[Federal Register Volume 81, Number 105 (Wednesday, June 1, 2016)]
[Notices]
[Pages 35016-35023]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-12867]


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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 or 
Federal Reserve) is adopting a proposal to revise, without extension, 
certain mandatory information collections to require intermediate 
holding companies of foreign banking organizations to (i) file 
regulatory reports applicable to bank holding companies and (ii) comply 
with the information collection requirements associated with regulatory 
capital requirements. The revisions to the mandatory information 
collections are effective July 1, 2016, which corresponds to the 
effective date of the requirements under Regulation YY. As applicable, 
an intermediate holding company must begin filing certain regulatory 
reports beginning with the reporting period ending on September 30, 
2016, and other reports beginning with the reporting period ending on 
December 31, 2016. An intermediate holding company must comply with the 
information collections associated with the regulatory capital rules 
beginning on the July 1, 2016, effective date.
    On June 15, 1984, the Office of Management and Budget (OMB) 
delegated to the Board authority under the Paperwork Reduction Act 
(PRA) to approve of and assign OMB control numbers to collection of 
information requests and requirements conducted or sponsored by the 
Board. In exercising this delegated authority, the Board is directed to 
take every reasonable step to solicit comment. In determining whether 
to approve a collection of

[[Page 35017]]

information, the Board will consider all comments received from the 
public and other agencies.

FOR FURTHER INFORMATION CONTACT: Federal Reserve Board Acting Clearance 
Officer--Nuha Elmaghrabi--Office of the Chief Data Officer, Board of 
Governors of the Federal Reserve System, Washington, DC 20551 (202) 
452-3829. Telecommunications Device for the Deaf (TDD) users may 
contact (202) 263-4869, Board of Governors of the Federal Reserve 
System, Washington, DC 20551.
    OMB Desk Officer--Shagufta Ahmed--Office of Information and 
Regulatory Affairs, Office of Management and Budget, New Executive 
Office Building, Room 10235, 725 17th Street NW., Washington, DC 20503.
    Final Approval Under OMB Delegated Authority of the Revision, 
Without Extension, of the Following Reports:
    1. Report Title: Financial Statements of Foreign Subsidiaries of 
U.S. Banking Organizations and the Abbreviated Financial Statements of 
Foreign Subsidiaries of U.S. Banking Organizations.
    Agency Form Number: FR 2314 and FR 2314S.
    OMB Control Number: 7100-0073.
    Frequency: Quarterly or annually, beginning with the reporting 
period ending on September 30, 2016.
    Reporters: U.S. state member banks, holding companies, Edge or 
agreement corporations, and U.S. intermediate holding companies (IHCs).
    Estimated Annual Reporting Hours: FR 2314 (quarterly): 18,427; FR 
2314 (annual): 2,640; FR 2314S: 480.
    Estimated Average Hours per Response: FR 2314 (quarterly): 6.6; FR 
2314 (annual): 6.6; FR 2314S: 1.
    Number of Respondents: FR 2314 (quarterly): 698; FR 2314 (annual): 
400; FR 2314S: 480.
    General Description of Report: This information collection is 
mandatory pursuant to 12 U.S.C. 324, 602, 625, 1844(c), 1467a(b), 
section 165 of the Dodd-Frank Act (12 U.S.C. 5365), and section 
252.153(b)(2) of Regulation YY (12 CFR 252.153(b)(2)). Overall, the 
Federal Reserve does not consider these data to be confidential. 
However, a respondent may request confidential treatment pursuant to 
sections (b)(4), (b)(6), and (b)(8) of the Freedom of Information Act 
(5 U.S.C. 552(b)(4), (b)(6), (b)(8)). The applicability of these 
exemptions would need to be determined on a case-by-case basis.
    Abstract: The FR 2314 reporting forms collect financial information 
for non-functionally regulated direct or indirect foreign subsidiaries 
of U.S. state member banks (SMBs), Edge and agreement corporations, and 
holding companies (i.e., bank holding companies, savings and loan 
holding companies, and securities holding companies). Parent 
organizations (SMBs, Edge and agreement corporations, or holding 
companies) file the FR 2314 on a quarterly or annual basis or the FR 
2314S annually based predominantly on asset size thresholds, and for 
the FR 2314S, based on an additional threshold related to the 
