Notice2025-22264
Agency Information Collection Activities: Announcement of Board Approval under Delegated Authority and Submission to OMB
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Published
December 8, 2025
Effective
March 31, 2026
Issuing agencies
Federal Reserve System
Abstract
The Board of Governors of the Federal Reserve System (Board) is adopting a proposal to extend for three years, with revision, the Financial Statements for Holding Companies (FR Y-9; OMB No. 7100-0128) and to revise, without extension, the Capital Assessments and Stress Testing Reports (FR Y-14A/Q/M; OMB No. 7100-0341).
Full Text
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<title>Federal Register, Volume 90 Issue 233 (Monday, December 8, 2025)</title>
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[Federal Register Volume 90, Number 233 (Monday, December 8, 2025)]
[Notices]
[Pages 56756-56759]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2025-22264]
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FEDERAL RESERVE SYSTEM
Agency Information Collection Activities: Announcement of Board
Approval under Delegated Authority and Submission to OMB
AGENCY: Board of Governors of the Federal Reserve System.
SUMMARY: The Board of Governors of the Federal Reserve System (Board)
is adopting a proposal to extend for three years, with revision, the
Financial Statements for Holding Companies (FR Y-9; OMB No. 7100-0128)
and to revise, without extension, the Capital Assessments and Stress
Testing Reports (FR Y-14A/Q/M; OMB No. 7100-0341).
DATES: The revisions are effective March 31, 2026.
FOR FURTHER INFORMATION CONTACT: Federal Reserve Board Clearance
Officer--Nuha Elmaghrabi--Office of the Chief Data Officer, Board of
Governors of the Federal Reserve System, <a href="/cdn-cgi/l/email-protection#58362d3039763d3435393f302a393a31183e2a3a763f372e"><span class="__cf_email__" data-cfemail="39574c5158175c5554585e514b585b50795f4b5b175e564f">[email protected]</span></a>, (202)
452-3884.
Office of Management and Budget (OMB) Desk Officer for the Federal
Reserve Board, Office of Information and Regulatory Affairs, Office of
Management and Budget, New Executive Office Building, Room 10235, 725
17th Street NW, Washington, DC 20503, or by fax to (202) 395-6974.
SUPPLEMENTARY INFORMATION: On June 15, 1984, OMB delegated to the Board
authority under the Paperwork Reduction Act (PRA) to approve and assign
OMB control numbers to collections of information conducted or
sponsored by the Board. Board-approved collections of information are
incorporated into the official OMB inventory of currently approved
collections of information. The OMB inventory, as well as copies of the
PRA Submission, supporting statements (which contain more detailed
information about the information collections and burden estimates than
this notice), and approved collection of information instrument(s) are
available at <a href="https://www.reginfo.gov/public/do/PRAMain">https://www.reginfo.gov/public/do/PRAMain</a>. These documents
are also available on the Federal Reserve Board's public website at
<a href="https://www.federalreserve.gov/apps/reportingforms/review">https://www.federalreserve.gov/apps/reportingforms/review</a> or may be
requested from the agency clearance officer, whose name appears above.
On the page displayed at the link above, you can find the supporting
information by referencing the collection identifier, FR Y-9 or FR Y-
14A/Q/M.
Final Approval Under OMB Delegated Authority of the Extension for Three
Years, With Revision of the Following Information Collection
Collection title: Financial Statements for Holding Companies.\1\
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\1\ In addition to the FR Y-9, the Board proposes to revise
without extension the Capital Assessments and Stress Testing Reports
(FR Y-14A/Q/M; OMB No. 7100-0341) as a part of this clearance
package.
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Collection identifier: FR Y-9 reports.
OMB control number: 7100-0128.
General description of collection: The Board requires bank holding
companies, most savings and loan holding companies, securities holding
companies, and U.S. intermediate holding companies (collectively, HCs)
to provide standardized financial statements through one or more of the
FR Y-9 reports. The information collected on the FR Y-9 reports is
necessary for the Board to identify emerging financial risks and
monitor the safety and soundness of HC operations.
