FED invites comment on a proposal to extend for three years, with revision, the mandatory Financial Statements for Holding Companies (FR Y-9). Comments must be submitted on or before March 05, 2018. FED proposed a number of revisions to the FR Y-9C requirements, most of which are consistent with proposed changes to the FFIEC Consolidated Reports of Condition and Income (Call Reports) (FFIEC 031, FFIEC 041, and FFIEC 051).
The proposed revisions to the FR Y-9C include deletions and consolidation of existing data items into new data items; reductions in reporting frequency from quarterly to semiannual and from quarterly to annual for certain data items on the FR Y-9C report; and new and revised reporting thresholds for certain data items. FED also proposed to make changes to the reporting forms and instructions for the FR Y-9C, FR Y-9LP, and FR Y-9SP, to implement accounting changes pertaining to equity securities under Accounting Standards update (ASU No. 2016-01, “Recognition and Measurement of Financial Assets and Financial Liabilities”). The accounting changes pertaining to equity securities would be effective beginning with the reports reflecting the March 31, 2018 reporting date and from June 30, 2018 for all other changes.
Among the FED information collections that have been under review, supplemental instructions for following reporting forms have been updated:
- Consolidated Financial Statements for Holding Companies (FR Y-9C)
- Supplement to the Consolidated Financial Statements for Bank Holding Companies (FR Y9-CS)
- Parent Company Only Financial Statements for Large Holding Companies (FR Y-9LP)
- Parent Company Only Financial Statements for Small Holding Companies (FR Y-9SP)
- Financial Statements for Employee Stock Ownership Plan Holding Companies (FR Y-9ES)
Comment Due Date: March 05, 2018
Keywords: Americas, US, Banking, Reporting, Reporting Forms, Supplemental Instructions, FR Y-9C, FED
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