[Federal Register Volume 61, Number 2 (Wednesday, January 3, 1996)]
[Notices]
[Pages 163-166]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-00030]
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FEDERAL RESERVE SYSTEM
Agency Forms Under Review
AGENCY: Board of Governors of the Federal Reserve System.
ACTION: Notice and a request for public comments.
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BACKGROUND:
On June 15, 1984, the Office of Management and Budget (OMB)
delegated to the Board of Governors of the Federal Reserve System
(Board) its approval authority under the Paperwork Reduction Act of
1995, as per 5 CFR 1320.16, to approve of and assign OMB control
numbers to collection of information requests and requirements
conducted or sponsored by the Board under conditions set forth in 5 CFR
1320 Appendix A.1. The Federal Reserve may not conduct or sponsor, and
the respondent is not required to respond to, an information collection
that has been extended, revised, or implemented on or after October 1,
1995, unless it displays a currently valid OMB control number. Board-
approved collections of information will be incorporated into the
official OMB inventory of currently approved collections of
information. A copy of the OMB 83-I and supporting statement and the
approved collection of information instrument will be placed into OMB's
public docket files. The following information collections, which are
being handled under this delegated authority, have received initial
Board approval and are hereby published for comment. At the end of the
comment period, the proposed information collection, along with an
analysis of comments and recommendations received, will be submitted to
the Board for final approval under OMB delegated authority. Comments
are invited on:
(a) Whether the proposed collection of information is necessary for
the proper performance of the Federal Reserve's functions; including
whether the information has practical utility;
(b) The accuracy of the Federal Reserve's estimate of the burden of
the proposed information collection, including the validity of the
methodology and assumptions used;
(c) Ways to enhance the quality, utility, and clarity of the
information to be collected; and
(d) Ways to minimize the burden of information collection on
respondents, including through the use of automated collection
techniques or other forms of information technology.
DATES: Comments must be submitted on or before March 4, 1996.
ADDRESSES: Comments, which should refer to the OMB control number (or
Agency form number in the case of a new information collection that has
not yet been assigned an OMB number), should be addressed to Mr.
William W. Wiles, Secretary, Board of Governors of the Federal Reserve
System, 20th and C Streets, N.W., Washington, DC 20551, or delivered to
the Board's mail room between 8:45 a.m. and 5:15 p.m., and to the
security control room outside of those hours. Both the mail room and
the security control room are accessible from the courtyard entrance on
20th Street between Constitution Avenue and C Street, N.W. Comments
received may be inspected in room M-P-500 between 9:00 a.m. and 5:00
p.m., except as provided in section 261.8 of the Board's Rules
Regarding Availability of Information, 12 CFR 261.8(a).
A copy of the comments may also be submitted to the OMB desk
officer for the Board: Milo Sunderhauf, Office of Information and
Regulatory Affairs, Office of Management and Budget, New Executive
Office Building, Room 3208, Washington, DC 20503.
FOR FURTHER INFORMATION CONTACT: Robert T. Maahs, Supervisory Financial
Analyst (202/872-4935) or Tina Robertson, Supervisory Financial Analyst
(202/452-2949). A copy of the proposed form and instructions, the
Paperwork Reduction Act Submission (OMB 83-I), supporting statement,
and other documents that will be placed into OMB's public docket files
once approved may be requested from the agency clearance officer, whose
name appears below.
Mary M. McLaughlin, Federal Reserve Board Clearance Officer (202-
452-3829), Division of Research and Statistics, Board of Governors of
the Federal Reserve System, Washington, DC 20551. Telecommunications
Device for the Deaf (TDD) users may contact Dorothea Thompson (202-452-
3544), Board of Governors of the Federal Reserve System, Washington, DC
20551.
SUPPLEMENTARY INFORMATION:
General Information
Under the Bank Holding Company Act of 1956, as amended, the Board
is responsible for the supervision and
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regulation of all bank holding companies. The FR Y-9 and FR Y-11 series
of reports historically have been, and continue to be, the primary
source of financial information on bank holding companies and their
nonbanking activities between on-site inspections. Financial
information, as well as ratios developed from the Y series reports, are
used to detect emerging financial problems, to review performance for
pre-inspection analysis, to evaluate bank holding company mergers and
acquisitions, and to analyze a holding company's overall financial
condition and performance as part of the Federal Reserve System's
overall analytical effort.
