Initial Federal Register Notice - September 2012

Federal Register / Vol. 77, No. 130 / Friday, July 6, 2012 / Notices
List of Subjects
Environmental protection, Pesticides
and pests.
Dated: June 18, 2012.
Richard P. Keigwin, Jr.,
Director, Pesticide Re-evaluation Division,
Office of Pesticide Programs.
[FR Doc. 2012–16328 Filed 7–5–12; 8:45 am]
BILLING CODE 6560–50–P

Financial Institutions Reform, Recovery,
and Enforcement Act of 1989, as
amended, notice is hereby given that the
Appraisal Subcommittee (ASC) will
meet in closed session:
Location: OCC—250 E Street SW.,
Room 8C, Washington, DC 20219.
Date: July 11, 2012.
Time: Immediately following the ASC
open session.
Status: Closed.
Matters To Be Considered

FEDERAL ELECTION COMMISSION
Sunshine Act Meeting
Federal Election Commission.
Tuesday July 10, 2012 at
10:00 a.m.
PLACE: 999 E Street NW., Washington,
DC.
STATUS: This Meeting Will Be Closed to
the Public.
ITEMS TO BE DISCUSSED:
Compliance matters pursuant to 2
U.S.C. 437g.
Audits conducted pursuant to 2
U.S.C. 437g, 438(b), and Title 26, U.S.C.
Matters concerning participation in
civil actions or proceedings or
arbitration.
Internal personnel rules and
procedures or matters affecting a
particular employee.
Investigatory records compiled for
law enforcement purposes, or
information which if written would be
contained in such records.
Information the premature disclosure
of which would be likely to have a
considerable adverse effect on the
implementation of a proposed
Commission action.
*
*
*
*
*
PERSON TO CONTACT FOR INFORMATION:
Judith Ingram, Press Officer, Telephone:
(202) 694–1220.
AGENCY:

DATE AND TIME:

Shelley E. Garr,
Deputy Secretary of the Commission.
[FR Doc. 2012–16650 Filed 7–3–12; 11:15 am]

June 13, 2012 minutes—Closed
Session.
Preliminary discussion of State
Compliance Reviews.
Dated: July 2, 2012.
James R. Park,
Executive Director.
[FR Doc. 2012–16560 Filed 7–5–12; 8:45 am]
BILLING CODE P

FEDERAL FINANCIAL INSTITUTIONS
EXAMINATION COUNCIL
[Docket No. AS12–12]

Appraisal Subcommittee; Notice of
Meeting
Appraisal Subcommittee of the
Federal Financial Institutions
Examination Council.
ACTION: Notice of Meeting.
Description: In accordance with
Section 1104(b) of Title XI of the
Financial Institutions Reform, Recovery,
and Enforcement Act of 1989, as
amended, notice is hereby given that the
Appraisal Subcommittee (ASC) will
meet in open session for its regular
meeting:
Location: OCC—250 E Street SW.,
Room 8C, Washington, DC 20219.
Date: July 11, 2012.
Time: 10:30 a.m.
Status: Open.
Summary Agenda

FEDERAL FINANCIAL INSTITUTIONS
EXAMINATION COUNCIL

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[Docket No. AS12–13]

Appraisal Subcommittee; Notice of
Meeting
Appraisal Subcommittee of the
Federal Financial Institutions
Examination Council.
ACTION: Notice of Meeting.
AGENCY:

Description: In accordance with
Section 1104(b) of Title XI of the

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How To Attend and Observe an ASC
Meeting
Email your name, organization and
contact information to meetings@asc.
gov. You may also send a written
request via U.S. Mail, fax or commercial
carrier to the Executive Director of the
ASC, 1401 H Street NW., Ste. 760,
Washington, DC 20005. The fax number
is 202–289–4101. Your request must be
received no later than 4:30 p.m., ET, on
the Monday prior to the meeting.
Attendees must have a valid
government-issued photo ID and must
agree to submit to reasonable security
measures. The meeting space is
intended to accommodate public
attendees. However, if the space will not
accommodate all requests, the ASC may
refuse attendance on that reasonable
basis. The use of any video or audio
tape recording device, photographing
device, or any other electronic or
mechanical device designed for similar
purposes is prohibited at ASC meetings.
Dated: July 2, 2012.
James R. Park,
Executive Director.
[FR Doc. 2012–16563 Filed 7–5–12; 8:45 am]
BILLING CODE P

AGENCY:

Matters To Be Considered

BILLING CODE 6715–01–P

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June 13, 2012 minutes—Open
Session.
(No substantive discussion of the above
items is anticipated. These matters will
be resolved with a single vote unless a
member of the ASC requests that an
item be moved to the discussion
agenda.)
Discussion Agenda
Appraisal Foundation March 2012
Grant Reimbursement Request.
ASC Appraisal Foundation Grant
Policy.

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FEDERAL RESERVE SYSTEM
Proposed Agency Information
Collection Activities; Comment
Request
Board of Governors of the
Federal Reserve System.
SUMMARY: On June 15, 1984, the Office
of Management and Budget (OMB)
delegated to the Board of Governors of
the Federal Reserve System (Board) its
approval authority under the Paperwork
Reduction Act (PRA), pursuant to 5 CFR
1320.16, to approve of and assign OMB
control numbers to collection of
information requests and requirements
conducted or sponsored by the Board
under conditions set forth in 5 CFR
1320 Appendix A.1. Board-approved
collections of information are
incorporated into the official OMB
inventory of currently approved
collections of information. Copies of the
Paperwork Reduction Act Submission,
supporting statements and approved
collection of information instruments
are placed into OMB’s public docket
files. The Federal Reserve may not
conduct or sponsor, and the respondent
is not required to respond to, an
information collection that has been
extended, revised, or implemented on or
after October 1, 1995, unless it displays
a currently valid OMB control number.
AGENCY:

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Federal Register / Vol. 77, No. 130 / Friday, July 6, 2012 / Notices

