FED Updates Reporting Form and Supplemental Instructions for FR Y-9C
FED updated the reporting form and supplemental instructions for the information collection on consolidated financial statements for holding companies (FR Y-9C). FED has temporarily revised the FR Y-9C report to implement changes arising from the interim final rules published from March through June 2020, in response to COVID-19 pandemic; these rules revise certain aspects of the regulatory capital rule and amend the Regulation D of FED on reserve requirements. The changes to FR Y-9C report also arise from Section 4013 of the CARES Act. The reporting changes either took effect as of March 31, 2020 or take effect from June 30, 2020.
Revisions to the FR Y-9C report include the following:
- Updates to instructions for the calculation of certain amounts reported on Schedule HC-R, Regulatory Capital, to implement the interim final rules related to the regulatory capital rule.
- Addition of new items on the FR Y-9C report Schedule HC-C, Part I, Loans and Leases, and Schedule HC-M, Memoranda, to collect data on eligible loan modifications under Section 4013 of the CARES Act and on Small Business Administration (SBA) Paycheck Protection Program (PPP) loans under the PPP Liquidity Facility (PPPLF) (FED expects the collection of these new items to be time-limited.)
- Revisions to the definitions of certain deposits reported on the FR Y-9C report Schedule HC-E, Deposit Liabilities, in response to interim final rule amending Regulation D of FED
The FR Y-9C report instruction book will be updated to incorporate relevant information from the supplemental instructions after FED has completed the standard Paperwork Reduction Act process for these FR Y-9C report revisions.
Related Links
Keywords: Americas, US, Baking, COVID-19, Paycheck Protection Program, Reporting, CARES Act, PPPLF, FR Y-9C, Liquidity Facility, Credit Risk, Liquidity Capital, Regulatory Capital, Basel, FED
Featured Experts
María Cañamero
Skilled market researcher; growth strategist; successful go-to-market campaign developer
Nicolas Degruson
Works with financial institutions, regulatory experts, business analysts, product managers, and software engineers to drive regulatory solutions across the globe.
Patrycja Oleksza
Applies proficiency and knowledge to regulatory capital and reporting analysis and coordinates business and product strategies in the banking technology area
Previous Article
ESAs Respond to EC Proposal on Renewed Sustainable Finance StrategyRelated Articles
HKMA Sets Out Regulatory Treatment for Personal Loan Guarantee Scheme
HKMA has published a circular that sets out the regulatory and reporting treatment for loans that participating authorized institutions may grant to eligible borrowers under the 100% Personal Loan Guarantee Scheme.
ECB Completes Targeted Review of Internal Models of Banks
ECB published the results of the assessment of internal models that banks use to calculate risk-weighted assets for credit, market, and counterparty credit risks.
PRA on Regulatory Treatment of Loans Under Mortgage Guarantee Scheme
PRA published a statement on the regulatory treatment of retail residential mortgage loans under the Mortgage Guarantee Scheme, or MGS.
FCA Consults on Rules and Reporting Forms for Investment Firms Regime
FCA is consulting, via CP21/7, on the second phase of proposed rules to introduce the UK Investment Firm Prudential Regime (IFPR).
HMT and BoE Decide to Explore Central Bank Digital Currency in UK
HM Treasury and BoE announced the joint creation of a Central Bank Digital Currency (CBDC) Taskforce to coordinate the exploration of a potential central bank digital currency in UK.
EIOPA Sets Out Expectations on Use of Climate Risk Scenarios in ORSA
EIOPA published an opinion to set out its expectations on the supervision of the integration of climate change risk scenarios by insurers in their Own Risk and Solvency Assessment (ORSA).
Bundesbank Updates AnaCredit Reporting Requirements
Bundesbank published two circulars on AnaCredit reporting requirements. Circular 27/2021 covers changes to the reporting of branches, additional attributes to be reported for investment funds from August 01, 2021, and updates to the list of international organizations.
EC Sets Out Standards for MREL Reporting by Competent Authorities
EC published the Implementing Regulation 2021/622 that lays down implementing technical standards for reporting of the minimum requirement for own funds and eligible liabilities (MREL).
BCBS to Advance Work on Suptech, Climate Risk, and Basel Monitoring
BCBS has set out the strategic work priorities, as part of its the work program for 2021-22.
PRA Finalizes Supervisory Approach for Non-Systemic Banks in UK
PRA published the policy statement PS8/21, which contains the final supervisory statement SS3/21 on the PRA approach to supervision of the new and growing non-systemic banks in UK.
