FED Proposes Revisions to Multiple Reporting Forms in August 2017
FED is inviting comments on a proposal to extend, with revision, the mandatory Banking Organization Systemic Risk Report (FR Y-15). Comments must be submitted on or before October 23, 2017. FED also proposed rulemaking and draft instructions for several reporting forms. These reporting forms are Consolidated Reports of Condition and Income for a Bank with Domestic and Foreign Offices (FFIEC 031), Consolidated Reports of Condition and Income for a Bank with Domestic Offices Only (FFIEC 041), Consolidated Reports of Condition and Income for a Bank with Domestic Offices Only and Total Assets Less than USD 1 Billion (FFIEC 051), Consolidated Financial Statements for Holding Companies (FR Y-9C), and Capital Assessments and Stress Testing Reports (FR Y-14A and FR Y-14Q).
Among the FED information collections that have been under review, the supplemental information for Capital Assessments and Stress Testing (FR Y-14A) have been updated. The reporting frequency of the agency form number FR Y-15 is said to be quarterly. The respondents for FY Y-15 include U.S. bank holding companies, covered savings and loan holding companies, and U.S. intermediate holding companies of foreign banking organizations with USD 50 billion or more of total consolidated assets, along with any bank holding company designated as a global systemically important bank holding company that does not otherwise meet the consolidated assets threshold for bank holding companies.
Related Links
Comment Due Date: October 23, 2017
Keywords: Americas, United States of America, Banking, Accounting, Reporting, Systemic Risk, Stress Testing, FED
Featured Experts
Emil Lopez
Credit risk modeling advisor; IFRS 9 researcher; data quality and risk reporting manager
James Partridge
Credit analytics expert helping clients understand, develop, and implement credit models for origination, monitoring, and regulatory reporting.
Nihil Patel
Data scientist; SaaS product designer; credit portfolio analyst and product strategist; portfolio modeler; correlation researcher
Previous Article
ECB on Supervisory and Statistical Granular Data Modeling at CNBRelated Articles
SEC Finalizes Climate-Related Disclosures Rule
The U.S. Securities and Exchange Commission (SEC) has finalized the long-awaited rule that mandates climate-related disclosures for domestic and foreign publicly listed companies in the U.S.
US Regulators Release Stress Test Scenarios for Banks
The U.S. regulators recently released baseline and severely adverse scenarios, along with other details, for stress testing the banks in 2024. The relevant U.S. banking regulators are the Federal Reserve Bank (FED), the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC).
Asian Governments Aim for Interoperability in AI Governance Frameworks
The regulatory landscape for artificial intelligence (AI), including the generative kind, is evolving rapidly, with governments and regulators aiming to address the challenges and opportunities presented by this transformative technology.
EBA Proposes Operational Risk Standards Under Final Basel III Package
The European Union (EU) has been working on the final elements of Basel III standards, with endorsement of the Banking Package and the publication of the European Banking Authority (EBA) roadmap on Basel III implementation in December 2023.
EFRAG Proposes XBRL Taxonomy and Standard for Listed SMEs Under ESRS
The European Financial Reporting Advisory Group (EFRAG), which plays a crucial role in shaping corporate reporting standards in European Union (EU), is seeking comments, until May 21, 2024, on the Exposure Draft ESRS for listed SMEs.
ECB to Expand Climate Change Work in 2024-2025
Banking regulators worldwide are increasingly focusing on addressing, monitoring, and supervising the institutions' exposure to climate and environmental risks.
BIS Bulletin Examines Cognitive Limits of Large Language Models
The use cases of generative AI in the banking sector are evolving fast, with many institutions adopting the technology to enhance customer service and operational efficiency.
ECB is Conducting First Cyber Risk Stress Test for Banks
As part of the increasing regulatory focus on operational resilience, cyber risk stress testing is also becoming a crucial aspect of ensuring bank resilience in the face of cyber threats.
EBA Continues Momentum Toward Strengthening Prudential Rules for Banks
A few years down the road from the last global financial crisis, regulators are still issuing rules and monitoring banks to ensure that they comply with the regulations.
EU and UK Agencies Issue Updates on Final Basel III Rules
The European Commission (EC) recently issued an update informing that the European Council and the Parliament have endorsed the Banking Package implementing the final elements of Basel III standards