FRY9_20211222_omb

Supporting Statement for the
Financial Statements for Holding Companies
(FR Y-9; OMB No. 7100-0128)
Summary
The Board of Governors of the Federal Reserve System (Board), under authority
delegated by the Office of Management and Budget (OMB), has extended for three years, with
revision, the Financial Statements for Holding Companies (FR Y-9; OMB No. 7100-0128). This
information collection comprises the following five reports:
• Consolidated Financial Statements for Holding Companies (FR Y-9C),
• Parent Company Only Financial Statements for Large Holding Companies (FR Y-9LP),
• Parent Company Only Financial Statements for Small Holding Companies (FR Y-9SP),
• Financial Statements for Employee Stock Ownership Plan Holding Companies
(FR Y-9ES), and
• Supplement to the Consolidated Financial Statements for Holding Companies
(FR Y-9CS).
The Board requires bank holding companies (BHCs), most savings and loan holding
companies (SLHCs), securities holding companies, and U.S. intermediate holding companies
(IHCs) (collectively HCs) to provide standardized financial statements through one or more of
the FR Y-9 reports.1 The information collected on the FR Y-9 reports is necessary for the Board
to identify emerging financial risks and monitor the safety and soundness of HC operations.
The Board revised the reporting forms and instructions for the FR Y-9C and FR Y-9SP to
collect the name, phone number, and email address of the HC’s Chief Executive Officer (CEO).
The Board also revised the FR Y-9SP by adding check a box to collect information on the
number of full-time equivalent employees on a consolidated basis. In addition, the Board revised
the FR Y-9C Glossary entries on “Brokered Deposits” and “Brokered Retail Deposits” to clarify
the term “deposit broker” consistent with recent changes to Federal Deposit Insurance
Corporation (FDIC) regulations.2 Finally, the Board added a new check-box item related to the
final rule on the standardized approach for counterparty credit risk (SA-CCR). The revisions to
the FR Y-9C instructions related to brokered deposits 3 and new SA-CCR check box item are
consistent with recently proposed revisions to the Federal Financial Institutions Examination
Council (FFIEC) Consolidated Reports of Condition and Income (Call Reports) (FFIEC 031,
FFIEC 041, and FFIEC 051; OMB No. 7100-0036).4 The changes to the FR Y-9C and FR Y-9SP
will take effect as of the December 31, 2021, report date. There are no revisions at this time for
the FR Y-9LP, FR Y-9ES, or FR Y-9CS.
1

The following depository institution holding companies are exempt: (1) a unitary savings and loan holding
company with primarily commercial assets that meets the requirements of section 10(c)(9)(c) of the Home Owners’
Loan Act, for which thrifts make up less than 5 percent of its consolidated assets and (2) a n SLHC that primarily
holds insurance-related assets and does not otherwise submit financial reports with the Securities and Exchange
Commission pursuant to sections 13 or 15(d) of the Securities Exchange Act of 1934.
2
12 CFR 337.6.
3
86 FR 8480 (February 5, 2021).
4
86 FR 38810 (July 22, 2021).

The current estimated total annual burden for the FR Y-9 reports is 115,022 hours, and
would increase to 115,421 hours. The revisions would result in an increase of 399 hours. The
FR Y-9 forms and instructions are available on the Board’s public website at
https://www.federalreserve.gov/apps/reportforms/default.aspx.
Background and Justification
The FR Y-9 reports are the Board’s primary source of financial data from HCs. Federal
Reserve System examiners rely on the FR Y-9 reports to supervise financial institutions between
on-site inspections. The Board uses the collected data to detect emerging financial problems,
conduct pre-inspection analysis, monitor and evaluate capital adequacy, evaluate mergers and
acquisitions, and analyze an HC’s overall financial condition to monitor the safety and soundness
of its operations. The information collected by the FR Y-9 reports is not available from other
sources.
Description of Information Collection
The FR Y-9C consists of standardized financial statements for HCs similar to the FFIEC
Call Reports filed by commercial banks. The FR Y-9C collects consolidated data and is filed
quarterly by top-tier HCs with total consolidated assets of $3 billion or more. 5
The FR Y-9LP, which collects parent company only financial data, must be submitted by
each HC that files the FR Y-9C, as well as by each of its subsidiary HCs. 6 The report consists of
standardized financial statements, including the following schedules: income statement, cash
flow statement, balance sheet, investments in subsidiaries and associated companies,
memoranda, and notes to the parent company only financial statements.
The FR Y-9SP is a parent company only financial statement filed semiannually by HCs
with total consolidated assets of less than $3 billion. In a banking organization with total
consolidated assets of less than $3 billion that has tiered HCs, each HC in the organ ization must
submit, or have the top-tier HC submit on its behalf, a separate FR Y-9SP. This report collects
basic balance sheet and income data for the parent company, as well as data on its intangible
assets and intercompany transactions.
The FR Y-9ES is filed annually by each employee stock ownership plan (ESOP) that is
also an HC. The report collects financial data on the ESOP’s benefit plan activities. The
FR Y-9ES consists of four schedules: Statement of Changes in Net Assets Available for
Benefits, Statement of Net Assets Available for Benefits, Memoranda, and Notes to the Financial
Statements.
The instructions to each of the FR Y-9C, FR Y-9LP, FR Y-9SP, and FR Y-9ES state that
respondent HCs should retain workpapers and other records used in the preparation of the
reports. In addition, HCs must maintain in their files a manually signed and attested printout of
Under certain circumstances described in the FR Y-9C’s General Instructions, HCs with assets under $3 billion
may be required to file the FR Y-9C.
6
A top-tier HC may submit a separate FR Y-9LP on behalf of each of its lower-tier HCs.
5