percentage of consolidated assets of the top-tier organization. The FR 
2314 data are used to identify current and potential problems at the 
foreign subsidiaries of U.S. parent companies, to monitor the 
activities of U.S. banking organizations in specific countries, and to 
develop a better understanding of activities within the industry, in 
general, and of individual institutions, in particular.
    2. Report Title: Risk Based Capital Standards: Advanced Capital 
Adequacy Framework.
    Agency Form Number: FR 4200.
    OMB Control Number: 7100-0313.
    Frequency: On occasion.
    Reporters: National banks, state member banks, Federal savings 
associations, U.S. intermediate holding companies (IHCs), and top-tier 
bank holding companies and savings and loan holding companies domiciled 
in the United States not subject to the Federal Reserve's Small Bank 
Holding Company Policy Statement (12 CFR part 225, appendix C)), except 
certain savings and loan holding companies that are substantially 
engaged in insurance underwriting or commercial activities.
    Estimated Annual Reporting Hours: Minimum capital ratios ongoing 
recordkeeping: 22,896 hours; standardized approach ongoing 
recordkeeping: 28,620 hours; standardized approach one-time 
recordkeeping: 174,582 hours; standardized approach ongoing disclosure: 
3,281 hours; standardized approach one-time disclosure: 5,656 hours; 
advanced approach ongoing recordkeeping: 2,482 hours; advanced approach 
one-time recordkeeping: 7,140 hours; advanced approach ongoing 
disclosure: 595 hours; advanced approach one-time disclosure: 4,760 
hours; disclosure table 13: 500 hours.
    Estimated Average Hours per Response: Minimum capital ratios 
ongoing recordkeeping: 16 hours; standardized approach ongoing 
recordkeeping: 20 hours; standardized approach one-time recordkeeping: 
122 hours; standardized approach ongoing disclosure: 131.25 hours; 
standardized approach one-time disclosure: 226.25 hours; advanced 
approach ongoing recordkeeping: 146 hours; advanced approach one-time 
recordkeeping: 420 hours; advanced approach ongoing disclosure: 35 
hours; advanced approach one-time disclosure: 280 hours; disclosure 
table 13: 5 hours.
    Number of Respondents: 1,431.
    General Description of Report: This information collection is 
mandatory pursuant to section 38(o) of the Federal Deposit Insurance 
Act, (12 U.S.C. 1831o(c)), section 908 of the International Lending 
Supervision Act of 1983 (12 U.S.C. 3907(a)(1)), the Federal Reserve 
Act, (12 U.S.C. 324), and section 5(c) of the Bank Holding Company Act 
(12 U.S.C. 1844(c)), and section 252.153(b)(2) of Regulation YY (12 CFR 
252.153(b)(2)). If a respondent considers the information to be trade 
secrets and/or privileged such information could be withheld from the 
public under the authority of the Freedom of Information Act, 5 U.S.C. 
552(b)(4). Additionally, to the extent that such information may be 
contained in an examination report such information maybe also be 
withheld from the public, 5 U.S.C. 552(b)(8).
    Abstract: The Risk Based Capital Standards: Advanced Capital 
Adequacy Framework Information Collection (FR 4200) collects 
information relating to the regulatory capital rule (12 CFR part 217). 
The regulatory capital rule includes a common equity tier1 minimum 
risk-based capital requirement, a minimum tier 1 risk-based capital 
requirement, a minimum total risk-based capital requirement, a minimum 
leverage ratio of tier 1 capital to average total consolidated assets, 
and, for banking organizations subject to the advanced approaches risk-
based capital rules, a supplementary leverage ratio that incorporates 
both on- and off-balance sheet exposures. The regulatory capital rule 
also limits a banking organization's capital distributions and certain 
discretionary bonus payments to the extent that the banking 
organization does not hold a specified ``buffer'' of common equity tier 
1 capital in addition to the minimum risk-based capital requirements. 
The FR 4200 information collection requires respondents to: (a) Obtain 
legal opinions for certain agreements and maintain sufficient written 
documentation of this legal review, (b) obtain prior written approvals 
for the use of certain measures or methodologies, (c) maintain 
policies, procedures, and programs; (d) perform due diligence, perform 
and document analyses, or make a demonstration to supervisors; (e)