Comments must be submitted on
or before September 4, 2012.
ADDRESSES: You may submit comments,
identified by FR Y–14A/Q/M, by any of
the following methods:
• Agency Web Site: http://
www.federalreserve.gov. Follow the
instructions for submitting comments at
http://www.federalreserve.gov/
generalinfo/foia/ProposedRegs.cfm.
• Federal eRulemaking Portal: http://
www.regulations.gov. Follow the
instructions for submitting comments.
• Email:
[email protected].
Include OMB number in the subject line
of the message.
• FAX: 202/452–3819 or 202/452–
3102.
• Mail: Jennifer J. Johnson, Secretary,
Board of Governors of the Federal
Reserve System, 20th Street and
Constitution Avenue NW., Washington,
DC 20551.
All public comments are available
from the Board’s Web site at
www.federalreserve.gov/generalinfo/
foia/ProposedRegs.cfm as submitted,
unless modified for technical reasons.
Accordingly, your comments will not be
edited to remove any identifying or
contact information. Public comments
may also be viewed electronically or in
paper form in Room MP–500 of the
Board’s Martin Building (20th and C
Streets NW.) between 9:00 a.m. and
5:00 p.m. on weekdays.
Additionally, commenters may send a
copy of their comments to the 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 or by fax to 202–395–6974.
FOR FURTHER INFORMATION CONTACT: A
copy of the PRA OMB submission,
including the proposed reporting form
and instructions, supporting statement,
and other documentation will be placed
into OMB’s public docket files, once
approved. These documents will also be
made available on the Federal Reserve
Board’s public Web site at: http://
www.federalreserve.gov/boarddocs/
reportforms/review.cfm or may be
requested from the agency clearance
officer, whose name appears below.
Federal Reserve Board Clearance
Officer—Cynthia Ayouch—Division of
Research and Statistics, 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.

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DATES:

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SUPPLEMENTARY INFORMATION:

Request for Comment on Information
Collection Proposal
The following information collection,
which is being handled under this
delegated authority, has received initial
Board approval and is hereby published
for comment. At the end of the comment
period, the proposed information
collection, along with an analysis of
comments and recommendations
received, will be submitted to the Board
for final approval under OMB delegated
authority. Comments are invited on the
following:
a. Whether the proposed collection of
information is necessary for the proper
performance of the Federal Reserve’s
functions; including whether the
information has practical utility;
b. The accuracy of the Federal
Reserve’s estimate of the burden of the
proposed information collection,
including the validity of the
methodology and assumptions used;
c. Ways to enhance the quality,
utility, and clarity of the information to
be collected;
d. Ways to minimize the burden of
information collection on respondents,
including through the use of automated
collection techniques or other forms of
information technology; and
e. Estimates of capital or start up costs
and costs of operation, maintenance,
and purchase of services to provide
information.
Proposal To Approve Under OMB
Delegated Authority the Extension,
With Revision of the Following Report
Report title: Capital Assessments and
Stress Testing information collection.
Agency form number:
FR Y–14A/Q/M.
OMB control number: 7100–0341.
Frequency: Annually, Quarterly, and
Monthly.
Reporters: Large banking
organizations that meet an annual
threshold of $50 billion or more in total
consolidated assets (large Bank Holding
Companies or large BHCs), as defined by
the Capital Plan rule (12 CFR 225.8).1
Estimated annual reporting hours:
FR Y–14A: Summary, 25,080 hours;
Macro scenario, 930 hours;
Counterparty credit risk (CCR), 2,292
hours; Basel III/Dodd-Frank, 600 hours;
and Regulatory capital, 600 hours. FR
Y–14 Q: Securities risk, 1,200 hours;
Retail risk, 1,920 hours; Pre-provision
net revenue (PPNR), 75,000 hours;
1 The Capital Plan rule applies to every top-tier
large BHC. This asset threshold is consistent with
the threshold established by section 165 of the
Dodd-Frank Act relating to enhanced supervision
and prudential standards for certain BHCs.

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Wholesale corporate loans, 6,720 hours;
Wholesale commercial real estate (CRE)
loans, 6,480 hours; Trading risk, 41,280
hours; Basel III/Dodd-Frank, 1,800
hours; Regulatory capital, 3,600 hours;
and Operational risk, 3,360 hours; and
Mortgage Servicing Rights (MSR)
Valuation, 864 hours; Supplemental,
960 hours; and Retail Fair Value
Option/Held for Sale (Retail FVO/HFS),
1,216 hours. FR Y–14M: Retail 1st lien
mortgage, 129,000 hours; Retail home
equity, 123,840 hours; and Retail credit
card, 77,400 hours. FR Y–14
Implementation and On-Going
Automation: Start-up for new
respondents, 79,200 hours; and Ongoing revisions for existing respondents,
9,120 hours.
Estimated average hours per response:
FR Y–14A: Summary, 836 hours; Macro
scenario, 31 hours; CCR, 382 hours;
Basel III/Dodd-Frank, 20 hours; and
Regulatory capital, 20 hours. FR Y–14Q:
Securities risk, 10 hours; Retail risk, 16
hours; PPNR, 625 hours; Wholesale
corporate loans, 60 hours; Wholesale
CRE loans, 60 hours; Trading risk, 1,720
hours; Basel III/Dodd-Frank, 20 hours;
Regulatory capital, 40 hours;
Operational risk, 28 hours, MSR
Valuation, 24 hours; Supplemental, 8
hours; and Retail FVO/HFS, 16 hours.
FR Y–14M: Retail 1st lien mortgage, 430
hours; Retail home equity, 430 hours;
and Retail credit card, 430 hours.
FR Y–14 Implementation and On-Going
Automation: Start-up for new
respondents, 7,200 hours; and On-going
revisions for existing respondents, 480
hours.
Number of respondents: 30.
General description of report: The
FR Y–14 series of reports are authorized
by section 165 of the Dodd-Frank Wall
Street Reform and Consumer Protection
Act of 2010 (Dodd-Frank Act), which
requires the Federal Reserve to ensure
that certain BHCs and nonbank financial
companies supervised by the Federal
Reserve are subject to enhanced riskbased and leverage standards in order to
mitigate risks to the financial stability of
the United States (12 U.S.C. 5365).
Additionally, section 5 of the BHC Act
authorizes the Board to issue regulations
and conduct information collections
with regard to the supervision of BHCs
(12 U.S.C. 1844).
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 FOIA exemption