2

the data submitted under each form.
The FR Y-9CS is a voluntary, free-form supplemental report that the Board may utilize to
collect critical additional data from HCs deemed to be needed in an expedited manner. The
FR Y-9CS data collections are used to assess and monitor emerging issues related to HCs, and
the report is intended to supplement the other FR Y-9 reports. The data requested by the
FR Y-9CS would depend on the Board’s data needs in any given situation. For example, changes
made by the Financial Accounting Standards Board may introduce into U.S. generally accepted
accounting principles new data items that are not currently collected by the other FR Y-9 reports.
The Board could use the FR Y-9CS report to collect these data until the items are implemented
into the other FR Y-9 reports.7
Respondent Panel
The FR Y-9 respondent panel comprises HCs. Specifically, the FR Y-9C panel comprises
top-tier HCs with total consolidated assets of $3 billion or more; the FR Y-9LP panel comprises
each HC that files the FR Y-9C, as well as by each of its subsidiary HCs; the FR Y-9SP panel
comprises HCs with total consolidated assets of less than $3 billion;8 the FR Y-9ES panel
comprises each ESOP that is also an HC; and the FR Y-9CS panel comprises any HC the Board
selects.9 Most small entities are filing the streamlined parent only FR Y-9SP report
semiannually.
Revisions to the FR Y-9C and FR Y-9SP
Chief Executive Officer Contact Information
The Federal Reserve periodically needs to communicate directly with the CEOs of
holding companies via email; however, the Federal Reserve currently does not have a complete
list of CEO email addresses. To streamline communications to CEOs, the Board will collect the
name, email address, and phone number of the HC’s CEO on the FR Y-9C and FR Y-9SP
reports. CEO communications would be initiated or approved by the Board’s senior management
and would involve topics such as new initiatives and policy notifications.

7

The FR Y-9CS was most recently used by the Board on June 30, 2008. In that collection, data were requested from
banking organizations implementing an Advanced Measurement Approach to calculate operational risk capital
under the Basel II Risk-Based Capital Framework. The report was used to conduct a voluntary Loss Data Collection
Exercise relating to operational risk.
8
The following HCs do not have to file holding company financial statements under the FR Y-9C, FR Y-9LP, and
FR Y-9SP: (1) HCs that have been granted a n exemption under section 4(d) of the Bank Holding Company Act and
(2) a “qualified foreign banking organization” as defined by section 211.23(a) of Regulation K (12 CFR 211.23(a))
that controls a U.S. subsidiary bank.
9
The Reserve Bank with whom a reporting HC files its reports may require that a HC with total consolidated assets
of less than $3 billion submit the FR Y-9C and the FR Y-9LP reports to meet supervisory needs. In addition, any
HC that is not subject to the Federal Reserve’s Capital Adequacy Guidelines, but nonetheless elects to comply with
the guidelines, are required to file a complete FR Y-9C and FR Y-9LP report, and generally would not be permitted
to revert back to filing the FR Y-9SP report in any subsequent periods. See footnote 2 of the general instructions for
the FR Y-9C for more information.

