FED adopted a proposal to revise and extend, for three years, the Banking Organization Systemic Risk Report (FR Y-15). This report is used to monitor the systemic risk profile of institutions that are subject to enhanced prudential standards under section 165 of the Dodd-Frank Act. Some revisions become effective beginning with the December 31, 2019 report date while other revisions become effective for the June 30, 2020 or December 31, 2020 report dates. FED also published the draft reporting form and instructions for FR Y-15 (OMB No. 7100-0352).
FED had published, on September 10, 2019, a notice in the Federal Register requesting comments, for 60 days, on the extension and revision of the Banking Organization Systemic Risk Report. The proposal was to revise the FR Y-15 report by:
- Adding trading volume items to the memoranda section of Schedule C
- Adding a separate line item for equity securities with readily determinable fair values not held for trading on Schedule D
- Adding derivatives items and revised total cross-jurisdictional claims and total cross-jurisdictional liabilities items to the memoranda section of Schedule E
- Adding a requirement that respondents keep a record of the data submitted
- Making other minor clarifications to the form and instructions
The comment period for the proposal expired on November 12, 2019. FED received three comment letters on the proposed information collection—two letters from financial industry trade organizations and one letter from a U.S. global systemically important bank holding company (G-SIB). Among other issues, respondents requested a delay in the effective date of certain proposed items, clarifications on the scope and intent of certain proposed items, further information on the ability to use existing reporting form data submissions in the proposed items, and additional proposed changes to the G-SIB rule or the scope of current indicators in the G-SIB surcharge methodology. Consequently, FED has adopted the proposal with certain modifications.
Keywords: Americas, US, Banking, FR Y-15, Systemic Risk, Dodd Frank Act, G-SIB, Reporting, FED
Across 35 years in banking, Blake has gained deep insights into the inner working of this sector. Over the last two decades, Blake has been an Operating Committee member, leading teams and executing strategies in Credit and Enterprise Risk as well as Line of Business. His focus over this time has been primarily Commercial/Corporate with particular emphasis on CRE. Blake has spent most of his career with large and mid-size banks. Blake joined Moody’s Analytics in 2021 after leading the transformation of the credit approval and reporting process at a $25 billion bank.
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