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4 (5 U.S.C. 552(b)(4)). Such exemptions
would be made on a case-by-case basis.
Abstract: The data collected through
the FR Y–14A/Q/M provides the Federal
Reserve with the additional information
and perspective needed to help ensure
that large BHCs have strong, firm-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) is also
complemented by other Federal Reserve
supervisory efforts aimed at enhancing
the continued viability of large BHCs,
including (1) continuous monitoring of
BHCs’ planning and management of
liquidity and funding resources, and (2)
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. Respondent
BHCs are required to complete and
submit up to 17 filings each year: one
annual FR Y–14A filing, four quarterly
FR Y–14Q filings, and 12 monthly FR
Y–14M filings. Compliance with these
information collections is mandatory.
The annual FR Y–14A collects large
BHCs’ 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 collects
granular data on BHCs’ various asset
classes and PPNR for the reporting
period, which are used to support
supervisory stress test models and for
continuous monitoring efforts.3 The
monthly FR Y–14M comprises three
loan- and portfolio-level collections,
and one detailed address matching
collection to supplement the two loanlevel collections.
Under section 165 of the Dodd-Frank
Act, the Federal Reserve is required to
issue regulations relating to stress
testing (DFAST) for certain BHCs and
2 BHCs that must re-submit their capital plan
generally also must provide a revised FR Y–14A in
connection with their resubmission.
3 BHCs are required to submit both quarterly and
annual schedules for third quarter data, with the
exception of the Basel III/Dodd-Frank and
Regulatory Capital Instruments schedules. For these
schedules, only data for the annual schedules are
submitted for third quarter data.

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nonbank financial companies
supervised by the Board. On January 5,
2012, the Board published rulemakings
(77 FR 594) which would include new
reporting requirements found in 12 CFR
252.134(a), 252.146(a), and 252.146(b)
related to stress testing. The Federal
Reserve anticipates that these new
reporting requirements and the PRA
burden associated with these
requirements would be addressed in
detail in a future FR Y–14 proposal.4
Current actions: The Federal Reserve
proposes revising various annual and
quarterly FR Y–14 schedules and
several general revisions to the entire
collection, effective September 30, 2012.
The revisions would include: (1)
Implementing three new quarterly
reporting schedules, (2) revising the
respondent panel, (3) enhancing data
items previously collected, (4) deleting
data items that are no longer needed, (5)
adding attestation requirements, and (6)
collecting contact information. The
Federal Reserve proposes the revisions
based on experience gained from
previous capital review and stress
testing efforts. The revisions would
provide the Federal Reserve with new
information to refine its analysis, while
removing data items that are no longer
deemed necessary for such analysis. A
summary of the proposed revisions is
provided below.
The proposed revisions to the
FR Y–14A (annual collection) include:
(1) Revising 10 of the worksheets to the
Summary schedule and combining the
Retail Balance Projections and Retail
Loss Projections worksheets; (2) adding
two new worksheets and refining the
Planned Action worksheet for the Basel
III/Dodd-Frank schedule and making
definitional and calculation revisions
consistent with the final Market Risk
Capital rulemaking; 5 (3) streamlining
4 The proposed rules would implement the
enhanced prudential standards required to be
established under section 165 of the Dodd-Frank
Act and the early remediation framework
established under section 166 of the Act. The
enhanced standards include risk-based capital and
leverage requirements, liquidity standards,
requirements for overall risk management, singlecounterparty credit limits, DFAST requirements,
and debt-to-equity limits for companies that the
Financial Stability Oversight Council has
determined pose a grave threat to financial stability.
The 2011 proposal implementing the FR Y–14A and
Q acknowledged the impending publication of the
DFAST reporting requirements under section 165 of
the Dodd-Frank Act. That proposal included a
statement noting that revisions to the quarterly and
annual data collections, based on the enhanced
standards rulemaking, would be incorporated into
the FR Y–14A and Q information collection.
5 On June 12, 2012, the Federal Reserve Board,
Office of the Comptroller of the Currency (OCC),
and the Federal Deposit Insurance Corporation
(FDIC) published a joint press release announcing
the finalization of the Market Risk Capital

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the Regulatory Capital Instruments
schedule and adding CUSIP-level 6 data;
and (4) revising the CCR schedule to
collect additional data.
The proposed revisions to the
FR Y–14Q (quarterly collection)
include: (1) Implementing a new MSR
Valuation schedule; (2) implementing a
new Supplemental schedule; (3)
implementing a new Retail FVO/HFS
schedule; (4) revising the Retail Risk
schedule to remove data items no longer
needed and add risk characteristics to
existing collections; (5) revising various
worksheets and adding a new worksheet
in the Trading Risk schedule; (6)
revising the PPNR schedule; (7) adding
new worksheets and data items to the
Basel III/Dodd-Frank schedule and
making definitional and calculation
revisions consistent with the final
Market Risk Capital rulemaking; and (8)
incorporating minor revisions and other
clarifications to Securities and
Regulatory Capital Instruments
schedules.
The proposed revisions to the
collection of PPNR data in the
FR Y–14A worksheets (contained within
the Summary schedule) and FR Y–14Q
schedule include: (1) Expanding the
data collection on non-interest income
and expense and (2) collecting on a onetime basis, historical data for proposed
data items and inclusion of one-time
items in PPNR on the PPNR Submission
worksheet, the PPNR Net Interest
Income (NII) worksheet, and the PPNR
Metrics worksheet.
The proposed revisions to the FR Y–
14A, Q, and M include: (1) Revising the
respondent panel to be more consistent
with the scope of application in the
notice of proposed rulemaking regarding
enhanced prudential standards (77 FR
594); (2) adding an attestation to the FR
Y–14 submission that must be signed by
the Chief Financial Officer (CFO) of the
BHC (or by the individual performing
this equivalent function); and (3)
collecting contact information for each
reported schedule.
Draft files illustrating the proposed
new schedules and instructions, and the
proposed revisions to the current
reporting schedules and instructions are
available on the Federal Reserve Board’s
public Web site at: http://
www.federalreserve.gov/boarddocs/
reportforms/review.cfm.
rulemaking that was proposed in 2011. Attached to
the press release is a copy of the signed, prepublished version of this final rulemaking.
6 CUSIP refers to the Committee on Uniform
Security Identification Procedures. This 9-character
alphanumeric code identifies any North American
security for the purposes of facilitating clearing and
settlement of trades.