3

The CEO contact information is for the confidential use of the Federal Reserve and
would not be released to the public. The Board intends for CEO email addresses and phone
numbers to be used judiciously and only for significant matters requiring CEO-level attention.
Having a comprehensive database of HC’s CEO contact information, including email addresses
and phone numbers, would allow the Federal Reserve to have current information to
communicate important and time-sensitive information to CEOs. This information will be
collected quarterly on the FR Y-9C report for consistency with the Call Report and semiannually
on the FR Y-9SP report. The information would be collected from top-tier holding companies
only.
Full-Time Employees
Consistent with the Interagency Policy Statement Establishing Joint Standards for
Assessing the Diversity Policies of Entities Regulated by the Agencies,10 which was issued as
required by section 342 of the Dodd-Frank Wall Street Reform and Consumer Protection Act,
the Board’s Office of Minority and Women Inclusion (OMWI) conducts an annual survey of
entities the Board regulates. In this voluntary survey, the Board collects a self-assessment report
on diversity policies and practices from entities with 100 or more full-time equivalent
employees.
Currently, to identify those entities that should be invited to participate in the survey, the
Board’s OMWI relies on the FR Y-9C and Call Report, which collect data on the number of fulltime equivalent employees for the consolidated entity. Because these data are not collected on
the parent-only FR Y-9SP or the nonbank subsidiary reports,11 the Board cannot accurately
identify the FR Y-9SP reporters with 100 or more full-time equivalent employees on a
consolidated basis that should be invited to participate in this survey.
Therefore, the Board added a new check box, Memorandum item 5, “Does your holding
company have 100 or more full-time equivalent employees on a consolidated basis?” to Schedule
SI, Income Statement of FR Y-9SP report. The addition of this item on the FR Y-9SP would
enable OMWI to have a comprehensive list of the institutions with full-time equivalent
employees of 100 or more on a consolidated basis. The data item will only be collected from toptier holding companies and would be collected only on the report for the December 31 as of date.
Given that the additional information to be reported should be easily obtainable, the Board
expects a small burden increase for reporters.

10

80 FR 33016 (June 10, 2015). Agencies include the Office of the Comptroller of the Currency (OCC), Board,
FDIC, National Credit Union Administration, Bureau of Consumer Financial Protection, and Securities and
Exchange Commission.
11
The nonbank subsidiary reports include the Financial Statements of Foreign Subsidiaries of U.S. Banking
Organizations (FR 2314 and FR 2314S; OMB No. 7100-0073), Financial Statements of U.S. Nonbank Subsidiaries
held by Foreign Banking Organizations (FR Y-7N, FR Y-7NS, and FR Y-7Q; OMB No. 7100-0125), and Financial
Statements of U.S. Nonbank Subsidiaries of U.S. Holding Companies (FR Y-11 and FR Y-11S; OMB No.
7100-0244).

4

Brokered Deposits Glossary Entries
The FR Y-9C instructions Glossary defines “Brokered Deposits” and “Brokered Retail
Deposits” consistent with section 29(g) of the Federal Deposit Insurance Act (FDI Act) and the
FDIC’s brokered deposits regulation.12 Under these definitions, the meaning of the term
“brokered deposit” references the defined term “deposit broker.” On January 22, 2021, the FDIC
published in the Federal Register a final rule to amend its brokered deposits regulation (brokered
deposits final rule),13 which established a new framework for analyzing certain provisions of the
“deposit broker” definition in the FDI Act.14 The brokered deposits final rule clarified the term
“deposit broker” and the analysis of whether entities are engaged in the business of placing, or
facilitating the placement of, deposits. The revised FDIC regulation describes exceptions to the
definition of “deposit broker,” including when the primary purpose of an agent’s or nominee’s
business relationship with its customers is not the placement of funds with depository institutions
(primary purpose exception). The brokered deposits final rule introduced in the FDIC’s
regulation a list of business relationships that are designated as meeting the primary purpose
exception. In February 2021, the FFIEC proposed changes to the Call Reports forms and
instructions consistent with the brokered deposits final rule and proposed conforming
clarifications in the Call Reports Glossary.
To provide clarity for respondents, the Board revised the FR Y-9C Glossary instructions
to incorporate changes under the brokered deposits final rule consistent with the proposed Call
Report revisions. Specifically, the Board reordered the content of the Glossary entries for
“Brokered Deposits” and “Brokered Retail Deposits,” to incorporate the revised content of the
FDIC regulation, and to update a reference to the FDIC insurance limit of $250,000. The Board
has not otherwise revised the FR Y-9C form or instructions in respect to brokered deposits.
SA-CCR Check Box
On January 24, 2020, the agencies issued a final rule 15 (SA-CCR final rule) that amends
the regulatory capital rule to implement a new approach for calculating the exposure amount for
derivatives contracts for purposes of calculating the total risk-weighted assets (RWA), which is
called SA-CCR. The final rule also incorporates SA-CCR into the determination of the exposure
amounts of derivatives for total leverage exposure under the supplementary leverage ratio, and
the cleared transaction framework under the capital rule.
Holding companies that are not advanced approaches banking organizations 16 may elect
to use SA-CCR to calculate standardized total RWA by notifying the Board. 17 Advanced
approaches HCs are required to use SA-CCR to calculate standardized total RWA starting on
January 1, 2022. Advanced approaches HCs may adopt SA-CCR prior to January 1, 2022, but
must notify the Board of their early adoption.18
12