Proposal to approve under OMB delegated authority the revision of
the following reports:
1. Report title: Consolidated Financial Statements for Bank Holding
Companies
Agency form number: FR Y-9C
OMB control number: 7100-0128
Frequency: Quarterly
Reporters: Bank holding companies
Annual reporting hours: 183,927
Estimated average hours per response: Range from 5 to 1,250 hours
Number of respondents: 1,354
Small businesses are affected.
General description of report: The information collection is
mandatory [12 U.S.C. 1844(b) and (c)] and [12 CFR 225.5(b)].
Confidential treatment is not routinely given to the data in these
reports. However, confidential treatment for the reporting information,
in whole or in part, can be requested in accordance with the
instructions to the form.
Data reported on the FR Y-9C, Schedule HC-H, Column A, requiring
information on ``assets past due 30 through 89 days and still
accruing'' and memoranda item 2 are confidential pursuant to Section
(b)(8) of the Freedom of Information Act [5 U.S.C. 552(b)(8)].
The FR Y-9C consolidated financial statements are currently filed
by top-tier bank holding companies with total consolidated assets of
$150 million or more and by lower-tier bank holding companies that have
total consolidated assets of $1 billion or more. In addition, all
multibank bank holding companies with debt outstanding to the general
public or engaged in certain nonbank activities, regardless of size,
must file the FR Y-9C. The following bank holding companies are exempt
from filing the FR Y-9C, unless the Board specifically requires an
exempt company to file the report: bank holding companies that are
subsidiaries of another bank holding company and have total
consolidated assets of less than $1 billion; bank holding companies
that have been granted a hardship exemption by the Board under section
4(d) of the Bank Holding Company Act; and foreign banking organizations
as defined by section 211.23(b) of Regulation K.
The report includes a balance sheet, income statement, and
statement of changes in equity capital with supporting schedules
providing information on securities, loans, risk-based capital,
deposits, interest sensitivity, average balances, off-balance sheet
activities, past due loans, and loan charge-offs and recoveries.
The Federal Reserve proposes the following revisions to the FR Y-9C
that would be effective with the March 31, 1996 reporting date. Most of
the proposed new items are needed to maintain consistency with
comparable items recently proposed or previously added to the
commercial bank Reports of Condition and Income (Call Report).
A. Revisions related to consistent reporting with the Call Report
Schedule HC, Balance Sheet
(1) Revise the reporting requirements for item 17, ``Other borrowed
money with original maturity of one year or less,'' and item 18,
``Other borrowed money with original maturity of more than one year,''
to collect information based on remaining maturity instead of original
maturity as currently reported. This change in reporting will also
require a revision to line item 5 of Schedule HC-D, ``Interest
Sensitivity,'' to exclude the portion of long-term debt reported in
Schedule HC, item 18. Such reporting will no longer be applicable
because of the revisions to reporting ``other borrowed money.''
Schedule HC-B, Part I, Loans and Lease Financing Receivables
(1) Add a line item to report the amount of bankers acceptances of
other banks that are included in loans to depository institutions.
(2) Add a memorandum item to report the amount of commercial paper
included in loans.
Schedule HC-C, Deposit Liabilities in Domestic Offices
(1) Add two memorandum items to report:
(a) brokered deposits less than $100,000 with a remaining maturity
of one year or less, and
(b) brokered deposits less than $100,000 with a remaining maturity
of more than one year.
(2) Add a memorandum item to report the amount of time deposits
greater than $100,000 with a remaining maturity of one year or less.
(3) Add a memorandum item to report the amount of foreign office
time deposits with a remaining maturity of one year or less.
Schedule HC-F, Off-Balance-Sheet Items
(1) Add two line items to report the outstanding amount of small
business obligations sold with recourse and the amount of recourse
retained.
Schedule HI, Income Statement
(1) Combine the portion of item 5(c), ``Trading gains (losses) and
fees from foreign exchange'' with item 5(d), ``Other gains (losses) and
fees from trading assets and liabilities,'' into one line item.
(2) Add a line item to report ``other gains (losses) from foreign
transactions,'' which is currently included in line 5(c).