The Consolidated Financial Statements for Holding Companies (FR
[[Page 56757]]
Y-9C) consists of standardized financial statements for HCs similar to
the Call Reports filed by commercial banks. The FR Y-9C collects
consolidated data and is filed quarterly by top-tier HCs with total
consolidated assets of $3 billion or more.
The Parent Company Only Financial Statements for Large Holding
Companies (FR Y-9LP), must be submitted quarterly by each HC that files
the FR Y-9C, as well as by each of its subsidiary HCs. The report
consists of standardized financial statements, including the following
schedules: Income Statement, Cash Flow Statement, Balance Sheet,
Investments in Subsidiaries and Associated Companies, Memoranda, and
Notes to the Parent Company Only Financial Statements.
The Parent Company Only Financial Statements for Small Holding
Companies (FR Y-9SP), is filed semiannually by HCs with total
consolidated assets of less than $3 billion. In a banking organization
with total consolidated assets of less than $3 billion that has tiered
HCs, each HC in the organization must submit, or have the top-tier HC
submit on its behalf, a separate FR Y-9SP. This report collects basic
balance sheet and income data for the parent company, as well as data
on its intangible assets and intercompany transactions.
The Financial Statements for Employee Stock Ownership Plan Holding
Companies (FR Y-9ES) is filed annually by each employee stock ownership
plan (ESOP) that is also an HC. The report collects financial data on
the ESOP's benefit plan activities. The FR Y-9ES consists of four
schedules: Statement of Changes in Net Assets Available for Benefits,
Statement of Net Assets Available for Benefits, Memoranda, and Notes to
the Financial Statements.
The instructions to each of the FR Y-9C, FR Y-9LP, FR Y-9SP, and FR
Y-9ES state that respondent HCs should retain workpapers and other
records used in the preparation of the reports for a period of three
years following submission. In addition, HCs must maintain in their
files a manually signed and attested printout of the data submitted
under each form for a period of three years.
The Supplement to the Consolidated Financial Statements for Holding
Companies (FR Y-9CS) is a voluntary, free-form supplemental report that
the Board may utilize to collect critical additional data deemed to be
needed from HCs in an expedited manner. The FR Y-9CS data collections
are used to assess and monitor emerging issues related to HCs, and the
report is intended to supplement the other FR Y-9 reports. The data
requested by the FR Y-9CS would depend on the Board's data needs in any
given situation. For example, changes made by the Financial Accounting
Standards Board may introduce into generally accepted accounting
principles new data items that are not currently collected by the other
FR Y-9 reports. The Board could use the FR Y-9CS report to collect
these data until the items are implemented into the other FR Y-9
reports.
Frequency: Quarterly, semiannual, annual, and as needed.
Respondents: HCs.
Total estimated number of respondents:
Reporting
FR Y-9C (non-advanced approaches holding companies with less than
$5 billion in total assets): 107; FR Y-9C (non-advanced approaches
holding companies with $5 billion or more in total assets): 236; FR Y-
9C (advanced approaches holding companies): 9; FR Y-9LP: 411; FR Y-9SP:
3,596; FR Y-9ES: 73; FR Y-9CS: 236.
Recordkeeping
FR Y-9C: 352; FR Y-9LP: 411; FR Y-9SP: 3,596; FR Y-9ES: 73; FR Y-
9CS: 236.
Estimated average hours per response:
Reporting
FR Y-9C (non-advanced approaches holding companies with less than
$5 billion in total assets): 35.59; FR Y-9C (non-advanced approaches
holding companies with $5 billion or more in total assets): 44.23; FR
Y-9C (advanced approaches holding companies): 50.76; FR Y-9LP: 5.27; FR
Y-9SP: 5.45; FR Y-9ES: 0.50; FR Y-9CS: 0.50.
Recordkeeping
FR Y-9C: 1; FR Y-9LP: 1; FR Y-9SP: 0.50; FR Y-9ES: 0.50; FR Y-9CS:
0.50.