12 CFR 337.6.
86 FR 6742 (January 22, 2021).
14
12 U.S.C. § 1831f(g).
15
85 FR 4362 (January 24, 2021).
16
12 CFR 217.2 (defining Advanced approaches Board-regulated institution).
17
12 CFR 217.34(a)(1)(ii).
18
12 CFR 217.300(h).
13

5

The Board revised the FR Y-9C forms and instructions by adding new line item 31.b,
“Standardized Approach for Counterparty Credit Risk opt-in election.” The Board has added this
new item to identify HCs that have chosen to early adopt or voluntarily elect SA-CCR, which
would allow for enhanced comparability of the reported derivative data and for better
supervision of the implementation of the framework at these holding companies. Due to the
inherent complexity of adopting SA-CCR, this identification is particularly important for nonadvanced approaches institutions that choose to voluntarily adopt SA-CCR.
A non-advanced approaches HC that adopts SA-CCR would enter “1” for “Yes” in line
item 31.b. All other non-advanced approaches HCs would leave this item blank. If a nonadvanced approaches HC has elected to use SA-CCR, the HC may change its election only with
prior approval of the Board. 19 An advanced approaches HC that elects to early adopt SA-CCR
prior to the January 1, 2022, mandatory compliance date would enter “1” for “Yes” in line item
31.b. After January 1, 2022, an advanced approaches HC would leave this item blank. This
reporting change will take effect starting with the December 31, 2021, FR Y-9C report. This item
will no longer be applicable to advanced approaches HCs starting with the March 31, 2022,
report date. There will be no material change in burden to the FR Y-9C report related to this
revision.
Time Schedule for Information Collection
The FR Y-9C and FR Y-9LP are filed quarterly as of the last calendar day of March,
June, September, and December. The filing deadline for the FR Y-9C is 40 calendar days after
the March 31, June 30, and September 30 as of dates and 45 calendar days after the December 31
as of date. The filing deadline for the FR Y-9LP is 45 calendar days after the quarter-end as of
date. The FR Y-9SP is filed semiannually as of the last calendar day of June and December, and
the filing deadline is 45 calendar days after the as of date. The annual FR Y-9ES is collected as
of December 31, and the filing deadline is July 31 of the following year, unless an extension to
file by October 15 is granted. Respondents will be notified of the filing deadline for the
FR Y-9CS if it is utilized by the Board.
If the above submission deadlines for the FR Y-9C, FR Y-9LP, FR Y-9SP, and
FR Y-9ES fall on a weekend or holiday, the reports must be received on the first business day
after the Saturday, Sunday, or holiday. The reports are due by the end of the reporting day on the
submission date (i.e., 5:00 P.M. at each of the Reserve Banks).
Public Availability of Data
Data from the FR Y-9 reports that are not granted confidential treatment as described
below are publicly available on the FFIEC website: https://www.ffiec.gov/NPW.