(3) Delete memorandum item 3, ``estimated foreign tax credits
(included in applicable income taxes, item 9 and 12 ).''
Schedule HI-B, Charge-offs and Recoveries and Changes in Allowance for
Loan and Lease Losses
(1) Add a line item to report the amount of credit losses on off-
balance-sheet derivative contracts.
B. Other FR Y-9C revisions
Schedule HC-A, Securities
(1) Move the footnote disclosure on page 21, ``Net unrealized
losses on equity securities with readily determinable fair values
reported in Schedule HC-A, items 4.b and 5.b (net of tax effect),''
into the body of Schedule HC-A.
Schedule HC-G, Memoranda
Add two line items to report:
(a) The amount of excess servicing fees receivable (other than
excess residential mortgage servicing fees receivable) and
(b) The amount of excess servicing fees receivable that represent a
credit enhancement for securitized receivables.
Schedule HC-I, Risk-Based Capital
(1) Combine line items 10 and 11 on Schedule HC-I, Part II, into
one line item and change the caption to ``credit equivalent amount of
off-balance-sheet derivative contracts'' (an identical caption change
will occur on Schedule HC-J, Part II, line 6).
(2) Delete memorandum item 6(a) of Part I, discounted value of
purchased mortgage servicing rights.
2. Report title: Parent Company Only Financial Statements for Large
Bank Holding Companies
Agency form number: FR Y-9LP
OMB control number: 7100-0128
Frequency: Quarterly
Reporters: Bank holding companies
Annual reporting hours: 29,562
Estimated average hours per response: Range from 2.0 to 13.5 hours
Number of respondents: 1,646
Small businesses are affected.
[[Page 165]]
General description of report: The information collection is
mandatory [12 U.S.C. 1844(b) and (c)] and [12 CFR 225.5(b)].
Confidential treatment is not routinely given to the information in
these reports. However, confidential treatment for the report
information, in whole or in part, can be requested in accordance with
the instructions to the form.
The FR Y-9LP includes standardized financial statements filed
quarterly on a parent company only basis from each bank holding company
that files the FR Y-9C. In addition, for tiered bank holding companies,
a separate FR Y-9LP must be filed for each lower tier bank holding
company if the top tier bank holding company files the FR Y-9C. The
following bank holding companies are exempt from filing the FR Y-9LP,
unless the Board specifically requires an exempt company to file the
report: bank holding companies that have been granted a hardship
exemption by the Board under section 4(d) of the Bank Holding Company
Act; and foreign banking organizations as defined by section 211.23(b)
of Regulation K.
The Federal Reserve proposes the following revisions to the FR Y-
9LP. The proposed revisions are needed to maintain consistency with
comparable items on the FR Y-9C, and would be effective with the March
31, 1996 reporting date.
Schedule PC, Parent Company Only Balance Sheet
Revise the reporting requirements for line item 13, ``Borrowings
with an original maturity of one year or less,'' and line item 14,
``Other borrowed funds with an original maturity of greater than one
year,'' to collect information based on remaining maturity instead of
original maturity as currently reported.
Schedule PC-B, Memoranda
Revise the reporting requirements of line item 2, ``Amount of
borrowings included in Schedule PC, items 14 through 16 and item 18
that is scheduled to mature with one year (exclude short-term debt),''
to exclude line item 14 because line item 14 of Schedule PC will be
based on remaining maturity and will no longer be applicable to this
line item.
3. Report title: Quarterly Financial Statements of Nonbank
Subsidiaries of Bank Holding Companies
Agency form number: FR Y-11Q
OMB control number: 7100-0244
Frequency: Quarterly
Reporters: Bank holding companies
Annual reporting hours: 6,696
Estimated average hours per response: Range from 3.0 to 8.0 hours
Number of respondents: 270
Small businesses are affected.
General description of report: The information collection is
mandatory [12 U.S.C. 1844(b) and (c)] and [12 CFR 225.5(b)].
Confidential treatment is not routinely given to most of the data in
these reports. However, confidential treatment for the report
information, in whole or in part, can be requested in accordance with
the instructions to the form. FR Y-11Q, memorandum item 7.a ``loans and
leases past due 30 through 89 days'' and FR Y-11Q, memorandum item 7.d,
``loans and leases restructured and included in past due and nonaccrual
loans'' are confidential pursuant to Section (b)(8) of the Freedom of
Information Act [5 U.S.C. 552(b)(8)].