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Federal Register / Vol. 77, No. 130 / Friday, July 6, 2012 / Notices

Proposed Revisions to the FR Y–14A
(Annual Collection) Summary Schedule
The Federal Reserve proposes revising
several worksheets included in the
Summary schedule: Income Statement,
Balance Sheet, ASC 310–30, Retail
Balance and Loss Projections, Retail
Repurchase, Trading Risk, CCR, and
PPNR 7 worksheets. The proposed
revisions to these worksheets are
necessary for the Federal Reserve to
better understand the characteristics
underlying the risks to which BHCs are
exposed.
Income Statement worksheet. The
Federal Reserve proposes revising this
worksheet to expand the definitions of
several loan categories (such as, certain
domestic and international real estate
and CRE loans, international
Commercial and Industrial (C&I) loans,
credit card and other consumer loans).
The Federal Reserve proposes changing
the definitions of certain loan categories
from their FR Y–9C definitions in order
to better align the categories with
Federal Reserve stress testing methods
(for example, certain types of credit
cards may be included in more than one
data item on the FR Y–9C but should be
consolidated on the FR Y–14A). For
three sections of the worksheet (Accrual
Loan Losses, Losses Associated with
HFS and Loans Associated for Under
the FVO, and ALLL), the Federal
Reserve proposes splitting real estate
loans by loans originated in domestic
and foreign offices. The Federal Reserve
also proposes separating accrual loans
from HFS loans or held under the FVO
to distinguish between the different risk
characteristics of the loans booked
under these accounting standards.
The Federal Reserve proposes a new
data item, Other CCR Losses, under the
Trading Account section on the Income
Statement worksheet to allow BHCs to
include losses due to counterparty risk
that are not directly included in the
other types of loss categories available.
A breakout under Other Losses on the
Income Statement worksheet would
include Goodwill Impairment,
Valuation Adjustments for the BHCs’
own debt under a FVO, and Other
Losses. This breakout would give BHCs
greater flexibility to distinguish between
these types of loss, which have very
different implications when assessing
the BHCs’ underlying risk.
The Federal Reserve also proposes
adding to the Income Statement
worksheet more granular breakouts by
loan category of the ALLL and loan-loss
7 The discussion of the revisions to the annual
PPNR worksheets (contained in the Summary
schedule) and the quarterly PPNR Schedule is listed
below.

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provisions. These breakouts would give
greater insight into BHCs’ reserving
policies and provide clarity as to how
losses in the banking book move
through the income statement to affect
capital. The data items requested would
closely mirror the loan categories
reported on the balance sheet. However,
in an effort to reduce burden, only an
aggregate figure would be reported for
first lien mortgages; residential
mortgages, CRE, and farmland not in
domestic offices; credit card; other
consumer; and other loans in the ALLL
and loan-loss provisions section.
Balance Sheet worksheet. The Federal
Reserve proposes revising the loan
categories in this worksheet to mirror
the new categories on the Income
Statement worksheet. The Premises and
Fixed Assets section of the Balance
Sheet worksheet would be revised to
add a new subcomponent, Collateral
underlying leases for which the bank is
the lessor. Adding this data item would
allow the Federal Reserve to track
which BHCs have material exposure to
operating leases as this asset type is not
broken out separately on the FR Y–9C.
ASC 310–30 worksheet. The Federal
Reserve proposes significantly revising
this worksheet, which collects data on
purchased credit impaired loans. The
worksheet would collect data separately
for three portfolios (first lien mortgages,
second lien home equity loans, and
home equity lines of credit), as well as
any other portfolios subject to ASC 310–
30 accounting, whether they are
currently on BHCs’ portfolios or are
expected to be acquired. The current
worksheet collects aggregate figures for
all ASC 310–30 assets. These data items
would be revised in an effort to better
align with accounting definitions for the
loans reported in the purchased credit
impaired portfolio. The revised
worksheet would collect the carrying
value, allowance, provisions to and
charge-offs from the allowance,
estimates of cash flows to be collected
over the life of the loan, the
nonaccretable difference and its
components, changes to the
nonaccretable difference, and the
accretable yield and its components.
Collecting this more detailed
information would improve the Federal
Reserve’s ability to track the effect of the
stress scenario on ASC 310–30
portfolios.
Retail Balance and Loss Projections
worksheets. In an effort to streamline the
schedule, the Federal Reserve proposes
combining these two worksheets. The
combined worksheets would include a
new data item to capture loan losses,
which had previously been captured
only on the Income Statement

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worksheet. The new data item would be
reported only once on either the Income
Statement worksheet or the newly
combined worksheet, and the data
would be automatically populated in
the second worksheet.
Retail Repurchase worksheet. The
Federal Reserve proposes revising this
worksheet to collect more granular data
on the categories of repurchase
exposure. Collecting this level of data
would improve the Federal Reserve’s
ability to more precisely assess
repurchase risk exposure. The revisions
would separate portfolios sold to Fannie
Mae and Freddie Mac, as well as add a
category for loans insured by the US
government (e.g. the Federal Housing
Administration (FHA)/the U.S.
Department of Veterans Administration
(VA) loans). The revisions would
separate portfolios securitized with and
without monoline insurance.8 For all of
the portfolio categories, the worksheet
would collect separately information on
loans for which a BHC is and is not able
to report delinquency information.
Trading Risk worksheet. For each of
the eight risk categories for which BHCs
report Profit/Loss (P/L) data, the Federal
Reserve proposes adding new data items
to this worksheet to capture and
conduct analysis on the contribution of
higher-order risks (inter-asset risks
attributable to terms not represented in
the FR–Y14Q Trading Risk schedule)
and Counterparty Valuation Adjustment
(CVA) 9 hedges to the BHCs’ exposure to
trading risk.
CCR worksheet. The Federal Reserve
proposes revising this worksheet to
breakout Counterparty Credit mark-tomarket Losses (CVA losses) into
Counterparty CVA losses and Offline
Reserve CVA Losses. This breakout
would give the Federal Reserve
additional insight into the
decomposition of CVA losses, which
may vary across institutions.
Basel III/Dodd-Frank Schedule
The Federal Reserve proposes adding
a new Balance Sheet worksheet to the
Basel III/Dodd-Frank schedule to collect
supplemental balance sheet data for
BHCs’ banking and trading books to
better assess the impact and trends
relative to changes in Risk-Weighted
Assets (RWA) and implications
resulting from planned actions. For
BHCs that are not among the 19 SCAP
8 Monoline insurance is a type of insurance for
loans and bonds to cover the interest and principal
when an issuer defaults.
9 CVA is the difference between the risk-free
portfolio value and the true portfolio value that
takes into account the possibility of default by a
counterparty. In other words, CVA is the market
value of counterparty credit risk.

