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 Q2 2016 BCI shows that the average financial institution will require an additional 1.21 full-time employee equivalents (FTEs) to research and address just Q2’s new regulatory changes. This represents an additional $29,732 cost burden for the quarter and a total added cost of more than $140,215 to address the added compliance burden over the last four quarters. The enforcement climate dropped from "hot" to "warm" as the enforcement rate dipped to 9.8% - the first time since Q4 2014 that the rate has fallen below 10%. Compared to an almost 13% rate this time a year ago, and 11.19% last quarter, this decline may signal improved performance by financial institutions or a more measured approach by regulators.
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 Continuity's network of community financial institutions. This index shows tasks, completed in response to regulatory compliance requirements, actioned by these institutions over the Q2 2016 period and the trailing twelve months.
*Sources: Continuity, FDIC
**During Q2 2016 there was a 24% decrease in the number of RegAlerts™ we issued to our clients and we made several filtering enhancements to our solutions that allowed our clients to limit what they see even more closely to their needs and that is reflected in the decrease of savings per institution.