Total estimated change in burden: 794.
Total estimated annual burden hours: 115,283.
Current actions: On October 2, 2024, the Board published an initial
notice in the Federal Register (89 FR 80244) requesting public comment
for 60 days on the extension, with revision, of the FR Y-9 and a
revision, without extension of the FR Y-14. The proposal would (1) add
line items to the FR Y-9C to capture additional data on exposures to
nondepository financial institutions (NDFIs) from HCs with assets of
$10 billion or more, (2) provide additional clarity on reportable loans
to NDFIs and other loans, (3) add an item to the FR Y-9C to capture the
amount of structured financial products guaranteed by U.S. Government
or sponsored agencies, (4) permit HCs to use electronic signatures to
comply with the FR Y-9C signature and attestation requirement, and (5)
instruct FR Y-9LP filers to report leases in accordance with Accounting
Standards Update (ASU) 2016-02. These proposed revisions would be
consistent with revisions to the Federal Financial Institutions
Examination Council (FFIEC) Consolidated Reports of Condition and
Income (Call Reports) that were effective December 31, 2024.\2\ In
addition, the October 2024 proposal would revise, without extension,
the FR Y-14Q to align one item with the proposed FR Y-9C NDFI line
items. The comment period for this notice expired on December 2, 2024;
one comment letter was received from a banking trade association and
one letter was received from a public interest law firm. The letters
generally were supportive of the proposed revisions, emphasised the
need for consistency across regulatory reports, and made certain
specific recommendations. After considering the comments received on
the proposal, the Board is proceeding with the revisions but with
certain modifications as discussed below.
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\2\ FFIEC 031/041/051 (OMB No. 7100-0036). See 89 FR 45046 (May
22, 2024).
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Detailed Discussion of Public Comments
I. Modifications to Effective Date and FR Y-9C Instructions
A. Modified Effective Date
One commenter requested that the effective date of the FR Y-9C
revisions related to the reporting of loans to NDFIs, and the reporting
of purpose and non-purpose loans secured by securities reported in
Schedule HC-C, item 9.b.(1), be effective as of December 31, 2024, and
that firms be permitted to report on a best efforts basis until June
30, 2025. The commenter noted that this period of best efforts
reporting is beneficial to firms who are actively developing new
processes and procedures to comply with the new reporting requirements.
Additionally, the commenter stated that this reporting timeline should
be extended to other applicable regulatory reporting forms based on FR
Y-9 reporting and impacted by the currently proposed changes, including
the Report of Selected Assets and Liabilities of Domestically Chartered
Commercial Banks and U.S. Branches and Agencies of Foreign Banks (FR
2644) and Consolidated Report of Condition and
[[Page 56758]]
Income for Edge and Agreement Corporations (FR 2886b).
In response, the Board acknowledges the commenter's request,
however, due to the proposal being finalized after the June 30, 2025,
as of date, the Board is adopting the changes starting March 31, 2026.
However, beginning with the December 31, 2025 report date, HCs may
choose, on a best-efforts basis, to report the existing FR Y-9C NDFI
line items using the new NDFI definitions.
B. Modified Schedule HC-C, Item 9.b.(1) Instructions
One commenter noted that the proposed instructions of Schedule HC-
C, line item 9.b.(1), state to exclude loans to (1) ``banks in foreign
countries that act as brokers and dealers in securities'' and (2)
``depository institutions for the purpose of purchasing or carrying
securities'' from this line item. However, the commenter noted that
this is contrary to other instructions for this line item, which state
that firms should include ``all purpose and non-purpose securities-
based margin loans, regardless of borrower type.'' Therefore, to avoid
possible inconsistencies in reporting, the commenter requested that the
Board remove exclusions (1) and (2) from the instructions of Schedule
HC-C line item 9.b.(1), and implement parallel changes to the Call
Report instructions.
