 The Federal Deposit Insurance Corporation (FDIC) is responsible for overseeing insured financial institution adherence to FFIEC reporting requirements, including the observance of all bank regulatory agency rules and regulations, accounting principles and pronouncements adopted by the Financial Accounting Standards Board (FASB) and all other matters relating to a call report submission.Call reports are required by statute and collected by the FDIC under the provision of Section 1817(a)(1) of the Federal Deposit Insurance Act.The FDIC collects, corrects, updates and stores call report data submitted by all insured national and state nonmember commercial banks and state-chartered savings banks on a quarterly basis.