MSR Valuation - Quarterly

OMB No. 7100-0341
Expiration Date: October 31, 2015

General Instructions for the Reporting of the
Capital Assessments and Stress Testing information collection
(FR Y-14Q/M)

This Report is required by law: section 165 of the Dodd-Frank Act (12 U.S.C. § 5365) and section 5 of the Bank
Holding Company Act (12 U.S.C. § 1844). Public reporting burden for quarterly schedules in this information
collection is estimated to vary from 8 to 1,720 hours per response, with certain schedules only reported by
respondents that meet certain materiality thresholds. Public reporting burden for monthly information collection
is estimated to 430 hours per response. These estimates include time to gather and maintain data in the required
form and to review instructions and complete the information collection. Comments regarding this burden
estimate or any other aspect of this information collection, including suggestions for reducing the burden, may be
sent to Secretary, Board of Governors of the Federal Reserve System, 20th and C Streets, NW, Washington, DC
20551, and to the Office of Management and Budget, Paperwork Reduction Project (7100-0341), Washington, DC
20503.

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General Instructions for Preparation of the Quarterly
Capital Assessments and Stress Testing Reports
FR Y-14Q/M
The FR Y-14Q/M reports collects detailed data on bank holding companies’ various asset
classes and categories of pre-provision net revenue (PPNR) on a quarterly/monthly basis, which
will be used to support supervisory stress testing models and for continuous monitoring efforts.
The FR Y-14Q/M reports includes data schedules for Securities Risk; Retail Risk; PPNR;
Wholesale Risk; Trading, Private Equity, and Other Fair Value Assets (Trading); Basel III and
Dodd-Frank (Basel III); and Regulatory Capital Instruments. All of the data schedules, other
than the Basel III schedule and Regulatory Capital Instruments schedules are to be submitted
each reporting period. The Basel III and Regulatory Capital Instruments data schedules are to
be submitted for all quarters, except for the third quarter.
(1) Who Must Report
(i) Reporting Criteria
a. Large BHCs that meet an annual threshold of $50 billion or more in total
consolidated assets, as defined by the capital plan rule (12 CFR 225.8), are required
to submit the Capital Assessment and Stress Testing report to the Federal Reserve.
The capital plan rule defines total consolidated assets as the average of the
company’s total consolidated assets over the course of the previous four calendar
quarters, as reflected on the BHC’s consolidated financial statement for bank
holding companies (FR Y–9C). The calculation shall be effective as of the due date of
the bank holding company’s most recent FR Y–9C.
b. The specific reporting requirements for each bank holding company depend upon
the size of the holding company and the level of activity in certain risk types. The
number of schedules each bank holding company is required to complete is subject
to materiality threshold.
1) PPNR schedule, Basel III schedule, and Regulatory Capital Instruments
schedule: All bank holding companies must submit these schedules.
2) Trading schedule: Only BHCs with greater than $500 billion in total consolidated
assets who are subject to the amended market risk rule (12 CFR Parts 208,
Appendix, E and 225, Appendix E) must submit this schedule and worksheets.
3) All other quarterly and monthly schedules: The remaining schedules are
subject to materiality thresholds. Material portfolios are defined as those with
asset balances greater than $5 billion or asset balances greater than 5 percent of
Tier 1 capital on average for the four quarters preceding the reporting quarter.
For schedules that require the institutions to report information on serviced
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loans, the materiality threshold is based on the asset balances associated with
the BHC’s owned portfolio. All data used to determine materiality should be
measured as of the close of business of the last calendar day of the quarter, and
assets included in a given portfolio are defined in the instructions for each
schedule. BHCs will have an option to complete the data schedules for
immaterial portfolios. If the BHCs do not complete the schedules, the Federal
Reserve will assign losses to immaterial portfolios in a manner consistent with
the given scenario to produce supervisory estimates.
(ii) Exemptions
a. Only bank holding companies that did not meet the reporting criteria listed in
paragraph one above are exempt from reporting.
(2) Where to Submit the Reports
(i) All bank holding companies subject to these reporting requirements must submit their
completed reports electronically. Bank holding companies will be provided information
on how to transmit data directly to the Federal Reserve or to the Federal Reserve
through data aggregators.
(3) When to Submit the Reports
(i) Bank holding companies must file the Capital Assessment and Stress Testing schedules
(FR Y-14Q/M) on the appropriate time schedules as described below:
a. Bank holding companies must submit data associated with quarterly data schedules
on the same time schedule as the FR Y-9C reported data (40 calendar days after the
calendar quarter-end for March, June, and September and 45 calendar days after
the calendar quarter-end for December, unless that day falls on a weekend or
holiday (subject to timely filing provisions)).
b. Bank holding companies must submit data associated with the monthly data
schedules by the 30th calendar day after the last business day of the preceding
calendar month.
c. Beginning in 2012, the quarterly Trading schedule as-of-date for the first, second,
and fourth quarters would be the same as the as-of dates for the other reported
schedules. For the 3rd quarter, the BHCs will be required to report data as part of a
market shock exercise. 1 Due to the nature of this exercise, the Federal Reserve will
communicate to the appropriate bank holding companies the specific as-of date for
trading data in the fourth quarter, but no later than December 1st. The data would
be due 40 calendar days after the notification date (notifying respondents of the as1