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TKELLEY on DSK3SPTVN1PROD with NOTICES

BHCs 10 and are not mandatory Basel II
or opt-in Basel II respondents, the
Federal Reserve proposes adding a new
simplified Risk-Weighted Assets (B)
worksheet that the BHCs would be
permitted to use at their option. This
worksheet would exclude data items
that are not relevant to the respondents.
On the Capital Composition
worksheet the Federal Reserve proposes
collecting additional earnings data for
the entire forecast period (eight years of
fourth quarter projections) in order to
facilitate future earnings analysis. Under
Periodic Changes in Common Stock,
Common Stock and Related Surplus
(Net of Treasury Stock), the Federal
Reserve proposes collecting two new
data items (issuance of common stock,
including conversion to common stock;
and repurchases of common stock).
Under Periodic Changes in Retained
Earnings, the Federal Reserve proposes
collecting three new data items (net
income/loss attributable to bank holding
company, cash dividends declared on
preferred stock, and cash dividends
declared on common stock).
Additionally, the Federal Reserve
proposes adding two data items, RWA
type and Balance Sheet Impact, to the
Planned Action worksheet to better
capture the type of exposure that the
action would have on a BHCs’ riskweighted assets. The Federal Reserve
also proposes requiring BHCs to submit
additional supporting documentation on
the anticipated market size for the
capital action, planned unwinds and
run-offs of balance sheet positions,
hedging strategies, risk-weighted
calculation methodologies, and use of
clearing houses.
Regulatory Capital Instruments
Schedule
The Federal Reserve proposes
streamlining the Regulatory Capital
schedule to simplify the data collection
by replacing five issuances and
redemptions worksheets with the new
Projected Actions and Balances
worksheet. For all forecasted periods
(reported on the new worksheet), the
Federal Reserve proposes collecting
only instrument-type data, rather than
regulatory capital instrument data at the
CUSIP-level. For all current periods
(reported on the new worksheet), the
Federal Reserve proposes collecting
CUSIP-level data for actual issuances
and actual redemptions. This
streamlining would reduce burden on
BHCs and alleviate some of the
difficulties BHCs had in projecting the
10 These 19 BHCs participated in both the 2009
Supervisory Capital Assessment Program (SCAP)
and the 2011 and 2012 CCAR exercises.

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specific CUSIP-level capital instruments
they had planned to redeem. The
streamlining would also enhance both
the quality and accuracy of the ongoing
monitoring and assessments of BHCs’
capital structure.
CCR Schedule
The Federal Reserve proposes revising
the CCR schedule to improve the ability
to monitor counterparty risk and
perform stress-testing. The revised
schedule would collect more
information on single name credit
default swaps whose purpose is to
hedge the default of the counterparty.
This information would enable the
Federal Reserve to estimate the effect of
specific hedges on CVA losses under a
variety of stress scenarios. In addition,
the CCR schedule would collect data on
the Loss Given Default (LGD) of a
counterparty default 11 to allow the
Federal Reserve to independently
estimate a CVA. An additional column
for the sensitivity to a 300 basis point
shock to counterparties’ credit spreads
would be added to improve the ability
to analyze counterparty risk under large
risk factor shocks. The Federal Reserve
proposes collecting country identifiers
for the counterparty and data regarding
whether counterparties included
downgrade triggers in collateral
arrangements. These additional data
would provide the Federal Reserve the
flexibility needed to develop
independent loss estimates. The Federal
Reserve also proposes to clarify the
instructions related to how BHCs should
document their internal data generation
and modeling used to complete the CCR
schedule.
Proposed Revisions to FR Y–14Q
(Quarterly Collection) MSR Valuation
Schedule
The Federal Reserve proposes
implementing the new quarterly MSR
Valuation schedule that would collect
information on the data that BHCs use
to value their MSRs and the sensitivities
of those valuations to changes in
economic factors. Data items collected
would include the book and market
value of MSRs, the number and dollar
value of loans serviced, capitalization
rates by product type, valuation
methodology data (such as the type of
valuation models used), valuation
sensitivity items (such as the sensitivity
of valuations to changes in interest rates
and macroeconomic variables), and
valuations metrics on servicing
portfolios (such as the discount rate
used, the option-adjusted spread,
11 This is the LGD of counterparties to the BHCs
that are used in the BHCs’ CVA calculations.

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prepayment and default rates, and
servicing costs). This proposed schedule
would enhance the ability to monitor
and stress-test MSR valuations, which
tend to be volatile and sensitive to
macroeconomic shocks.
To minimize burden on the BHCs, the
Federal Reserve proposes implementing
a materiality threshold for determining
whether a BHC would be required to
report. BHCs would be required to
complete the MSR Valuation schedule if
they meet either of the following
materiality thresholds: (1) The average
fair market value of MSRs is greater than
five percent of the firm’s average Tier 1
capital during the last four quarters or
(2) the unpaid principal balance of loans
under contract for servicing for which
an MSR value is calculated greater than
$100 billion. This schedule would have
different materiality thresholds than the
other schedules subject to a threshold.
The first threshold would be similar to
the materiality thresholds for other
schedules in that BHCs must complete
the schedule if the average fair market
value of MSRs divided by average Tier
1 capital during the last four quarters is
greater than five percent. The second
threshold would not be based on the
value of the MSR itself; instead it would
be based on the unpaid principal
balance of the loans serviced under the
MSR contract. This approach was taken
because MSR valuations tend to be quite
volatile and BHCs with high levels of
servicing exposure may report low
levels of MSR valuation for several
quarters. The balance of the serviced
loans better captures the BHCs’
exposure to and dependence on
mortgage servicing income.
Supplemental Schedule
Currently, the Federal Reserve
collects data on BHCs’ exposures at
different levels of granularity on
different reporting forms. For example,
the FR Y–9C collects aggregate exposure
information, while the FR Y–14 collects
more granular data on the risk
dimensions to which BHCs are exposed.
The Federal Reserve proposes
implementing the quarterly
Supplemental schedule to ensure that
the Federal Reserve has a consistent
view of BHCs’ exposures that are
collected at different levels of
granularity. The proposed schedule
would collect information or breakouts
of data omitted from the more granular
FR Y–14Q/M schedules, such as
balances of non-purpose securitiesbased loans, or balances of loans in
immaterial portfolios to allow the
Federal Reserve to identify factors
contributing to the gaps between the FR
Y–9C aggregate data and the data

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collected in the FR Y–14. The Federal
Reserve proposes this aggregate-level
schedule because the burden on the
institutions for reporting the data at the
granular segment- and loan-level
outweighs the value of the data to the
Federal Reserve. The proposed schedule
would allow the Federal Reserve to
understand the variation of such factors
across institutions and over time, and
also enable the Federal Reserve to
remain abreast of BHCs’ changing
exposures to portfolios not currently
captured in the FR Y–14. Lastly,
collecting this supplemental data would
provide more precise stress test
measures.

