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

Forms and Documents

Document	Type	Status	Availability
Form FR Y-8 Holding Company Report of Insured Depository Institutions' Section 23A Transactions with Affiliates	Form	Modified	Available
CECL_20190328_omb.pdf	Supporting Statement A	Uploaded 2019-03-28	Available

IC Document Collections

IC ID	Collection	Type	Status	Form
36144	Holding Company Report of Insured Depository Institutions' Section 23A Transactions with Affiliates	Form	Modified

ICR Details

OMB Control No: 7100-0126	ICR Reference No: 201903-7100-018
Status: Active	Previous ICR Reference No: 201809-7100-009
Agency/Subagency: FRS	Agency Tracking No: FR Y-8
Title: Holding Company Report of Insured Depository Institutions' Section 23A Transactions with Affiliates
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Delegated
OIRA Conclusion Action: Approved without change	Conclusion Date: 03/29/2019
	Date Received in OIRA: 03/29/2019
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	03/31/2022	36 Months From Approved	06/30/2021
Responses	3,732	0	3,732
Time Burden (Hours)	29,110	0	29,110
Cost Burden (Dollars)	0	0	0

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Abstract: 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 comprises a cover 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.

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Authorizing Statute(s): US Code: 12 USC 1844(c) Name of Law: Bank Holding Company Act of 1956
   US Code: 12 USC 1467a(b)(2) Name of Law: Home Owners’ Loan Act
   US Code: 12 USC 371c Name of Law: Federal Reserve Act
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	83 FR 63870	12/12/2018
30-day Notice:	Federal Register Citation:	Citation Date:
	84 FR 11783	03/28/2019
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Holding Company Report of Insured Depository Institutions' Section 23A Transactions with Affiliates	FR Y-8	Holding Company Report of Insured Depository Institutions’ Section 23A Transactions with Affiliates

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ICR Summary of Burden

	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	3,732	0	0	0	0
Annual Time Burden (Hours)	29,110	29,110	0	0	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement:

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Annual Cost to Federal Government: $145,200

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     Yes

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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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:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(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;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

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.

Certification Date: 03/29/2019

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