Fed Seeks Comments on Proposed Reporting Changes for BHCs

The Federal Reserve is seeking comments on a proposal to revise the FR-Y9 report that bank holding companies with more than $1 billion in assets are required to file. The proposed changes are nearly identical to those made to the Call Report and include the elimination of several data items and a more streamlined questions for reporting on complex or specialized activities.

While the regulatory agencies have made a number of changes to the Call Report in recent years in an effort to reduce the compliance burden on banks, the FR-Y9 report has not been adjusted accordingly. In previous comments, the American Bankers Association pointed out that not updating the holding company report has undermined the goal of a streamlined reporting process, and has instead created additional confusion and burden due to a lack of harmony between the forms. ABA has been working with the Fed to better align the two reports, and welcomed today’s proposed changes.


About Author

Monica C. Meinert

Monica C. Meinert is a senior editor at the ABA Banking Journal and VP for editorial strategy at the American Bankers Association, where she oversees ABA Daily Newsbytes.