TKELLEY on DSK3SPTVN1PROD with NOTICES

Retail FVO/HFS Schedule
The Federal Reserve proposes
implementing the quarterly Retail FVO/
HFS Schedule that would collect
specific information on loans that are
accounted for under the FVO or HFS.
The schedule would collect the value of
loans segmented by various criteria,
including the type of loan (residential
loans in forward contract, residential
loans repurchased with FHA/VA
insurance,12 other residential loans,
non-residential loans in forward
contract, student loans not in forward
contract, credit card loans not in
forward contract, and auto loans not in
forward contract), and the origination
vintage. These data are necessary for the
Federal Reserve to model losses on the
FVO/HFS loans. Loans that are under a
forward contract for sale have much
lower price volatility than those loans
that are not under a forward contract.
Vintage data are important because the
age of the loan and the conditions under
which the loan was originated affect its
vulnerability to macroeconomic shocks.
The carrying values of the FVO/HFS
loans are not available elsewhere
because BHCs typically calculate the
carrying value on pools of loans and not
at the loan-level.
In an effort to reduce burden on
respondents, the Federal Reserve also
proposes making this schedule subject
to the following materiality threshold:
Material portfolios are defined as those
with asset balances greater than $5
billion or asset balances relative to Tier
1 capital greater than 5 percent on
average for the four quarters that
precede the reporting quarter.
12 Mortgage insurance is a policy that protects
lenders against losses that result from default on a
home mortgage. The FHA and the VA loan
programs are the equivalent of private mortgage
insurance required for certain conventional home
loans.

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Retail Risk Schedule
The Federal Reserve proposes
incorporating three types of revisions to
the quarterly Retail Risk schedule. First,
the Federal Reserve proposes adding a
number of additional risk characteristics
to the existing collections. These
revisions would give more direct insight
into some potential emerging risk
dimensions that were previously
captured latently through other
variables. Second, the Federal Reserve
proposes making enhancements to the
schedules to improve the consistency
across the retail schedules. These
enhancements would allow the Federal
Reserve to have a more consistent view
of BHCs’ risk profiles across portfolios,
such as adding a gross charge-off
summary variable to the Domestic Other
Consumer collection. Third, the Federal
Reserve proposes incorporating editorial
changes across the portfolio
descriptions.
The Federal Reserve proposes making
specific revisions to the following
portfolio collections in the Retail Risk
schedule:
• To the Domestic Student Loan
portfolio, adding a segment variable to
capture the level of education being
pursued by the borrower;
• To the Domestic Other Consumer
and International Other Consumer
portfolio, deleting the line of credit and
loan size segment variables as similar
information can be derived from a
combination of data items reported
elsewhere on the schedule, and adding
data items to capture gross charge-offs,
bankruptcy charge-offs, and recoveries
on loans and making this collection
consistent with the other collections
within the Retail Risk schedule, thereby
enhancing the Federal Reserves’ ability
to do cross-portfolio analysis;
• To the Domestic and International
Small Business portfolio, expanding the
Product Type segment to separate lines
of credit from term loans (these product
types exhibit different risk
characteristics which may not be
completely captured by the existing set
of segment and summary variables) and
adding a segment variable to capture
whether the loans are collateralized;
• To the International Credit Card
portfolio, expanding the Product Type
segment to separate bank cards from
charge cards (these product types
exhibit different risk characteristics
which may not be completely captured
by the existing set of segment and
summary variables);
• To the International Auto portfolio,
adding a geography segment to make the
collection consistent with the geography
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international collections in the Retail
Risk schedule, and requesting the onetime collection of the International Auto
historical data (January 2007 to present)
in order to better capture how the
geographic dimension of the risk
distribution contributed to portfolio risk
during that period; and
• To all portfolios that collect the
Vintage segment variable, converting the
Vintage segment variable to an Age
segment variable in order to remove
specific date dependencies from the
reporting requirements, which would
make the ongoing maintenance of the
reporting documents and the reporting
of the data less burdensome.
Trading Risk Schedule
The Federal Reserve proposes
deleting the Top-Ten Equity List
worksheet, Top-Ten Sovereign Credit
worksheet, and Alternative Equity by
Geography Input worksheet from the
schedule because they are no longer
necessary for the calculation of the
trading loss estimate.
The Federal Reserve proposes adding
data items to capture long versus short
market value/notional exposures,
missing product types, and more
granular credit rating information to
allow the Federal Reserve to better
differentiate across different products.
In addition, the Federal Reserve
proposes adding term structure
(floating) flexibility in the Commodities
worksheet and revising the Spot/
Volatility Grid worksheet to increase
coverage of products including
emissions and diversified commodity
indices.
In order to improve the effectiveness
of the P/L grids,13 the Federal Reserve
proposes clarifying current guidance to
request wider and denser P/L grids as
well as expanding the rates worksheets
to include P/L grids by product level.
The proposed revisions would take into
account historical price movements
observed under adverse market
conditions and are meant to increase the
effectiveness of interpolation from the
P/L grids.
The Federal Reserve proposes
clarifying the instructions to address:
implementing the P/L calculations to
generate P/L sensitivity data in the
Equity worksheet and FX worksheet,
clarifying ambiguities related to
decomposition and placement of
various trading assets within the
Securitized Products worksheet and
13 P/L grids express the amount that firms gain or
lose based on the movements of a predefined set of
fundamental risk factors such as interest rates or
credit spreads. They are used to model the expected
P/L firms will experience under a prescribed market
scenario.

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Commodities worksheet of the Trading
Risk schedule, and missing items such
as countries and update geographic
groupings.