[[Page 35018]]

develop plans for compliance and notify supervisors of certain changes; 
and (f) provide certain disclosures regarding their structure, 
regulatory capital, the risks to which they are subject, and other 
aspects of their operations. These obligations arise pursuant to 
sections _.3, _.22, _.35, _.37, _.41, _.42, _.62, _.63, _.121 through 
_.124, _.132, _.141, _.142, _.153, _.171, and _.173 of the regulatory 
capital rule (12 CFR part 217). Under most circumstances, IHCs would 
not be subject to the information collection requirements associated 
with sections _.62, _.63, _.121 through _.124, _.132, _.141, _.142, 
_.153, _.171, and _.173 of the regulatory capital rule.
    3. Report Title: Risk-Based Capital Guidelines: Market Risk.
    Agency Form Number: FR 4201.
    OMB Control Number: 7100-0314.
    Frequency: On occasion.
    Reporters: Banking organizations, including U.S. intermediate 
holding companies (IHCs), with aggregate trading assets and trading 
liabilities equal to (1) 10 percent or more of quarter-end total assets 
or (2) $1 billion or more.
    Estimated Annual Reporting Hours: Prior written approvals 
reporting: 34,560 hours; policies and procedures recordkeeping: 3,456 
hours; trading and hedging strategy recordkeeping: 576 hours; internal 
models recordkeeping: 4,608 hours; section 4(b) backtesting and stress 
testing: 2,304 hours; sections 5(c) and 9(c) backtesting and stress 
testing: 3,744 hours; securitizations backtesting and stress testing: 
17,280 hours; disclosure policy backtesting and stress testing: 1,440 
hours; quantitative disclosure: 2,304 hours; qualitative disclosure: 
432 hours.
    Estimated Average Hours per Response: Prior written approvals 
reporting: 960 hours; policies and procedures recordkeeping: 96 hours; 
trading and hedging strategy recordkeeping: 16 hours; internal models 
recordkeeping: 128 hours; section 4(b) backtesting and stress testing: 
16 hours; sections 5(c) and 9(c) backtesting and stress testing: 104 
hours; securitizations backtesting and stress testing: 120 hours; 
disclosure policy backtesting and stress testing: 40 hours; 
quantitative disclosure: 16 hours; qualitative disclosure: 12 hours.
    Number of Respondents: 36.
    General Description of Report: This information collection is 
mandatory pursuant to 12 U.S.C. 324 and 12 U.S.C. 1844(c), section 165 
of the Dodd-Frank Act (12 U.S.C. 5365), and section 252.153(b)(2) of 
Regulation YY (12 CFR 252.153(b)(2)). Information collected pursuant to 
the reporting requirements of the FR 4201 (specifically, information 
related to seeking regulatory approval for the use of certain 
incremental and comprehensive risk models and methodologies under 
sections 217.208 and 217.209) is exempt from disclosure pursuant to 
exemption (b)(8) of the Freedom of Information Act (FOIA) (5 U.S.C. 
552(b)(8)), and exemption (b)(4) of FOIA (5 U.S.C. 552(b)(4)). 
Exemption (b)(8) applies because the reported information is contained 
in or related to examination reports. Exemption (b)(4) applies because 
the information provided to obtain regulatory approval of the 
incremental or comprehensive risk models is confidential business 
information the release of which could cause substantial competitive 
harm to the reporting company. The recordkeeping requirements of the FR 
4201 require banking organizations to maintain documentation regarding 
certain policies and procedures, trading and hedging strategies, and 
internal models. These documents would remain on the premises of the 
banking organizations and accordingly would not generally be subject to 
a FOIA request. To the extent these documents are provided to the 
regulators, they would be exempt under exemption (b)(8), and may be 
exempt under exemption (b)(4). Exemption (b)(4) protects from 
disclosure ``trade secrets and commercial or financial information 
obtained from a person and privileged or confidential.'' The disclosure 
requirements of the FR 4201 do not raise any confidentiality issues 
because they require banking organizations to make certain disclosures 
public.
    Abstract: The market risk rule is an integral part of the Board's 
regulatory capital framework. The collection of information permits the 
Federal Reserve to monitor the market risk profile of banking 
organizations that it regulates and evaluate the impact and competitive 
implications of the market risk rule on those banking organizations and 
the industry as a whole. The collection of information provides the 
most current statistical data available to identify areas of market 
risk on which to focus for onsite and offsite examinations and allows 
the Federal Reserve to assess and monitor the levels and components of 
each reporting institution's risk-based capital requirements for market 
risk and the adequacy of the institution's capital under the market 
risk rule. Finally, the collection of information contained in the 
market risk rule is necessary to ensure capital adequacy of banking 
organizations according to their level of market risk and assists 
banking organizations in implementing and validating the market risk 
framework.
    4. Report Title: Financial Statements of U.S. Nonbank Subsidiaries 
Held by Foreign Banking Organizations, the Abbreviated Financial 
Statements of U.S. Nonbank Subsidiaries Held by Foreign Banking 
Organizations, and the Capital and Asset Report for Foreign Banking 
Organizations.
    Agency Form Number: FR Y-6; FR Y-7; FR Y-10; FR Y-10E.
    OMB Control Number: 7100-0297.
    Frequency: FR Y-6: Annually, beginning with the reporting period 
ending on December 31, 2016; FR Y-7: Annually, beginning with the 
reporting period ending on December 31, 2016; FR Y-10: Event-generated; 
FR Y-10E: Event-generated.
    Reporters: Bank holding companies (BHCs), U.S. intermediate holding 
companies (IHCs), and savings and loan holding companies (SLHCs) 
(collectively, holding companies), securities holding companies, 
foreign banking organizations (FBOs), state member banks unaffiliated 
with a BHC, Edge Act and agreement corporations, and nationally 
chartered banks that are not controlled by a BHC (with regard to their 
foreign investments only).
    Estimated Annual Reporting Hours: FR Y-6 initial: 130 hours; FR Y-6 
ongoing: 26,549 hours; FR Y-7: 972 hours; FR Y-10 initial: 530 hours; 
FR Y-10 ongoing: 39,735 hours; FR Y-10E: 2,649 hours.
    Estimated Average Hours per Response: FR Y-6 initial: 10 hours; FR 
Y-6 ongoing: 5.5 hours; FR Y-7: 4 hours; FR Y-10 initial: 1 hour; FR Y-
10 ongoing: 2.5 hours; FR Y-10E: 0.5 hours.
    Number of Respondents: FR Y-6 initial: 13; FR Y-6 ongoing: 4,827; 
FR Y-7: 243; FR Y-10 initial: 530; FR Y-10 ongoing: 5,298; FR Y-10E: 
5,298.
    General Description of Report: These information collections are 
mandatory as follows:
    FR Y-6: Section 5(c) of the BHC Act (12 U.S.C. 1844(c)); sections 
8(a) and 13(a) of the IBA (12 U.S.C. 3106 and 3108(a)); sections 
11(a)(1), 25, and 25A of the Federal Reserve Act (FRA) (12 U.S.C. 
248(a), 602, and 611a); and sections 113, 312, 618, and 809 of the 
Dodd-Frank Act (12 U.S.C. 5361, 5412, 1850a(c)(1), and 5468(b)(1)), 
section 165 of the Dodd-Frank Act (12 U.S.C. 5365), and section 
252.153(b)(2) of Regulation YY (12 CFR 252.153(b)(2)).
    FR Y-7: Sections 8(a) and 13(a) of the IBA (12 U.S.C. 3106(a) and 
3108(a)) and sections 113, 312, 618, and 809 of the Dodd-Frank Act (12 
U.S.C. 5361, 5412, 1850a(c)(1), and 5468(b)(1), respectively).

[[Page 35019]]

