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Statement Studies Submission FAQ

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Studies FAQ
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Who should I contact if my bank is interested in participating in the submission campaign?

You should contact your Relationship Manager or send your interest directly to the Statement Studies Team,

How does my institution benefit from participation?

By submitting the financial statements of your bank's commercial loan customers, you are improving the quality of this year's Annual Statement Studies for members, and for you and your bank to utilize in performing business valuations on prospective businesses, and industries. As a participant of the program, not only do you receive free Annual Statement Studies books, or eStatement Studies access, but you join your peers in creating a product that has been a staple of the credit and banking industry for over 100 years! You will also be utilizing your own data as part of your benchmarking, and making credit decisions.

What information is collected for a submission?

For an acceptable submission, we need financial statement data, for all companies/all industries in commercial, middle market, and business banking. This includes balance sheet and income statement line items. We accept CPA as well as company prepared data, tax forms, etc. We also accept all loan grades, and risk ratings. We will never ask for, or collect any borrower information, except borrower zip code which is only collected to allow us to compile regional data.  

What does my institution need to send to RMA once the submission file is generated, and where?

Once you have completed the utility in your software, please be sure to send your submission file(s) to In the subject line, please include your bank name and bank ID number. You will need to send BOTH the submission file and the transmittal file. We are not able to process a submission without its corresponding transmittal. 

How much does it cost to participate in the submission campaign?

There are no additional costs associated with submitting your financial statements to RMA. As long as you are an RMA member, we will accept your submission. 

What is a submission goal, and is it important that I reach this goal?

RMA sets an annual submission goal, which is 10% more statements than you sent the prior year - but we understand participation is voluntary and we will take as many submissions as you can provide.

If you’re new to the submission campaign, please submit as many statements as possible!

It is important to remember the data continues to grow simply because of our members. The more statements we receive, the more data we can provide in the industry data reports. Should you not be able to reach your goal, we will not penalize you, however we strongly encourage you to submit as many statements as possible each year. 

What is the time commitment for generating a submission file?

Your time commitment to this project will depend on two things: the size of your institution, and which software spreading package you are using. 

The actual process takes just a few minutes, in which you enter in the submission period criteria, and your bank contact information. Then the software will generate the submission within a few minutes.

However, if you’re a large institution, the generation may take longer, but as the operator you will not need to do more than enter in a few key pieces of information. The software will do all the work!

If you do not work with one of our partnered vendors, more of a time commitment will be necessary. 

What security measures are in place for sharing our borrower data?

RMA can assure you that it is extremely safe to submit your client financial data.  At the time of file generation, the data is encrypted by the software directly.  Note, RMA will NEVER request your clients' identifying information (company name, contact name, address, phone, etc).  When ready, you may choose to send your file to RMA by email, or you may send to us using your secure email system, or SFT.  Please be sure to send us the instructions to conduct the file download. 


Finally, the RMA server is protected by two firewalls, which are monitored 24/7, and RMA staff are required to enter an OTP for accessing the network.  In addition, all data transferred between our systems are encrypted via SHA-256 VPN connection, and we have a third-party security vendor that monitors our network and logs 24/7.