than $151,954 to address the added compliance burden over the last four quarters. The enforcement climate continues to be “hot” – this quarter there were 173 enforcement actions (EAs) and over the last four years we have only seen three quarters with less than 150 EAs – a new normal for the banking industry.
The BCI is used as reliable reference data to publications such as The Economist, WSJ, Bloomberg, American Banker, Independent Banker, Bank Innovation, Credit Union Times, Credit Union Journal, Mortgage News Daily and Reverse Mortgage Daily.
|No of Actions Completed*||FTE Hour Savings per Institution||Savings per Institution||Savings across all managed Institutions||FTE Saved across all Institutions|
The Compliance Savings Index™ (CSI) is a quarterly index published by The Compliance Core™ Network of community financial institutions. This index shows tasks, completed in response to regulatory compliance requirements, actioned by these institutions over the Q1 2016 period and the trailing twelve months.