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Please note that the OMB number and expiration date may not have been determined when this Information Collection Request and associated Information Collection forms were submitted to OMB. The approved OMB number and expiration date may be found by clicking on the Notice of Action link below.
View ICR - OIRA Conclusion
OMB Control No:
7100-0128
ICR Reference No:
202007-7100-007
Status:
Historical Active
Previous ICR Reference No:
202005-7100-007
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:
07/23/2020
OIRA Conclusion Action:
Approved without change
Conclusion Date:
07/23/2020
Retrieve Notice of Action (NOA)
Date Received in OIRA:
07/23/2020
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
01/31/2021
6 Months From Approved
06/30/2023
Responses
24,270
0
24,270
Time Burden (Hours)
119,725
0
119,667
Cost Burden (Dollars)
0
0
0
Abstract:
The Board requires bank holding companies (BHCs), most savings and loan holding companies (SLHCs), any securities holding companies, and U.S. intermediate holding companies (IHCs) (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.
Emergency Justfication:
The delegation of authority to the Board from OMB that permits the Board to approve collections of information under the Paperwork Reduction Act includes the authority to temporarily approve a collection of information without seeking public comment. To exercise this authority, the Board must determine that a new collection of information or a change to an existing collection must be instituted quickly and that public participation in the approval process would substantially interfere with the Board’s ability to perform its statutory obligation. Following the temporary approval of an information collection, the Board must conduct a normal delegated review of the collection within six months, including publishing in the Federal Register a notice seeking public comment. In response to recent economic disruptions and volatility in U.S. financial markets caused by the spread of Coronavirus Disease 2019 (COVID-19), the Board temporarily revised the FR Y-9C effective for the June 30, 2020, as-of date.
Authorizing Statute(s):
US Code:
12 USC 5365
Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
US Code:
12 USC 1850a(c)(1)(A)
Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
US Code:
12 USC 1467a(b)(2)
Name of Law: Home Owners’ Loan Act
US Code:
12 USC 1467a(b)(3)
Name of Law: Home Owners’ Loan Act
US Code:
12 USC 511(a)(1)
Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
US Code:
12 USC 1844
Name of Law: Bank Holding Company Act of 1956
Citations for New Statutory Requirements:
PL: Pub.L. 116 - 136 134 Stat. 281 Name of Law: Coronavirus Aid, Relief, and Economic Security Act
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
Number of Information Collection (IC) in this ICR:
14
IC Title
Form No.
Form Name
Recordkeeping FR Y-9C
FR Y-9C
Consolidated Financial Statements for Holding Companies
Recordkeeping FR Y-9CS
FR Y-9CS
Supplement to the Consolidated Financial Statements for Holding Companies
Recordkeeping FR Y-9ES
FR Y-9ES
Financial Statements for Employee Stock Ownership Plan Holding Companies
Recordkeeping FR Y-9LP
FR Y-9LP
Parent Company Only Financial Statements for Large Holding Companies
Recordkeeping FR Y-9SP
FR Y-9SP
Parent Company Only Financial Statements for Small Holding Companies
Reporting FR Y-9C (AA HCs)
FR Y-9C
Consolidated Financial Statements for Holding Companies
Reporting FR Y-9C (non AA HCs CBLR) with $5 billion or more in total assets
FR Y-9C
Consolidated Financial Statements for Holding Companies
Reporting FR Y-9C (non AA HCs CBLR) with less than $5 billion in total assets
FR Y-9C
Consolidated Financial Statements for Holding Companies
Reporting FR Y-9C (non AA HCs non CBLR) with $5 billion or more in total assets
FR Y-9C
Consolidated Financial Statements for Holding Companies
Reporting FR Y-9C (non AA HCs non CBLR) with less than $5 billion in total assets
FR Y-9C
Consolidated Financial Statements for Holding Companies
Reporting FR Y-9CS
FR Y-9CS
Supplement to the Consolidated Financial Statements for Holding Companies
Reporting FR Y-9ES
FR Y-9ES
Financial Statements for Employee Stock Ownership Plan Holding Companies
Reporting FR Y-9LP
FR Y-9LP
Parent Company Only Financial Statements for Large Holding Companies
Reporting FR Y-9SP
FR Y-9SP
Parent Company Only Financial Statements for Small Holding Companies
ICR Summary of Burden
Total Approved
Previously Approved
Change Due to New Statute
Change Due to Agency Discretion
Change Due to Adjustment in Estimate
Change Due to Potential Violation of the PRA
Annual Number of Responses
24,270
24,270
0
0
0
0
Annual Time Burden (Hours)
119,725
119,667
58
0
0
0
Annual Cost Burden (Dollars)
0
0
0
0
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:
The estimated total annual burden for the FR Y-9 is 119,667 hours, and would increase to 119,725 hours with the temporary revisions. The Board estimates that the revisions would increase the estimated average hours per response for FR Y-9C non AA HCs filers by 0.03 hours and FR Y-9C AA HCs filers by 0.21 hours.
Annual Cost to Federal Government:
$2,050,800
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]?
No
Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)?
No
Is this ICR related to the Pandemic Response?
Yes
Agency Contact:
Scott Farmer 202-452-2253 Scott.W.Farmer@frb.gov
Common Form ICR:
No
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(a) It is necessary for the proper performance of agency functions;
(b) It avoids unnecessary duplication;
(c) It reduces burden on small entities;
(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;
(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;
(f) It indicates the retention periods for recordkeeping requirements;
(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.
(i) It uses effective and efficient statistical survey methodology (if applicable); and
(j) It makes appropriate use of information technology.
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
Certification Date:
07/23/2020
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