TKELLEY on DSK3SPTVN1PROD with NOTICES

Basel III/Dodd-Frank Schedule
The Federal Reserve proposes adding
a new worksheet, MonitoringInstr, to
collect more detailed data on a quarterly
basis for ongoing monitoring and
analysis to avoid unnecessary ad-hoc,
follow-up requests with the BHCs
during the regular quarterly monitoring
process. The Federal Reserve also
proposes adding a new Balance Sheet
worksheet to collect projections of 14
balance sheet items (held to maturity
(HTM) securities; available for sale
(AFS) securities; loans and leases (held
for investment and HFS) net of
unearned income and ALLL; trading
assets; total intangible assets; other
assets; total assets; total RWA; deposits;
trading liabilities; subordinated notes
payable to unconsolidated trusts issuing
trust preferred securities (TruPS) and
TruPS issued by consolidated special
purpose entities; other liabilities; total
liabilities; and total equity capital)
through 2019. Insight into the BHCs’
projected path for these categories of
asset balances would enable the Federal
Reserve to better assess the feasibility of
plans for adhering to Basel III
requirements. For BHCs that are not
among the 19 SCAP BHCs and are not
mandatory Basel II or opt-in Basel II
respondents, the Federal Reserve
proposes adding a new simplified RiskWeighted Assets (B) worksheet that the
BHCs would be permitted to use at their
option. This worksheet would exclude
data items that are not relevant to the
respondents.
The Federal Reserve proposes adding
data items to the quarterly Basel III/
Dodd-Frank schedule in order to make
the schedule consistent with the annual
Basel III/Dodd-Frank schedule. The new
data items would include: adding
periodic charges in common stock and
retained earnings under the Capital
Composition worksheet; changing the
list of action types, exposure types, and
RWA types under Planned Action
worksheet; and adding more data items
to verify the consistency of data within
the Basel III/Dodd-Frank schedule and
in comparison to the FR Y–14A
Summary schedule. The latter would
also provide additional clarification to
Basel III-related data collected on the
annual and quarterly schedules.
Securities Risk Schedule
The Federal Reserve proposes revising
the Securities schedule to allow BHCs to
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identification number (ISIN) 14 and
identify it as such, when a security does
not have a CUSIP number. Also, the
Federal Reserve proposes combining the
domestic and foreign corporate bond
categories. In an effort to reduce burden,
the reporting of previously optional
fields (purchase date, purchase price,
and purchase yield) have been
eliminated.
Proposed Revisions to the FR Y–14A/Q
PPNR Worksheets (Annual Collection)
and PPNR Schedule (Quarterly
Collection)
The FR Y–14 collects PPNR data on
an annual and quarterly basis. The
annual worksheets (contained in the
Summary schedule) collect projection
information and the quarterly schedule
monitors actual PPNR data. The Federal
Reserve proposes revising the three
PPNR worksheets (PPNR Projections,
PPNR NII, and PPNR Metrics) and the
quarterly PPNR schedule based on
industry feedback and the Federal
Reserve’s experience analyzing these
data thus far.
Currently, only BHCs with deposits
comprising at least one-third of total
liabilities for any reported period are
required to report data on the PPNR NII
worksheet. The Federal Reserve
proposes reducing the threshold for
reporting to one-quarter of total
liabilities because the Federal Reserve
believes that the current threshold does
not capture all the BHCs for which it
needs to conduct an in-depth net
interest income assessment.
Furthermore, while the Federal Reserve
originally sought to reduce burden on
the industry, the agency proposes
making all data items on the PPNR
Projections worksheet and the PPNR NII
worksheet required (removing the
optional reporting status for certain data
items). As with the revision to the
reporting threshold, these data are
needed to better analyze net interest
income. Currently, BHCs can choose
‘‘Primary’’ and ‘‘Supplementary’’
worksheets with reduced reporting
requirements on the ‘‘Supplementary’’
worksheet.
In an effort to better understand the
core drivers of BHCs revenues and
expenses, the Federal Reserve proposes
revising certain PPNR data items,
including: (1) The exclusion of one-time
income and expense items would be
eliminated, in order to ensure a more
consistent definition of PPNR among
BHCs and (2) the breakout of optional
14 An ISIN is a number that is assigned to almost
every stock and registered bond that trades
throughout the world. It facilitates trade and
settlement by making each security unique to every
other security of the same class.

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immaterial revenues into net interest
income and non-interest income, in
order to ensure consistency with other
PPNR schedule instructions that require
reconciliation to the FRY–9C for each
component of PPNR (net interest
income, non-interest income, and noninterest expense).
The Federal Reserve proposes adding
several new breakouts and data items as
well as a new business line into the
components revenues (on the annual
PPNR Projections worksheet and the
quarterly PPNR Submission worksheet),
including:
• A new breakout for credit card
revenues would split out interchange
revenues from reward activity and
partner-sharing contra-revenue;
• Revenue from the mortgage and
home equity business line would be
split into production and servicing
income; provisions to reserves for
representations and warranties and
repurchase obligations and other
liabilities related to sold mortgages also
would be split out;
• Revenue related to retail and small
business deposits would separate
overdraft fees; and
• A new business line for Merchant
Banking/Private Equity would be added;
previously this business line had been
included among the other business
lines, typically Investment Banking.
On the annual PPNR Projections
worksheet and the quarterly PPNR
Submission worksheet, the Federal
Reserve proposes substantively
expanding the data collected on noninterest expense. The new data items
would include Legal Expenses,
Litigation Settlements and Penalties,
and Reserves for Repurchases and
Litigation related to sold and securitized
mortgages. Other new data items would
include marketing expenses, credit card
reward expenses, expenses related to
premises, fixed assets, and other real
estate owned.
The Federal Reserve proposes adding
several data items to the PPNR Metrics
worksheet:
• To the Retail and Small Business
section, data items related to mortgage
servicing would be expanded and
would include information on
residential loans sold and servicing
expenses; also the number of credit card
accounts and deposit accounts would be
added;
• To the Investment Banking section,
the estimate of market share would be
replaced with measures of market size,
and the number of employees would be
added;
• To Investment Management section,
Assets Under Management would
include a breakout of fixed income; and

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• To the Firm-Wide Metrics section,
severance costs would be added, and
certain data items that correspond to FR
Y–9C would be added to the annual
worksheet to collect projection data in
order to compare the business line
perspective of the FR Y–14 to the FR
Y–9C items.
The Federal Reserve also proposes a
one-time collection of the historical data
only for these new data items on the
PPNR Submission worksheet, the PPNR
NII worksheet, and the PPNR Metrics
worksheet (from first quarter 2009
through second quarter 2012) including
elimination of the one-time data items
exclusions. BHCs should have the
historical data for the new data items
available or would be able to calculate
them. In third quarter 2011, the Federal
Reserve collected data dating back to
2009 when PPNR data was collected for
the first time under the FR Y–14. The
historical data previously collected is
used to assess trends in PPNR results
among the BHCs and to assess whether
the projections presented in the FR
Y–14A are consistent with past
performance. Based on the reasons
stated above the Federal Reserve also
proposes requiring BHCs that are newly
subject to the FR Y–14 reporting
requirements to submit historical data
(back to first quarter 2009) with their
first quarter data submission.

