The FR Y-9 family of reports
historically has been, and continues to be, the primary source of
financial information on BHCs between on-site inspections.
Financial information from these reports is used to detect emerging
financial problems, to review performance and conduct
pre-inspection analysis, to monitor and evaluate capital adequacy,
to evaluate BHC mergers and acquisitions, and to analyze a BHC's
overall financial condition to ensure safe and sound
operations.
US Code:
12
USC 1844(c) Name of Law: Bank Holding Company Act
The Federal Reserve proposes to
modify information collected on the FR Y-9C to: report interest and
fee income on and the quarterly average for 1-4 family residential
mortgages and income on and the quarterly average for all other
real estate loans separately from income on and the quarterly
average for all other loans; add new data items for restructured
troubled mortgages and mortgage loans in process of foreclosure;
expand the schedule for closed-end 1-4 family residential mortgage
banking activity to include originations, purchases, and sales of
open-end mortgages as well as closed-end and open-end mortgage loan
repurchases and indemnifications during the quarter; modify the
trading account definition and enhance information available on
instruments accounted for under the fair value option on the loan
schedule and the fair value measurements schedule; revise the
schedule on trading assets and liabilities; clarify the
instructions for reporting credit derivative data in the risk-based
capital schedule and make a corresponding change to the schedule
itself; modify the threshold for reporting significant items of
other noninterest income and expense in the income statement; and
revise the instructions for reporting fully insured brokered
deposits in the deposit liabilities schedule to conform to the
instructions for reporting time deposits in this schedule. The
proposed changes would be effective as of March 31, 2008. The
Federal Reserve proposes to modify the FR Y-9LP to: collect certain
data from all institutions that choose, under generally accepted
accounting principles (GAAP), to apply a fair value option to one
or more financial instruments and one or more classes of servicing
assets and liabilities; add two data items on cash flows related to
business acquisitions and divestitures; and combine two cash flow
statement items into a single net item. The proposed changes would
be effective as of March 31, 2008. The Federal Reserve proposes to
modify the FR Y-9SP to also collect certain data from all
institutions that choose, under GAAP, to apply a fair value option
to one or more financial instruments and one or more classes of
servicing assets and liabilities. The proposed changes would be
effective as of June 30, 2008. The total current annual burden for
the FR Y-9 family of reports is estimated to be 221,013 hours and
is estimated to increase by 12,288 hours with the proposed
revisions.
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:
(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;
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.
Form FR-Y9CS Supplement to the Consolidated Financial Statements for Bank Holding Companies
FRY9.200802.omb.doc
Supplement to the Consolidated Financial Statements for Bank Holding Companies