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    FED Updates FR Y-14 Reporting Forms, Approves Bank Acquisition Requests

    December 17, 2021

    The Board of Governors of the Federal Reserve System (FED) updated the form and instructions for the annual capital assessments and stress testing report (FR Y-14A), along with the reporting instructions for the quarterly data collection FR Y-14Q. The FR Y-14A report collects detailed data on bank holding companies, savings and loan holding companies, and intermediate holding companies' quantitative projections of balance sheet assets and liabilities, income, losses, and capital across a range of macroeconomic scenarios and qualitative information on methodologies used to develop internal projections of capital across scenarios. The data are reported as of December 31 each year. The FR Y-14Q collects detailed data on various asset classes, capital components, and categories of pre-provision net revenue of bank holding companies, savings and loan holding companies, and intermediate holding companies. Schedules are reported on the last calendar day of the quarter, with exceptions for the Trading and Counterparty Schedules.

    Additionally, FED announced its approval of the application by:

    • WSFS Financial Corporation, Wilmington, Delaware, to acquire Bryn Mawr Bank Corporation, Bryn Mawr, Pennsylvania.
    • Webster Financial Corporation, Waterbury, Connecticut, to acquire Sterling Bancorp and indirectly acquire Sterling National Bank, both of Pearl River, New York.
    • First Citizens BancShares, Inc., Raleigh, North Carolina, to acquire CIT Group, Inc., New York, New York.

     

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    Keywords: Americas, US, Banking, Reporting, FR Y-14, Stress Testing, Reporting, Acquisitions, FED

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