The FR Y-11Q is filed quarterly by the top tier bank holding
companies for each nonbank subsidiary of a bank holding company with
total consolidated assets of $150 million or more in which the nonbank
subsidiary has total assets of 5 percent or more of the top-tier bank
holding company's consolidated Tier 1 capital, or where the nonbank
subsidiary's total operating revenue equals 5 percent or more of the
top-tier bank holding company's consolidated total operating revenue.
The report consists of a balance sheet, income statement, off-balance-
sheet items, information on changes in equity capital, and a memoranda
section.
The Federal Reserve proposes the following revisions to the FR Y-
11Q to be effective with the March 31, 1996 reporting date:
Balance Sheet
(1) Delete line items 11 and 18, ``Balances with nonrelated
institutions.''
(2) Revise the reporting requirements of line item 15, ``Borrowing
with original maturity of one year or less (including federal funds
purchased),'' and line item 16, ``Borrowing with an original maturity
of more than one year (including subordinated debt),'' to collect
information based on remaining maturity instead of original maturity as
currently reported.
(3) Delete memorandum item 13, ``Borrowings scheduled to mature in
less than one year.''
Income Statement
Add a line item to report the amount of equity in the undistributed
income (losses) of subsidiaries.
4. Report title: Annual Financial Statements of Nonbank
Subsidiaries
Agency form number: FR Y-11I
OMB control number: 7100-0244
Frequency: Annual
Reporters: Bank holding companies
Annual reporting hours: 13,216
Estimated average hours per response: Range from .4 to 8.0 hours
Number of respondents: 4,130
Small businesses are affected.
General description of report: The information collection is
mandatory [12 U.S.C. 1844(b) and (c)] and [12 CFR 225.5(b)].
Confidential treatment is not routinely given to the data in these
reports. However, confidential treatment for the report information, in
whole or in part, can be requested in accordance with the instructions
to the form. FR Y-11I, Schedule A, item 7.a, ``loans and leases past
due 30 through 89 days '' and FR Y-11I, Schedule A, item 7.d, ``loans
and leases restructured and included in past due and nonaccrual loans''
are confidential pursuant to Section (b)(8) of the Freedom of
Information Act [5 U.S.C. 552(b)(8)].
The FR Y-11I is filed annually by the top tier bank holding
companies for each of their nonbank subsidiaries that are not required
to file a quarterly FR Y-11Q. The FR Y-11I report consists of similar
balance sheet, income statement, off-balance-sheet, and change in
equity capital information that is included on the FR Y-11Q. In
addition, the FR Y-11I also includes a loan schedule to be submitted
only by respondents engaged in credit extending activities.
The Federal Reserve proposes the following revisions to the FR Y-
11I to be effective with the December 31, 1996 reporting date:
Balance Sheet
(1) Delete line items 11 and 18, ``Balances with nonrelated
institutions.''
(2) Revise the reporting requirements of line item 15, ``Borrowing
with original maturity of one year or less (including federal funds
purchased),'' and line item 16, ``Borrowing with an original maturity
of more than one year (including subordinated debt),'' to collect
information based on remaining maturity instead of original maturity as
currently reported.
Income Statement
Add a line item to report the amount of equity in the undistributed
income (losses) of subsidiaries.
REGULATORY FLEXIBILITY ACT ANALYSIS
The Board certifies that the above bank holding company reporting
requirements are not expected to have a significant economic impact on
small entities within the meaning of the Regulatory Flexibility Act (5
U.S.C. 601 et seq.). The reporting requirements for the small companies
require significantly fewer items of data to be submitted than the
amount of information required of large bank holding companies.
The information that is collected on the reports is essential for
the detection of emerging financial problems, the assessment of a
holding company's
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financial condition and capital adequacy, the performance of pre-
inspection reviews, and the evaluation of expansion activities through
mergers and acquisitions. The imposition of the reporting requirements
is essential for the Board's supervision of bank holding companies
under the Bank Holding Company Act.
Board of Governors of the Federal Reserve System, December 27,
1995.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 96-00030 Filed 1-2-96; 8:45AM]
Billing Code 6210-01-F
