The Federal Reserve Board today issued an interim final rule delaying certain filing deadlines for banks required to submit the FR Y-15, the Banking Organization Systemic Risk Report. (See chart below.) The change will harmonize this reporting requirement with the Fed’s complex liquidity reporting regime, FR 2052a — a step ABA had encouraged the board to take in a comment letter earlier this year.
Under the rule, banks with less than $700 billion in total consolidated assets and $10 trillion or less in assets under custody but total consolidated assets of $250 billion or more or foreign exposure of $10 billion or more will have until Dec. 31, 2017, to file the FR Y-15. Banks between $50 billion and $250 billion in total consolidated assets and less than $10 billion in on-balance-sheet foreign exposure will have until June 30, 2018, to file. The deadline is unchanged, however, for firms with more than $700 billion in consolidated assets or with $10 trillion or more in assets under custody. These banks must file the FR Y-15 by Dec. 31, 2016. For more information, contact ABA’s Alison Touhey.
