View Information Collection Request (ICR) Package

OMB Control No: 7100-0128	ICR Reference No: 201809-7100-001
Status: Historical Active	Previous ICR Reference No: 201807-7100-019
Agency/Subagency: FRS	Agency Tracking No: FR Y-9
Title: Financial Statements for Holding Companies
Type of Information Collection: Revision of a currently approved collection	Common Form ICR: No
Type of Review Request: Emergency	Approval Requested By: 09/11/2018
OIRA Conclusion Action: Approved without change	Conclusion Date: 09/10/2018
Retrieve Notice of Action (NOA)	Date Received in OIRA: 09/06/2018
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	03/31/2019	6 Months From Approved	08/31/2021
Responses	14,424	0	14,424
Time Burden (Hours)	179,845	0	179,845
Cost Burden (Dollars)	0	0	0

Abstract: The Board requires bank holding companies, savings and loan holding companies, securities holding companies, and U.S. intermediate holding companies (collectively holding companies (HCs)) to provide standardized financial statements to fulfill the Board’s statutory obligation to supervise these organizations. HCs file the FR Y-9C and FR Y-9LP quarterly, the FR Y-9SP semiannually, the FR Y-9ES annually, and the FR Y-9CS on a schedule that is determined when this supplement is used.

Emergency Justfication: The Board has revised the FR Y-9C report effective beginning with the June 30, 2018, report date. As described further below, the revisions arise from Congressional enactment of the Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA). The Board has revised the FR Y-9C to reflect section 202 of EGRRCPA, which amends the definitions of reciprocal brokered deposits and brokered deposits. Section 214 of EGRRCPA provides that the Board may only require a depository institution, when calculating its risk-weighted assets and, hence, its risk-based capital ratios, to assign a heightened risk weight to an HVCRE exposure if the exposure meets certain conditions. So that holding companies report in a manner consistent with their subsidiary depository institutions, the Board is implementing this revision to the FR Y 9C. In order for the FR Y-9C to reflect sections 202 and 214 of EGRRCPA, which became effective immediately when EGRRCPA was signed on May 24, 2018, the Board cannot comply with the normal clearance process and still receive the June 30, 2018, financial data in a timely manner. Therefore, the Board has determined that the revisions to the FR Y-9C described above must be instituted quickly and public participation in the approval process would substantially interfere with the Board’s ability to perform its statutory obligations arising from EGRRCPA.

Authorizing Statute(s): US Code: 12 USC 1844(c) Name of Law: Bank Holding Company Act
   US Code: 12 USC 1467a(b) Name of Law: Home Owners' Loan Act
   US Code: 12 USC 1850a(c)(1) Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
   US Code: 12 USC 5365 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act

Citations for New Statutory Requirements: None

Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

Federal Register Notices & Comments
Did the Agency receive public comments on this ICR? No

ICR Summary of Burden

	Total Approved	Previously Approved
Annual Number of Responses	14,424	14,424
Annual Time Burden (Hours)	179,845	179,845
Annual Cost Burden (Dollars)	0	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement:

Annual Cost to Federal Government: $2,335,200

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination. Yes

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination. No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Yes

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Uncollected

Agency Contact: Scott Farmer 202-452-2253 Scott.W.Farmer@frb.gov

View ICR - OIRA Conclusion