TKELLEY on DSK3SPTVN1PROD with NOTICES

General Revisions to the FR
Y–14A/Q/M
Respondent Panel
The Federal Reserve proposes revising
the respondent panel to be consistent
with the scope of application in the
notice of proposed rulemaking regarding
enhanced prudential standards. As
revised, the respondent panel would be
defined as: ‘‘Any top-tier bank holding
company (other than a foreign banking
organization), that has $50 billion or
more in total consolidated assets, as
determined based on: (i) The average of
the bank holding company’s total
consolidated assets in the four most
recent quarters as reported quarterly on
the bank holding company’s
Consolidated Financial Statements for
Bank Holding Companies (FR Y–9C); or
(ii) the average of the bank holding
company’s total consolidated assets in
the most recent consecutive quarters as
reported quarterly on the bank holding
company’s FR Y–9Cs, if the bank
holding company has not filed an FR
Y–9C for each of the most recent four
quarters.’’ The Federal Reserve also
proposes expanding the respondent
panel to include the 11 large BHCs that
meet the asset threshold for reporting
but that did not participate in the

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previous 2009 SCAP or CCAR 2011
exercises, except for SR 01–01 firms. As
of September 30, 2011, there were
approximately 33 large BHCs.15 The
asset threshold of $50 billion is
consistent with the threshold
established by section 165 of the DoddFrank Act relating to enhanced
supervision and prudential standards
for certain BHCs.
Attestation
The Federal Reserve proposes
requiring the signature of the BHCs’
CFO (or the individual performing this
equivalent function) on the FR Y–14
submission. The Federal Reserve
proposes adding a new cover page to
provide the appropriate attestation
language (consistent, as appropriate,
with the FR Y–9C) and stating in the
general reporting instructions for the FR
Y–14A, Q, and M the following:
The Capital Assessments and Stress
Testing (FR Y–14A/Q/M) data submission
must be signed by the Chief Financial Officer
of the BHC (or by the individual performing
this equivalent function). By signing the
cover page of this report, the authorized
officer acknowledges that any knowing and
willful misrepresentation or omission of a
material fact on this report constitutes fraud
in the inducement and may subject the
officer to legal sanctions provided by 18
U.S.C. 1001 and 1007.
Bank holding companies must maintain in
their files a manually signed and attested
printout of the data submitted. The cover
page from the Federal Reserve’s Web site
reporting form should be used to fulfill the
signature and attestation requirement and
this page should be attached to the printout
placed in the bank holding company’s files.

Contact Information
The Federal Reserve proposes
collecting contact information for each
of the reported schedules to facilitate
and expedite responses to follow up
questions. Consistent with the cover
page of the FR Y–9C, each schedule
would include the statement, ‘‘Person to
whom questions about this schedule
should be directed,’’ and would collect
name/title, phone number, fax number,
and email address.
Request for Additional Feedback
The Federal Reserve is seeking
additional feedback on the following
questions from first-time respondents of

the FR Y–14Q/M on ways to reduce
reporting burden:
1. Should the Federal Reserve allow a
transition period during which firsttime respondents of the FR Y–14Q/M
may (1) use a tailored materiality
threshold, (2) submit the schedules
under an extended filing deadline, or (3)
both?
2. If a transition period is allowed,
how long should it be? Would a tailored
materiality threshold of 25% of tier 1
capital or a threshold of 100% of tier 1
capital be more appropriate? For the
quarterly and monthly filings, how
much additional time should the
Federal Reserve allow for filing the
schedules?
The Federal Reserve is seeking
feedback on the following question from
all respondents on the Basel III/DoddFrank schedule.
3. On June 12, 2012, the Federal
Reserve Board, the OCC, and the FDIC
published a joint press release seeking
comment on three proposed
rulemakings that would revise and
replace the agencies’ current capital
rules (the Basel III proposed
rulemakings) and announcing the
finalization of the Market Risk Capital
rulemaking. The Board’s press release
with the pre-published rulemakings is
available on the Board’s public Web site
at: www.federalreserve.gov/newsevents/
press/bcreg/20120612a.htm. With
respect to the annual and quarterly
Basel III/Dodd-Frank schedules (except
for that portion which relates to market
RWAs), what are the costs and benefits
associated with allowing BHCs to
continue to follow existing BCBS
guidance on Basel III, given that some
aspects of any final rule implementing
Basel III in the United States, may differ
significantly from the BCBS guidance,
and in particular those aspects of the
guidance involving securitization
exposures and credit ratings? On what
basis (BCBS guidance, the proposed
rulemakings, or some combination
thereof) should the Basel III/Dodd-Frank
schedules be based and why?
Board of Governors of the Federal Reserve
System, June 29, 2012.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. 2012–16484 Filed 7–5–12; 8:45 am]
BILLING CODE 6210–01–P

33 BHCs currently meet the reporting
asset threshold, three are SR 01–01 BHCs and are
therefore exempt from reporting. SR 01–01
(Application of the Board’s Capital Adequacy
Guidelines to BHCs owned by Foreign Banking
Organizations) states, ‘‘as a general matter, a U.S.
BHC that is owned and controlled by a foreign bank
that is an FHC that the Board has determined to be
well-capitalized and well-managed will not be
required to comply with the Board’s capital
adequacy guidelines.’’

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FEDERAL RESERVE SYSTEM
Change in Bank Control Notices;
Acquisitions of Shares of a Bank or
Bank Holding Company
The notificants listed below have
applied under the Change in Bank

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