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 Q4 2015 BCI shows a 56% increase over Q3's volume of regulatory changes, reaching a record high of 125. Those changes come via 4,309 pages which need to be read, interpreted and implemented by each institution. The average financial institution will require an additional 2.23 full time employee equivalents (FTEs) to research and address just Q4’s new regulatory changes. This represents an 81% increase from the 1.23 FTEs needed to cover Q3 2015 changes. These regulatory changes placed an additional $52,317 cost burden on the average institution for the quarter while the total added cost burden for 2015's regulatory changes added up to $153,931 for the average financial institution.
The BCI is used as reliable reference data to publications such a The Economist, WSJ, Bloomberg, American Banker, Independent Banker, Bank Innovation, Credit Union Times, Credit Union Journal, Mortgage News Daily, 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 Q3 period.