    FR Y-10 and FR Y-10E: Sections 4(k) and 5(c)(1)(A) of the BHC Act 
(12 U.S.C. 1843(k), 1844(c)(1)(A)), section 8(a) of the IBA (12 U.S.C. 
3106(a)), sections 11(a)(1), 25(7), and 25A of the Federal Reserve Act 
(12 U.S.C. 248(a)(1), 321, 601, 602, 611a, 615, and 625), and sections 
113, 312, 618, and 809 of the Dodd-Frank Act (12 U.S.C. 5361, 5412, 
1850a(c)(1), and 5468(b)(1), respectively).
    The data collected in the FR Y-6, FR Y-7, FR Y-10, and FR Y-10E are 
not considered confidential. With regard to information that a banking 
organization may deem confidential, the institution may request 
confidential treatment of such information under one or more of the 
exemptions in the Freedom of Information Act (FOIA) (5 U.S.C. 552). The 
most likely case for confidential treatment will be based on FOIA 
exemption 4, which permits an agency to exempt from disclosure ``trade 
secrets and commercial or financial information obtained from a person 
and privileged and confidential,'' (5 U.S.C. 552(b)(4)). To the extent 
an institution can establish the potential for substantial competitive 
harm, such information would be protected from disclosure under the 
standards set forth in National Parks & Conservation Association v. 
Morton, 498 F.2d 765 (D.C. Cir. 1974). Exemption 6 of FOIA might also 
apply with regard to the respondents' submission of non-public personal 
information of owners, shareholders, directors, officers and employees 
of respondents. Exemption 6 covers ``personnel and medical files and 
similar files the disclosure of which would constitute a clearly 
unwarranted invasion of personal privacy,'' (5 U.S.C. 552(b)(6)). All 
requests for confidential treatment would need to be reviewed on a 
case-by-case basis and in response to a specific request for 
disclosure.
    Abstract: The FR Y-6 is an annual information collection submitted 
by top-tier holding companies and non-qualifying FBOs. It collects 
financial data, an organization chart, verification of domestic branch 
data, and information about shareholders. The Federal Reserve uses the 
data to monitor holding company operations and determine holding 
company compliance with the provisions of the BHC Act, Regulation Y (12 
CFR part 225), the Home Owners' Loan Act (HOLA), and Regulation LL (12 
CFR part 238). The FR Y-7 is an annual information collection submitted 
by qualifying FBOs to update their financial and organizational 
information with the Federal Reserve. The FR Y-7 collects financial, 
organizational, and managerial information. The Federal Reserve uses 
information to assess an FBO's ability to be a continuing source of 
strength to its U.S. operations, and to determine compliance with U.S. 
laws and regulations. The FR Y-10 is an event-generated information 
collection submitted by FBOs; top-tier holding companies; security 
holding companies as authorized under Section 618 of the Dodd-Frank 
Wall Street Reform and Consumer Protection Act of 2010 (12 U.S.C. 
1850a(c)(1)); state member banks unaffiliated with a BHC; Edge Act and 
agreement corporations that are not controlled by a member bank, a 
domestic BHC, or a FBO; and nationally chartered banks that are not 
controlled by a BHC (with regard to their foreign investments only) to 
capture changes in their regulated investments and activities. The 
Federal Reserve uses the data to monitor structure information on 
subsidiaries and regulated investments of these entities engaged in 
banking and nonbanking activities. The FR Y-10E is a free-form 
supplement that may be used to collect additional structural 
information deemed to be critical and needed in an expedited manner.
    5. Report Title: Consolidated Financial Statements for Holding 
Companies, Parent Company Only Financial Statements for Large Holding 
Companies, Parent Company Only Financial Statements for Small Holding 
Companies, Financial Statements for Employee Stock Ownership Plan 
Holding Companies.\1\
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    \1\ The family of FR Y-9 reporting forms also contains the 
Parent Company Only Financial Statements for Small Holding Companies 
(FR Y-9SP), the Financial Statements for Employee Stock Ownership 
Plan Holding Companies (FR Y-9ES), and the Supplement to the 
Consolidated Financial Statements for Holding Companies (FR Y-9CS) 
which are not being revised.
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    Agency Form Number: FR Y-9C; FR Y-9LP; FR Y-9SP; FR Y-9ES; FR Y-9CS
    OMB Control Number: 7100-0128.
    Frequency: Quarterly, semi-annually, and annually, beginning with 
the reporting period ending on September 30, 2016.
    Reporters: Bank holding companies (BHCs), savings and loan holding 
companies (SLHCs), securities holding companies (SHCs), and U.S. 
intermediate holding companies (IHCs), (collectively, ``holding 
companies'').
    Estimated Annual Reporting Hours: FR Y-9C (non-Advanced Approaches 
HCs or other respondents): 131,777 hours; FR Y-9C (Advanced Approaches 
HCs or other respondents): 2,500 hours; FR Y-9LP: 17,262 hours; FR Y-
9SP: 47,412; FR Y-9ES: 43; FR Y-9CS: 472.
    Estimated Average Hours per Response: FR Y-9C (non-Advanced 
Approaches HCs or other respondents): 50.84 hours; FR Y-9C (Advanced 
Approaches HCs or other respondents): 52.09 hours; FR Y-9LP: 5.25 
hours; FR Y-9SP: 5.4 hours; FR Y-9ES: 0.5 hours; FR Y-9CS: 0.5 hours.
    Number of Respondents: FR Y-9C (non-Advanced Approaches HCs or 
other respondents): 648; FR Y-9C (Advanced Approaches HCs or other 
respondents): 12; FR Y-9LP: 822; FR Y-9SP: 4,390; FR Y-9ES: 86; FR Y-
9CS: 236.
    General Description of Report: This information collection is 
mandatory pursuant to section 5(c) of the BHC Act (12 U.S.C. 1844(c)), 
section 10 of Home Owners' Loan Act (HOLA) (12 U.S.C. 1467a(b)), 12 
U.S.C. 1850a(c)(1), section 165 of the Dodd-Frank Act (12 U.S.C. 5365), 
and section 252.153(b)(2) of Regulation YY (12 CFR 252.153(b)(2)). 
Confidential treatment is not routinely given to the financial data in 
this report. However, confidential treatment for the reporting 
information, in whole or in part, can be requested in accordance with 
the instructions to the form, pursuant to sections (b)(4), (b)(6), or 
(b)(8) of the Freedom of Information Act (FOIA) (5 U.S.C. 522(b)(4), 
(b)(6), and (b)(8)).
    Abstract: Pursuant to the Bank Holding Company Act of 1956, as 
amended, and HOLA, the Federal Reserve requires HCs to provide 
standardized financial statements to fulfill the Federal Reserve's 
statutory obligation to supervise these organizations. HCs file the FR 
Y-9C and FR Y-9LP quarterly, the FR Y-9SP semi-annually, and the FR Y-
9ES annually.
    6. Report Title: Financial Statements of U.S. Nonbank Subsidiaries 
of U.S. Holding Companies and the Abbreviated Financial Statements of 
U.S. Nonbank Subsidiaries of U.S. Holding Companies.
    Agency Form Number: FR Y-11 and FR Y-11S.
    OMB Control Number: 7100-0244.
    Frequency: Quarterly and annually, beginning with the reporting 
period ending on September 30, 2016.
    Reporters: Holding companies.
    Estimated Annual Reporting Hours: FR Y-11 (quarterly): 19,502; FR 
Y-11 (annual): 2,258; FR Y-11S: 473.
    Estimated Average Hours per Response: FR Y-11 (quarterly): 6.8; FR 
Y-11 (annual): 6.8; FR Y-11S: 1.
    Number of Respondents: FR Y-11 (quarterly): 717; FR Y-11 (annual): 
332; FR Y-11S: 473.
    General Description of Report: This information collection is 
mandatory pursuant to section 5(c) of the BHC Act (12 U.S.C. 1844(c)), 
section 10 of Home Owners' Loan Act (HOLA) (12 U.S.C.

