FED Extends PPPLF to July 2021, Updates Forms FR Y-14Q and FR Y-9C
FED announced that it will extend, for a final time, the Paycheck Protection Program Liquidity Facility, or PPPLF, by an additional month, until July 30, 2021. The extension, which was approved by the Secretary of the Treasury, is being made as an operational accommodation to allow additional processing time for banks, community development financial institutions, and other financial institutions to pledge to the facility any Paycheck Protection Program, or PPP, loans approved by the Small Business Administration through the June 30, 2021 expiration of the PPP program. The PPPLF extends term credit to financial institutions making PPP loans and accepting the PPP loans as collateral. FED also updated form and instructions for FR Y-14Q and FR Y-9C reporting, in addition to updating the questions and answers (Q&A) on FR Y-14Q information collection.
FR Y-14Q is the data collection on capital assessments and stress testing. The FR Y-14Q collects detailed data on bank holding companies, savings and loan holding companies, and intermediate holding companies' various asset classes, capital components, and categories of pre-provision net revenue on a quarterly basis. The data in FR Y-14Q are used to assess the capital adequacy of large firms using forward-looking projections of revenue and losses, to support supervisory stress test models. Additionally, the information in the FR Y-9C data collection is used to assess and monitor the financial condition of holding company organizations, which may include parent, bank, and nonbank entities. This report collects basic financial data from a domestic bank holding company, a savings and loan holding company, a U.S intermediate holding company, and a securities holding company on a consolidated basis in the form of a balance sheet, an income statement, and detailed supporting schedules, including a schedule of off balance sheet items.
Related Links
- Press Release on PPPLF
- FR Y-14Q Form and Instructions
- Q&A on FR Y-14Q
- FR Y-9C Form and Instructions
- Reporting Form Updates
Keywords: Americas, US, Banking, Reporting, PPPLF, Paycheck Protection Program, Credit Risk, COVID-19, FR Y-14Q, FR Y-9C, Stress Testing, Q&A, FED
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