The Board notes that Schedule HC-C item 9.b.(1) should reflect
balances of loans to banks in foreign countries and loans to depository
institutions currently reflected on Schedule HC-C, item 2, ``Loans to
Depository Institutions and acceptances of other banks'' and consistent
with the Call Report instructions. Therefore, current exclusions (1)
and (2) will be removed in the instructions of Schedule HC-C line item
9.b.(1).
II. Other Recommendations for Future Consideration
The commenters requested several clarifications and revisions to
the proposed instructions of Schedule HC-C, items 9.a and 9.b.(1) as
described below and also requested that any corresponding changes be
made to the Call Report instructions.
Recommendations Related to NDFIs
The commenters requested more clarity on the definition of NDFIs,
with one commenter highlighting specific entity types for further
consideration, as follows.
A. Loans to Securitization Vehicles
The commenter noted that the proposed instructions for FR Y-9C
Schedule HC-C line item 9.a, loans to NDFIs, subparagraph (5) states to
include ``loans to securitization vehicles.'' However, the commenter
noted that there are instances where the underlying assets of a
securitization vehicle are a financial product, which holding companies
would denote as a loan to an NDFI. In the case where the underlying
asset is a physical asset such as automobiles or planes, the reporting
treatment is less clear as this would not typically be considered an
NDFI. Therefore, the commenter requested clarification on whether loans
to all securitization vehicles should be reported as loans to NDFIs, or
only when the underlying assets are financial products.
B. Loans to Financial Entities That Provide Services Similar to Those
of Traditional Banks
The commenter requested clarification on whether loans that are
made to certain entities that provide services similar to those of
traditional banks, but in which there is no financing, and no
acceptance of deposits, should be classified as loans to NDFIs. The
commenter also requested clarification on whether loans to central
counterparties (CCPs) should be reported as loans to NDFIs.
C. Loans to Leasing and Renting Companies
The commenter noted that in the proposed instructions of the FR Y-
14Q NDFI proposal, Schedule H.1 Field 120, NDFI Obligor Type includes
``Leasing and non-real estate rental'' and the proposed inclusion of
these obligor types in the FR Y-14Q could be interpreted to indicate
that the Board intends these items to be reported as NDFIs for the
purposes of the FR Y-9C. However, the commenter stated there are
leasing and renting companies who do not provide any financing or
banking activities, for example, equipment or automobile renting
companies. Therefore, the commenter requested clarification on whether
all loans to rental and leasing companies, including leasing and non-
real estate rental, should be included in line item 9.a, loans to
NDFIs.
In addition to these definitional considerations, a commenter
suggested requiring more granular information on the terms and
conditions of loans to NDFIs, such as interest rates, collateral, and
maturity dates, and also to collect data on the purpose of loans to
NDFIs to provide insights into the flow of funds within the financial
system. This commenter suggested that the Board (1) engage with
accounting standard-setting bodies to ensure reporting forms remain
current with evolving accounting standards and (2) provide clear
guidance to financial institutions on implementing the revised
reporting requirements, including illustrative examples and frequently
asked questions.
Recommendations Related to Loans for Purchasing or Carrying Securities
One commenter noted that the instructions for Schedule HC-C item
9.b.(1) reflects in subparagraph (1) ``all loans, whether secured or
unsecured, to any other borrower for the purpose of purchasing or
carrying securities.'' The commenter also noted that subparagraph (2)
of the instructions for the same line item reflects the inclusion of
``all purpose and non-purpose securities-based margin loans, regardless
of borrower type, that are predominately secured (greater than 50% of
underlying collateral) by securities with readily determinable fair
values.'' The commenter mentioned that while subparagraph (1) appears
clear that ``all loans, whether secured or unsecured, to any other
borrower for the purpose of purchasing or carrying securities'' should
be reported, the inclusion of ``purpose loans'' in subparagraph (2) may
create confusion that only those predominately secured by securities
with readily determinable fair values should be reported in Schedule
HC-C item 9.b.(1). The commenter requested that the instructions
clarify that all loans for the purpose of purchasing or carrying
securities (all purpose loans) are reported in Schedule HC-C line item
9.b.(1) and remove the language indicating ``purpose loans'' in
subparagraph (2) of Schedule HC-C line item 9.b.(1).