[[Page 35020]]

1467a(b)), 12 U.S.C. 1850a(c)(1), section 165 of the Dodd-Frank Act (12 
U.S.C. 5365), and section 252.153(b)(2) of Regulation YY (12 CFR 
252.153(b)(2)). Overall, the Federal Reserve does not consider these 
data to be confidential. However, a respondent may request confidential 
treatment pursuant to sections (b)(4), (b)(6), and (b)(8) of the 
Freedom of Information Act (5 U.S.C. 552(b)(4), (b)(6), (b)(8)). The 
applicability of these exemptions would need to be determined on a 
case-by-case basis.
    Abstract: The FR Y-11 reporting forms collect financial information 
for individual non-functionally regulated U.S. nonbank subsidiaries of 
domestic holding companies (i.e., bank holding companies, savings and 
loan holding companies, and securities holding companies). Holding 
companies file the FR Y-11 on a quarterly or annual basis or the FR Y-
11S annually predominantly based on asset size thresholds, and for the 
FR Y-11S, based on an additional threshold related to the percentage of 
consolidated assets of the top-tier organization. The FR Y-11 data are 
used with other holding company data to assess the condition of holding 
companies that are heavily engaged in nonbanking activities and to 
monitor the volume, nature, and condition of their nonbanking 
operations.
    7. Report Title: Consolidated Bank Holding Company Report of Equity 
Investments in Nonfinancial Companies, and the Annual Report of 
Merchant Banking Investments Held for an Extended Period.
    Agency Form Number: FR Y-12 and FR Y-12A.
    OMB Control Number: 7100-0300.
    Frequency: Quarterly, semi-annually, and annually, beginning with 
the reporting period ending on September 30, 2016.
    Reporters: Bank holding companies (BHCs), financial holding 
companies (FHCs), U.S. intermediate holding companies (IHCs), and 
savings and loan holding companies (SLHCs).
    Estimated Annual Reporting Hours: FR Y-12 Initial (FR Y-9C filers): 
429 hours, FR Y-12 Ongoing (FR Y-9C filers): 2,442 hours, FR Y-12 
Ongoing (FR Y-9SP filers): 132 hours, FR Y-12A Initial: 182 hours, FR 
Y-12A Ongoing: 224 hours.
    Estimated Average Hours per Response: FR Y-12 Initial (FR Y-9C 
filers): 33 hours, FR Y-12 Ongoing (FR Y-9C filers): 16.5 hours, FR Y-
12 Ongoing (FR Y-9SP filers): 16.5 hours, FR Y-12A Initial: 14 hours, 
FR Y-12A Ongoing: 7 hours.
    Number of Respondents: FR Y-12 Initial (FR Y-9C filers): 13, FR Y-
12 Ongoing (FR Y-9C filers): 37, FR Y-12 Ongoing (FR Y-9SP filers): 4, 
FR Y-12A Initial: 13, FR Y-12A Ongoing: 32.
    General Description of Report: This collection of information is 
mandatory pursuant to section 5(c) of the BHC Act (12 U.S.C. 1844(c)), 
section 10 of HOLA (12 U.S.C. 1467a(b)), section 165 of the Dodd-Frank 
Act (12 U.S.C. 5365), and section 252.153(b)(2) of Regulation YY (12 
CFR 252.153(b)(2)). The FR Y-12 data are not considered confidential, 
however, a BHC or SLHC may request confidential treatment pursuant to 
Sections (b)(4) of the Freedom of Information Act (FOIA) (5 U.S.C. 
552(b)(4)). The FR Y-12A data are considered confidential pursuant to 
sections (b)(4) and (b)(8) of the Freedom of Information Act (5 U.S.C. 
552(b)(4) and (b)(8)).
    Abstract: The FR Y-12 collects information from certain domestic 
BHCs and SLHCs on their equity investments in nonfinancial companies on 
four schedules: Type of Investments, Type of Security, Type of Entity 
within the Banking Organization, and Nonfinancial Investment 
Transactions during Reporting Period. The FR Y-12A collects data from 
financial holding companies (FHCs) which hold merchant banking 
investments that are approaching the end of the holding period 
permissible under Regulation Y. These data serve as an important risk-
monitoring device for FHCs active in this business line by allowing 
supervisory staff to monitor an FHC's activity between review dates. 
They also serve as an early warning mechanism to identify FHCs whose 
activities in this area are growing rapidly and therefore warrant 
special supervisory attention.
    8. Report Title: Capital Assessments and Stress Testing information 
collection.
    Agency Form Number: FR Y-14A/Q/M.
    OMB Control Number: 7100-0341.
    Frequency: Annually, semi-annually, quarterly, and monthly, 
beginning with the reporting period ending on December 31, 2016
    Reporters: Any top-tier bank holding company (BHC), and U.S. 
intermediate holding companies (IHC), (other than an FBO), that has $50 
billion or more in total consolidated assets, as determined based on: 
(i) the average of the BHC's or IHC's total consolidated assets in the 
four most recent quarters as reported quarterly on the BHC's or IHC's 
Consolidated Financial Statements for Bank Holding Companies (FR Y-9C) 
(OMB No. 7100-0128); or (ii) the average of the BHC's or IHC's total 
consolidated assets in the most recent consecutive quarters as reported 
quarterly on the BHC's or IHC's FR Y-9Cs, if the BHC or IHC has not 
filed an FR Y-9C for each of the most recent four quarters. Reporting 
is required as of the first day of the quarter immediately following 
the quarter in which it meets this asset threshold, unless otherwise 
directed by the Federal Reserve.
    Estimated Annual Reporting Hours: FR Y-14A: Summary, 76,986 hours; 
Macro scenario, 2,418 hours; Operational Risk, 468 hours; Regulatory 
capital transitions, 897 hours; Regulatory capital instruments, 780 
hours; Retail repurchase, 390 hours; and Business plan changes, 1,560 
hours. FR Y-14Q: Securities risk, 2,028 hours; Retail risk, 2,496 
hours, Pre-provision net revenue (PPNR), 110,916 hours; Wholesale, 
23,712 hours; Trading, 46,224 hours; Regulatory capital transitions, 
3,588 hours; Regulatory capital instruments, 8,112 hours; Operational 
risk, 7,800 hours; Mortgage Servicing Rights (MSR) Valuation, 1,728 
hours; Supplemental, 624 hours; and Retail Fair Value Option/Held for 
Sale (Retail FVO/HFS), 1,792 hours; CCR, 12,192 hours; and Balances, 
2,496 hours. FR Y-14M: 1st lien mortgage, 228,660 hours; Home equity, 
197,760 hours; and Credit card, 153,000 hours. FR Y-14 On-going 
automation revisions, 18,720 hours; and implementation, 93,600 hours. 
FR Y-14 Attestation: Implementation, 43,200 hours; and on-going 
revisions, 23,040 hours.
    Estimated Average Hours per Response: FR Y-14A: Summary, 987 hours; 
Macro scenario, 31 hours; Operational Risk, 12 hours; Regulatory 
capital transitions, 23 hours; Regulatory capital instruments, 20 
hours; Retail repurchase, 20 hours; and Business plan changes, 10 
hours. FR Y-14Q: Securities risk, 13 hours; Retail risk, 16 hours; 
PPNR, 711 hours; Wholesale, 152 hours; Trading, 1,926 hours; Regulatory 
capital transitions, 23 hours; Regulatory capital instruments, 52 
hours; Operational risk, 50 hours; MSR Valuation, 24 hours; 
Supplemental, 4 hours; Retail FVO/HFS, 16 hours; CCR, 508 hours; and 
Balances, 16 hours. FR Y-14M: 1st lien mortgage, 515 hours; Home 
equity, 515 hours; and Credit card, 510 hours. FR Y-14 On-Going 
automation revisions, 480 hours; and implementation, 7,200 hours. FR Y-
14 Attestation: Implementation, 4,800 hours; and on-going revisions, 
2,560 hours.
    Number of Respondents: 39.
    General Description of Report: This collection of information is 
mandatory pursuant to section 5(c) of the BHC Act (12 U.S.C. 1844(c)), 
section 165 of the Dodd-Frank Act (12 U.S.C. 5365), and section 
252.153(b)(2) of Regulation YY (12 CFR 252.153(b)(2)).

