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.
Pierre-Etienne Chabanel
Brings expertise in technology and software solutions around banking regulation, whether deployed on-premises or in the cloud.
Previous Article
Bundesbank Updates Requirements for AnaCredit ReportingRelated Articles
BCBS Consults on Principles for Operational Risk and Resilience
BCBS is consulting on the principles for operational resilience and the revisions to the principles for sound management of operational risk for banks.
FSI Note Discusses Challenges Associated with COVID Relief Measures
The Financial Stability Institute (FSI) of BIS published a brief note that examines the supervisory challenges associated with certain temporary regulatory relief measures introduced by BCBS and prudential authorities in response to the COVID-19 pandemic.
HKMA Announces Repayment Deferment Under Payment Holiday Scheme
HKMA, together with the Banking Sector Small and Medium-Size Enterprise (SME) Lending Coordination Mechanism, announced a ninety-day repayment deferment for trade facilities under the Pre-approved Principal Payment Holiday Scheme.
ESRB Paper Presents Alternative Approach to EBA Stress Test Proposal
The Advisory Scientific Committee of ESRB published a response, in the form of an Insights Paper, to the EBA proposals for reforms to the stress testing framework in EU.
MAS Announces Key Initiatives to Support Adoption of SORA
MAS announced several initiatives to support adoption of the Singapore Overnight Rate Average (SORA), which is administered by MAS.
BoE Updates Template and Definitions for Form ER
BoE updated the reporting template for Form ER as well as the Form ER definitions, which contain guidance on the methodology to be used in calculating annualized interest rates.
PRA to Extend Temporary High Balance Coverage Amid COVID Crisis
PRA published the policy statement PS19/20 on the final policy for extending coverage under the Financial Services Compensation Scheme (FSCS) for Temporary High Balance.
EBA Publishes Standards on Disclosure and Reporting of MREL and TLAC
EBA published the final draft implementing technical standards for disclosures and reporting on the minimum requirements for own funds and eligible liabilities (MREL) and the total loss-absorbing capacity (TLAC) requirements in EU.
EBA Releases Erratum for Phase 2 Package on Reporting Framework 2.10
EBA published an erratum for the phase 2 of technical package on the reporting framework 2.10.
EC Sets Out Updated Technical Information for Solvency II Calculations
EC published the Implementing Regulation 2020/1145, which lays down technical information for calculation of technical provisions and basic own funds.