In addition, the commenter noted that the proposed language in
subparagraph (2) of the instructions for Schedule HC-C, item 9.b.(1),
further limits non-purpose loans that are included in this line item,
by restricting inclusion to just those structured as ``margin loans''
and ``that are predominately secured by securities with readily
determinable fair values'', which would introduce entirely new and
burdensome criteria for the classification of loans on Schedule HC-C.
Specifically, the commenter stated that the proposed instructions
incorporate collateral market values assessment (i.e., assessing
whether they have readily determinable fair value) and credit risk
management practices (through only margin loans) as a criteria for line
item 9.b.(1) and it is not clear in the proposed instructions whether
the collateral market value
[[Page 56759]]
assessment should be performed for each reporting period. The commenter
also stated the proposed instructions would be burdensome to implement
as they are not aligned with the existing classification methods of
items in Schedule HC-C, which are classified using borrower type,
purpose, and collateral. The commenter requested that the Board remove
the provisions regarding ``margin loans'' and ``predominately secured
by securities with readily determinable fair values'' from subparagraph
(2) in the instructions of Schedule HC-C line item 9.b.(1) to clarify
that all non-purpose securities-based loans, regardless of borrower
type, are included in this item.
The commenter noted that Schedule HC-C, item 9.b.(1) would be
revised to include all non-purpose margin loans, if they are secured
predominantly by securities with readily determinable fair value.
However, the commenter also noted that the current FR Y-14Q, Schedule
H.1 instructions provide that loans reported on Schedule HC-C, item
9.b.(1), loans for purchasing or carrying securities, would be excluded
from Schedule H.1.
The commenter also noted that the FR Y-14Q instructions also
provide that non-purpose loans reportable in the relevant FR Y-9C,
Schedule HC-C categories would be reported in the FR Y-14Q, regardless
of whether those loans are ``graded'' and that ``for the purposes of
this schedule, non-purpose loans are loans collateralized by securities
made for any purpose other than purchasing or carrying securities.''
Therefore, the commenter stated that for fourth quarter 2024 reporting,
firms are planning to align the relevant reporting of items in the FR
Y-9C and FR Y-14, consistent with the existing instructions.
All FR Y-9C and FR Y-14 respondents should report according to the
most current report form and instructions published on the Board's
public website, until the proposed revisions are effective.
III. Conclusion
In response to the comments received, the Board is proceeding with
the proposed revisions, with modifications as described in Sections I
above, to align the FR Y-9C with the relevant Call Report revisions
that were effective December 31, 2024.\3\ Furthermore, no comments were
received regarding the proposed reporting of guaranteed structured
financial products on the FR Y-9C, the adoption of standards for
electronic signatures, the reporting of leases on the FR Y-9LP
consistent with ASU 2016-02, or the revision of the FR Y-14Q line item,
and these revisions will be finalized as proposed. In response to
commenters request for consisteny across reports, the FR Y-14
instructions will include direct reference to relevant FR Y-9C
memoranda items. All the revisions are effective as of the March 31,
2026, report date. However, beginning with the December 31, 2025 report
date, HCs may choose, on a best-efforts basis, to report the existing
FR Y-9C NDFI line items using the new NDFI definitions.
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\3\ See 89 FR 45046 (May 22, 2024).
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The recommendations noted in Section II will continue to be
considered by staff and clarifications or revisions related to the
instructions of Schedule HC-C, items 9.a and 9.b.(1) may be proposed at
a later date. Staff would consider whether proposed changes should be
aligned with the Call Reports, subject to the PRA notice and comment
process.
Board of Governors of the Federal Reserve System, December 4,
2025.
Erin M. Cayce,
Assistant Secretary of the Board.
[FR Doc. 2025-22264 Filed 12-5-25; 8:45 am]
BILLING CODE 6210-01-P
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