[[Page 35021]]

    As these data are collected as part of the supervisory process, 
they are subject to confidential treatment under exemption 8 of the 
Freedom of Information Act (FOIA) (5 U.S.C. 552(b)(8)). In addition, 
commercial and financial information contained in these information 
collections may be exempt from disclosure under exemption 4 of FOIA (5 
U.S.C. 552(b)(4)), if disclosure would likely have the effect of (1) 
impairing the government's ability to obtain the necessary information 
in the future, or (2) causing substantial harm to the competitive 
position of the respondent. Such exemptions would be made on a case-by-
case basis.
    Abstract: The data collected through the FR Y-14A/Q/M schedules 
provide the Federal Reserve with the additional information and 
perspective needed to help ensure that large BHCs have strong, 
firm[hyphen]wide risk measurement and management processes supporting 
their internal assessments of capital adequacy and that their capital 
resources are sufficient given their business focus, activities, and 
resulting risk exposures. The annual Comprehensive Capital Analysis and 
Review (CCAR) exercise is also complemented by other Federal Reserve 
supervisory efforts aimed at enhancing the continued viability of large 
BHCs, including continuous monitoring of BHCs' planning and management 
of liquidity and funding resources and regular assessments of credit, 
market and operational risks, and associated risk management practices. 
Information gathered in this data collection is also used in the 
supervision and regulation of these financial institutions. In order to 
fully evaluate the data submissions, the Federal Reserve may conduct 
follow up discussions with or request responses to follow up questions 
from respondents, as needed.
    The Capital Assessments and Stress Testing information collection 
consists of the FR Y-14A, Q, and M reports. The semi-annual FR Y-14A 
collects information on the stress tests conducted by BHCs, including 
quantitative projections of balance sheet, income, losses, and capital 
across a range of macroeconomic scenarios, and qualitative information 
on methodologies used to develop internal projections of capital across 
scenarios.\2\ The quarterly FR Y-14Q and the monthly FR Y-14M are used 
to support supervisory stress test models and for continuous monitoring 
efforts. The quarterly FR Y-14Q collects granular data on BHCs' various 
asset classes, including loans, securities and trading assets, and PPNR 
for the reporting period. The monthly FR Y-14M comprises three retail 
loan- and portfolio-level collections, and one detailed address 
matching collection to supplement two of the portfolio and loan-level 
collections.
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    \2\ BHCs that must re-submit their capital plan generally also 
must provide a revised FR Y-14A in connection with their 
resubmission.
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    9. Report Title: Banking Organization System Risk Report.
    Agency Form Number: FR Y-15.
    OMB Control Number: 7100-0352.
    Frequency: Quarterly, beginning with the reporting period ending on 
September 30, 2016.
    Reporters: U.S. intermediate holding companies (IHCs) and BHCs with 
total consolidated assets of $50 billion or more, and any U.S.-based 
organizations identified as global systemically important banks (GSIBs) 
that do not otherwise meet the consolidated assets threshold for BHCs.
    Estimated Annual Reporting Hours: Initial: 4,000 hours; Ongoing: 
60,952 hours.
    Estimated Average Hours per Response: Initial: 1,000 hours; 
Ongoing: 401 hours.
    Number of respondents: 38.
    General Description of Report: This collection of information is 
mandatory pursuant to section 5(c) of the BHC Act (12 U.S.C. 1844(c)), 
section 10 of HOLA (12 U.S.C. 1467a(b), sections 8(a) and 13(a) of the 
International Banking Act (IBA) (12 U.S.C. 3106 and 3108(a)), sections 
163 and 165 of the Dodd-Frank Act (12 U.S.C. 5363, 5365), section 604 
of the Dodd-Frank Act, which amended section 5(c) of the BHC Act (12 
U.S.C. 1844(c)), and section 252.153(b)(2) of Regulation YY (12 CFR 
252.153(b)(2)). Except for those items subject to a delayed release, 
the individual data items collected on the FR Y-15 will be made 
available to the public for report dates beginning December 31, 2013. 
Though confidential treatment will not be routinely given to the 
financial data collected on the FR Y-15, respondents may request such 
treatment for any information that they believe is subject to an 
exemption from disclosure pursuant to sections (b)(4), (b)(6), or 
(b)(8) of FOIA (5 U.S.C. 522(b)(4), (b)(6), and (b)(8)).
    Abstract: The FR Y-15 annual report collects systemic risk data 
from U.S. BHCs with total consolidated assets of $50 billion or more, 
and any U.S.-based organizations identified as GSIBs that do not 
otherwise meet the consolidated assets threshold for BHCs. The Federal 
Reserve uses the FR Y-15 data primarily to monitor, on an ongoing 