See, for example, 18 U.S.C. 1005

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of-date) or, for the 3rd quarter data, December 15th, whichever comes earlier. BHCs
may provide these data as-of the most recent date that corresponds to their weekly
internal risk reporting cycle as long as it falls before the as-of-date. In addition, for
BHCs that are required to re-submit a capital plan, the due date for the quarter preceding the quarter in which the BHCs are required to re-submit a capital plan would
be the later of (1) the normal due date or (2) the date that the re-submitted capital
plan is due, including any extensions.
d. General Timing: If the submission date falls on a weekend or holiday, the data must
be received on the first business day after the weekend or holiday. No other
extensions of time for submitting reports will be granted. The data are due by the
end of the reporting day on the submission date. Earlier submission aids the Federal
Reserve in reviewing and processing the data and is encouraged.
(4) How to Prepare the Reports
(i) Applicability of GAAP, Consolidation Rules, and Other Instructional Guidance
a. Bank holding companies are required to prepare and file the FR Y-14Q/M schedules
in accordance with generally accepted accounting principles (GAAP) and these
instructions. The financial records of the bank holding companies should be
maintained in such a manner and scope so as to ensure the FR Y-14Q/M can be
prepared and filed in accordance with these instructions and reflect a fair
presentation of bank holding companies' financial condition and assessment of their
performance under stressed scenarios.
b. Rules of Consolidation: Please see the FR Y-9C General Instructions for a discussion
of the rules of consolidation.
c. Bank holding companies should look to the following published documents (in the
order listed below) when determining the precise definition to be used in
completing the schedules:
• The FR Y-14Q/M instructions.
• The latest available FR Y-9C instructions published on the Federal Reserve’s
public web site: http://www.federalreserve.gov/reportforms.
(ii) Confidentiality. As these data will be collected as part of the supervisory process, they
are subject to confidential treatment under exemption 8 of the Freedom of Information
Act. 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. 5
U.S.C. 552(b)(4). Disclosure determinations would be made on a case-by-case basis.
(iii) Amended Reports
a. The Federal Reserve will require the filing of amended reports if reports as
previously submitted contain significant errors. In addition, a reporting institution
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must file an amended report when it or the Federal Reserve discovers significant
errors or omissions subsequent to submission of a report. Failure to file amended
reports on a timely basis may subject the institution to supervisory action.
(iv) Legal Considerations for International Exposures
a. A BHC is not required to report a particular data item if a foreign law prohibits the
BHC from providing the information to the Federal Reserve. However, the Federal
Reserve is authorized by law to collect information from a BHC regarding its
exposures, including foreign exposures.3 A BHC must include with its data
submission a legal analysis of the foreign law that prohibits reporting the data to the
Federal Reserve.
• The legal analysis must include, but is not limited to, a detailed description and
analysis of the law(s) prohibiting the reporting of the information to the Federal
Reserve, a summary description of the exposures omitted, any other information
the BHC deems relevant to justify omitting the data from the report, and any
additional information required by the Federal Reserve.
(v) Questions and requests for interpretations. Bank holding companies should submit
any questions or requests for interpretations by email to [email protected].

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