Featured Product

    FED Publishes Notice on Temporary Approval of Revisions to FR Y-9C

    September 12, 2018

    FED has temporarily approved revisions to the mandatory Consolidated Financial Statements for Holding Companies (FR Y-9C) pursuant to the authority delegated to FED by the Office of Management and Budget (OMB). The temporary approval is valid until March 31, 2019. The revisions are applicable as of June 30, 2018. FED also published the OMB supporting statement for the FR Y-9 family of reports on financial statements for holding companies.

    The Economic Growth, Regulatory Relief, and Consumer Protection (EGRRCP) Act of May 24, 2018 amended various provisions of banking law to eliminate or reduce statutory and regulatory requirements for certain banking organizations. EGRRCP Act, among other things, provides that state member banks and other depository institutions may only be required to assign a heightened risk-weight to a high volatility commercial real estate (HVCRE) exposure if such exposure is an HVCRE acquisition, development, or construction Loan, as defined in section 214 of EGRRCP Act. Section 202 of EGRRCP Act also amended the statutory definition of brokered deposits. The current instructions for reporting HVCRE and brokered deposits in the FR Y-9C are inconsistent with these provisions of EGRRCP Act.

    To avoid the regulatory burden associated with different definitions for HVCRE exposures and brokered deposits within a single organization, FED has amended the FR Y-9C instructions to permit bank holding companies, savings and loan holding companies, and intermediate holding companies of foreign banks to report HVCRE and brokered deposits on the FR Y-9C report in a manner consistent with their subsidiary depository institution(s). The FR Y-9 family of reporting forms continues to be the primary source of financial data on holding companies that examiners rely on between on-site inspections. Financial data from these reporting forms is used to detect emerging financial problems, review performance, conduct pre-inspection analysis, monitor and evaluate capital adequacy, evaluate holding company mergers and acquisitions, and analyze a holding company's overall financial condition to ensure the safety and soundness of its operations.


    Related Links

    Keywords: Americas, US, Banking, Accounting, Reporting, FR Y-9C, Dodd-Frank Act, HVCRE, Commercial Real Estate, EGRRCP Act, FED

    Featured Experts
    Related Articles
    News

    APRA Finalizes Prudential Standard for Credit Risk Management of Banks

    APRA updated the prudential standard on credit risk management requirements (APG 220) for authorized deposit-taking institutions, post a public consultation.

    December 12, 2019 WebPage Regulatory News
    News

    APRA Issues Operational Risk Rules, Consults on Reporting Requirements

    APRA published an updated prudential standard APS 115 that sets out operational risk requirements for authorized deposit-taking institutions in Australia.

    December 11, 2019 WebPage Regulatory News
    News

    ESMA Updates Q&A on European Benchmarks Regulation in December 2019

    ESMA updated the question and answers (Q&A) document on the European Benchmarks Regulation.

    December 11, 2019 WebPage Regulatory News
    News

    APRA Decides to Keep Countercyclical Capital Buffer for Banks at 0%

    APRA announced its decision to keep the countercyclical capital buffer (CCyB) for authorized deposit-taking institutions on hold at zero percent.

    December 11, 2019 WebPage Regulatory News
    News

    FED Extends Consultation Period for Capital Requirements for Insurers

    FED is extending comment period for the proposed rule establishing risk-based capital requirements for depository institution holding companies that are significantly engaged in insurance activities.

    December 10, 2019 WebPage Regulatory News
    News

    OSFI Sets Domestic Stability Buffer Level at 2.25%

    OSFI has set the Domestic Stability Buffer, or DSB, at 2.25% of total risk-weighted assets, with effect from April 30, 2020.

    December 10, 2019 WebPage Regulatory News
    News

    EBA Issues Revised List of Validation Rules for Reporting by Banks

    EBA published a revised list of validation rules in its implementing technical standards on supervisory reporting.

    December 10, 2019 WebPage Regulatory News
    News

    SRB Holds Annual Conference, Reflects on Turning Policy into Action

    SRB published a report on its fourth annual conference that was held on October 10, 2019 in Brussels.

    December 10, 2019 WebPage Regulatory News
    News

    APRA Specifies Capital Treatment of Equity Investments in ABGF

    APRA published a letter to the authorized deposit-taking institutions outlining the regulatory capital treatment of their equity investments in the Australian Business Growth Fund (ABGF).

    December 09, 2019 WebPage Regulatory News
    News

    EBA Updates Guidelines on Reporting of Funding Plans of Banks

    EBA updated the guidelines on harmonized definitions and templates for the reporting of funding plans of credit institutions.

    December 09, 2019 WebPage Regulatory News
    RESULTS 1 - 10 OF 4305