basis, the systemic risk profile of the institutions that are subject 
to enhanced prudential standards under section 165 of the Dodd-Frank 
Wall Street Reform and Consumer Protection Act (DFA).
    Current Actions: On February 5, 2016, the Federal Reserve published 
a notice in the Federal Register \3\ requesting public comment for 60 
days on the proposal to revise, without extension, certain mandatory 
information collections to require intermediate holding companies 
(IHCs) of foreign banking organizations (FBOs) to file the regulatory 
reports and comply with the information collection requirements listed 
above.\4\ Under the proposal, an IHC would have been required to file 
its first regulatory reports beginning with the reporting period ending 
on September 30, 2016, as applicable. The comment period for this 
notice expired on April 5, 2016.
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    \3\ 81 FR 6265 (February 5, 2016).
    \4\ The proposal had also proposed to expand the respondent 
panel for the Recordkeeping and Reporting Requirements Associated 
with Regulation Y (Capital Plans) (Reg Y-13). However, IHCs were 
added to the reporting panel for Reg Y-13 in October 2014. See 79 FR 
64026, 64039 (October 27, 2014).
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    The Board received one joint comment letter on the proposal. The 
commenters generally supported the proposal, but provided views on the 
FR Y-14 series of reports relating to the collection of financial data 
for quarters prior to the formation of the IHC and the proposed timing 
of any future attestation requirement, the FR Y-15 report related to 
timing, and the FR 4200 and FR 4201 requirements regarding the purpose 
and presentation of the information collections. The commenters also 
requested clarity on specific items on the reports.
    As discussed below, the Federal Reserve will consider requests 
relating to the requirement for an IHC to report financial data for 
previous years on the FR Y-14 series of reports on a case-by-case 
basis. In addition, the Board will consider the commenters' views on 
any future proposal to apply the attestation requirement to IHCs. The 
Board is also extending the filing date for the first FR Y-15 filing 
and clarifying that the FR 4200 and FR 4201 requirements relate to the 
recordkeeping and reporting requirements of the regulatory capital 
rules, and do not relate to a separate reporting form.

1. Comments on the FR Y-14 Series of Reports

    The FR Y-14 series of reports enables the Federal Reserve to assess 
the capital adequacy of firms using forward-looking projections of 
revenue and losses and supports supervisory stress test models and 
continuous monitoring efforts. In

[[Page 35022]]

the proposal, an IHC would have been required to complete the FR Y-14 
series of reports in the same manner as a BHC and would have been 
subject to requirements to report financial data for previous years 
with respect to its U.S. bank and nonbank operations. However, the 
preamble to the proposal noted that many IHCs would have difficulty 
reporting these historical data for periods prior to the formation of 
the IHC and invited comment specifically on the ability of IHCs to 
report these historical data.

a. Historical PPNR Data

    The commenters provided views on the requirement to report pre-
provision net revenue (PPNR) data for previous years, and recommended 
that the submission of any historical IHC-specific data be on a best 
estimates basis with a look-back period limited to the prior seven 
quarters, rather than to the first quarter of 2009 as proposed. 
Additionally, the commenters suggested that IHCs not be required to 
submit any industry market size information for previous years.
    In order to develop credible estimates of a firm's PPNR, the 
Federal Reserve and the firm itself must have several years of data in 
order to understand the firm's businesses in various macroeconomic 
environments. Therefore, the Board is adopting the requirement for IHC 
respondents to report PPNR information from 2009 to the present on the 
FR Y-14Q report as outlined in the instructions. However, in 
recognition of the challenges in providing these data, the Federal 
Reserve will consider requests to modify the requirements for an IHC to 
report financial data for previous years or extend the time period by 
which an IHC must report these historical data on the FR Y-14 series of 
reports, including the inclusion of best estimates for data prior to 
2015, on a case-by-case basis. Requests should include a description of 
any data gaps or deficiencies, an overview of the approach to address 
the issues, and the timeframe for completion. To ensure proper routing 
of requests for extension or plans for remediation for these specific 
data, these requests should be submitted to the firm's designated 
Federal Reserve contact.
    In regards to the comment that IHCs should not be required to 
submit industry market size information for previous years, the Board 
is not adopting this proposed change for IHCs.

