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Will edit explanations provided for quality edits be considered under Agency supervisory programs that monitor late or inaccurate reporting?

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Will edit explanations provided for quality edits be considered under Agency supervisory programs that monitor late or inaccurate reporting?

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Yes. The Agencies, however, will defer including quality edit failures under their respective monitoring programs until the financial institutions and Agencies gain experience with the new validation process. During this time, Call Report analysts will answer institutions’ questions about entering acceptable edit explanations and will monitor all submitted data for accurate reporting.

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