Report of Condition and Income

Remember your report cards in school? The report of condition and income are like that, only for banks. And if you got to file your own grades. And if, instead of grades, your performance was judged by dollar figures. Okay, it’s not really all that much like grades.

The financial industry operates under a thick layer of sticky regulatory control. Banks and other similar financial institutions have to file regular reports. One of those reports is the "report of condition and income."

The document, also known as a call report, is required for all banks and similar firms (like banking holding companies or savings and loans). The report, filed quarterly, provides details of the bank's earnings and other pertinent information. It lets regulators track the financial health of the institutions.