b. Attestation Requirement

    The commenters also noted that the proposal was silent on how the 
attestation requirement, which applies to U.S. bank holding companies 
subject to the Large Institution Supervision Coordinating Committee 
(LISCC) framework, would apply to IHC subsidiaries of FBOs subject to 
the LISCC framework. The commenters asked for guidance on the 
application of the attestation requirement to these IHCs and offered 
suggestions on transition periods.
    The Board has not proposed to apply the attestation requirement to 
these IHCs; however, the Board will consider the commenters' views on 
any future proposal.

2. Comments on the FR Y-15 Report

    The FR Y-15 report collects consolidated systemic risk data from 
large banking organizations. In the proposal, an IHC would have been 
required to complete the FR Y-15 report in the same manner as a BHC, 
effective September 30, 2016. The commenters requested that all IHCs be 
allowed 65 days following September 30, 2016, for the initial filing, 
and to file on a reasonable estimates basis. The commenters noted that 
the resources and personnel involved in the formation of the IHC are 
substantially the same as those personnel involved in implementing the 
FR Y-15 report, and also noted that the Board recently revised the 
frequency of the FR Y-15 report from an annual to a quarterly report.
    In response to the commenters, the Board is permitting all IHCs 
(including an existing BHC designated as an IHC) to file their first FR 
Y-15 report by December 5, 2016 (65 days after the September 30, 2016 
as-of date). This additional time will enable foreign banking 
organizations to efficiently allocate resources and facilitate the 
accurate reporting of data on the FR Y-15 report. To the extent that 
the IHC had not previously filed the FR Y-15 report (i.e., was not an 
existing BHC designated as an IHC), the Board is permitting 
institutions to file reasonable estimates, consistent with the FR Y-15 
report instructions. Except where otherwise noted in those 
instructions, reported data will be made available to the public.

3. Comments on the FR 4200 and FR 4201 Requirements

    The commenters requested additional information on the purpose and 
presentation of the FR 4200 and FR 4201 information collection 
requirements. The FR 4200 and FR 4201 requirements are the information 
collections that are embedded within the regulatory capital 
requirements, and do not impose reporting, recordkeeping, or disclosure 
requirements beyond those already applicable to IHCs under Regulation 
YY. These information collections are categorized separately from 
Regulation YY to facilitate compliance with the Paperwork Reduction Act 
and its implementing regulations, which require the Board to ensure 
that approved collections of information are reviewed not less 
frequently than once every three years.\5\ Specifically, the FR 4200 
requirement reflects the reporting, recordkeeping and disclosure 
requirements applicable to advanced approaches banking organizations, 
and the FR 4201 requirement reflects the reporting, recordkeeping, and 
disclosure requirements of the market risk rule.
---------------------------------------------------------------------------

    \5\ 44 U.S.C. 3501; 12 CFR 1320.10, appendix A.1(a)(3)(iii).
---------------------------------------------------------------------------

    Given that the FR 4201 and FR 4200 requirements do not impose new 
requirements on these institutions in addition to the requirements 
applicable under Regulation YY, the Board is adopting these information 
collection requirements as proposed.

4. Requests for Clarification

    The commenters also requested guidance on how IHCs should report 
formation of the IHC for purposes of the FR Y-9C and FR Y-11 reports. 
Specifically, the commenters asked whether the issuance of the stock 
should be treated as a ``sale'' on Schedule HI-A, Changes in Holding 
Company Equity Capital, and how the firm should report net income for 
the first six months of the year for a U.S. entity that will become 
part of the IHC on July 1, 2016. In addition, the commenters asked for 
guidance on how to report equity capital and changes in equity capital 
for purposes of the FR Y-11 report.
    Each IHC's reporting of these items will depend on the structure of 
the FBO parent's U.S. operations prior to the effective date of the IHC 
requirement. For example, an FBO with an existing BHC that it 
designates as the IHC should reflect any issuance of the stock to be 
treated as a sale for purposes of the FR Y-9C report. However, an FBO 
that creates a new IHC above an existing BHC should treat the creation 
of the U.S. top-tier holding company as a reorganization for purposes 
of line item 6a on Schedule HI-A of the FR Y-9C report, and an IHC 
without an insured depository institution should treat the item as 
though it were a de novo filer. With respect to line item 1 of Schedule 
IS-A of the FR Y-11 report, the IHC should carry forward the entry from 
the

[[Page 35023]]

line item reported for the end of the previous calendar year on the FR 
Y-7N report, Schedule IS-A, including, for example, adjustments from 
amended income statements.
    In addition, commenters requested that the Board advise on the 
current status of the FFIEC 009, FFIEC 009a, FFIEC 102, and the FR Y-10 
reports. The FFIEC 009, FFIEC 009a reports are currently out for 
comment with a period ending on June 13, 2016. The FFIEC Task Force on 
Reports intends to seek notice and comment to add IHCs to the reporting 
panels for the FFIEC 102 report. Board staff does not intend to modify 
the reporting panel for the FR Y-10 report, however, a proposal is 
currently out for public comment that would add items to the FR Y-10 
form and instructions to identify IHCs.

    Board of Governors of the Federal Reserve System, May 26, 2016.
Robert deV. Frierson,
Secretary of the Board.
[FR Doc. 2016-12867 Filed 5-31-16; 8:45 am]
 BILLING CODE 6210-01-P