Holding Company Report of Insured Depository Institutions' Section 23A Transactions with Affiliates

ICR 201806-7100-006

OMB: 7100-0126

Federal Form Document

Forms and Documents
IC Document Collections
ICR Details
7100-0126 201806-7100-006
Historical Active 201712-7100-012
FRS FR Y-8
Holding Company Report of Insured Depository Institutions' Section 23A Transactions with Affiliates
Revision of a currently approved collection   No
Delegated
Approved without change 06/22/2018
Retrieve Notice of Action (NOA) 06/22/2018
  Inventory as of this Action Requested Previously Approved
06/30/2021 36 Months From Approved 10/31/2018
3,732 0 19,024
29,110 0 44,402
0 0 0

The FR Y-8 collects information on covered transactions between an insured depository institution and its affiliates that are subject to the quantitative limits and other requirements of section 23A of the Federal Reserve Act (12 U.S.C. 371c) and the Board’s Regulation W - Transactions Between Member Banks and Their Affiliates (12 CFR part 223). The FR Y-8 is filed quarterly by all U.S. top-tier bank holding companies (BHCs) and savings and loan holding companies (SLHCs), and by foreign banking organizations (FBOs) that directly own or control a U.S. subsidiary insured depository institution. If an FBO indirectly controls a U.S. insured depository institution through a U.S. holding company, only the U.S. holding company must file the FR Y-8. A respondent must file a separate report for each U.S. insured depository institution it controls. The FR Y-8 reporting form comprises a cover page, declaration page, and two pages collecting data on covered transactions and derivatives. Section 23A of the Federal Reserve Act limits an insured depository institution’s exposure to affiliated entities and helps to protect against the expansion of the federal safety net to uninsured entities. The primary purpose of the data is to enhance the Board’s ability to monitor the credit exposure of insured depository institutions to their affiliates and to ensure that insured depository institutions are in compliance with section 23A.

US Code: 12 USC 1844(c) Name of Law: Bank Holding Company Act
   US Code: 12 USC 1467a(b)(2) Name of Law: Home Owners' Loan Act
  
None

Not associated with rulemaking

  83 FR 11519 03/15/2018
83 FR 28428 06/19/2018
No

  Total Approved Previously Approved Change Due to New Statute Change Due to Agency Discretion Change Due to Adjustment in Estimate Change Due to Potential Violation of the PRA
Annual Number of Responses 3,732 19,024 0 -15,292 0 0
Annual Time Burden (Hours) 29,110 44,402 0 -15,292 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
Yes
Miscellaneous Actions
The current total annual reporting burden for the FR Y-8 report is estimated to be 44,402 hours. The Board estimates that, with the elimination of the declaration page, the total annual burden has decreased by 15,292 hours.

$145,200
No
    Yes
    No
No
No
No
Uncollected
Scott Farmer 202-452-2253 [email protected]

  No

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.
06/22/2018


© 2024 OMB.report | Privacy Policy