19

12 CFR 217.34(a)(1)(ii).

6

Legal Status
The reporting and recordkeeping requirements associated with the FR Y-9 series of
reports are authorized for BHCs pursuant to section 5 of the Bank Holding Company Act (BHC
Act) (12 U.S.C. § 1844); for SLHCs pursuant to sections 10(b)(2) and (3) of the Home Owners’
Loan Act (12 U.S.C. §§ 1467a(b)(2) and (3)); for IHCs pursuant to section 5 of the BHC Act, as
well as pursuant to sections 102(a)(1) and 165 of the Dodd-Frank Wall Street Reform and
Consumer Protection Act (Dodd-Frank Act) (12 U.S.C. §§ 5311(a)(1) and 5365);20 and for
securities holding companies pursuant to section 618 of the Dodd-Frank Act (12 U.S.C. §
1850a(c)(1)(A)). Except for the FR Y-9CS report, which is collected on a voluntary basis, the
obligation to submit the remaining reports in the FR Y-9 series of reports and to comply with the
recordkeeping requirements set forth in the respective instructions to each of the other reports is
mandatory.
Certain information collected on the FR Y-9C and FR Y-9SP reports is kept confidential
by the Board. The following items may be kept confidential under exemption 4 of the Freedom
of Information Act (FOIA) because these data items reflect commercial and financial
information that is both customarily and actually treated as private by the respondent (12 U.S.C.
§ 552(b)(4)):
• FR Y-9C, Schedule HI, memoranda item 7(g), ‘‘FDIC deposit insurance assessments,”
• FR Y-9C, Schedule HC-P, item 7(a) “Representation and warranty reserves for 1-4
family residential mortgage loans sold to U.S. government agencies and government
sponsored agencies,”
• FR Y-9C, Schedule HC-P, item 7(b) “Representation and warranty reserves for 1-4
family residential mortgage loans sold to other parties,”
• FR Y-9C, Schedule HC-C, Part I, Memorandum items 16.a and 16.b, for eligible loan
modifications under Section 4013 of the 2020 Coronavirus Aid, Relief, and Economic
Security Act, and
• FR Y-9C, Schedule HC and FR Y-9SP, Schedule SC, Memoranda item 2.b, the name and
email address of the external auditing firm’s engagement partner.21
In some circumstances, disclosing these data items may also reveal confidential
examination and supervisory information protected from disclosure under exemption 8 of the

Section 165(b)(2) of Title I of the Dodd-Frank Act (12 U.S.C. § 5365(b)(2)), refers to “foreign-based bank
holding company.” Section 102(a)(1) of the Dodd-Frank Act (12 U.S.C. § 5311(a)(1)), defines “bank holding
company” for purposes of Title I of the Dodd-Frank Act to include foreign banking organizations that are treated as
bank holding companies under section 8(a) of the International Banking Act of 1978 (12 U.S.C. § 3106(a)). The
Board has required, pursuant to section 165(b)(1)(B)(iv) of the Dodd-Frank Act (12 U.S.C. § 5365(b)(1)(B)(iv)),
certain foreign banking organizations subject to section 165 of the Dodd-Frank Act to form U.S. intermediate
holding companies. Accordingly, the parent foreign-based organization of a U.S. IHC is treated as a BHC for
purposes of the BHC Act and section 165 of the Dodd-Frank Act. Because section 5(c) of the BHC Act authorizes
the Board to require reports from subsidiaries of BHCs, section 5(c) provides additional authority to require U.S.
IHCs to report the information contained in the FR Y-9 series of reports.
21
The Board has assured respondents that this information will be treated as confidential since the collection of this
data item was proposed in 2004, under the assumption that the identity of the engagement partner is treated as
private information by HCs.
20

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FOIA (12 U.S.C. § 552(b)(8)). The Board has previously assured submitters that these data items
will be treated as confidential.
In addition, the Chief Executive Officer Contact Information section of both the FR Y-9C
and FR Y-9SP may be kept confidential pursuant to FOIA exemption 6, which applies to
personnel and medical files the disclosure of which would constitute a clearly unwarranted
invasion of personal privacy (5 U.S.C. § 552(b)(6)), and exemption 8, which applies to
information contained in or related to examination, operating, or condition reports prepared by,
on behalf of, or for the use of an agency responsible for the regulation or supervision of financial
institutions (5 U.S.C. § 552(b)(8)).
Aside from the data items described above, data collected by the FR Y-9 reports
generally are not accorded confidential treatment. As provided in the Board’s Rules Regarding
Availability of Information, 22 however, a respondent may request confidential treatment for any
data items the respondent believes should be withheld pursuant to a FOIA exemption. The Board
will review any such request to determine if confidential treatment is appropriate and will inform
the respondent if the request for confidential treatment has been granted or denied.
To the extent that the instructions to the FR Y-9 reports direct the financial institution to
retain the workpapers and related materials used in preparation of each report, such material
would only be obtained by the Board as part of the examination or supervision of the financial
institution. Accordingly, such information may be considered confidential pursuant to exemption
8 of the FOIA (5 U.S.C. § 552(b)(8)). In addition, the workpapers and related materials may also
be protected by exemption 4 of the FOIA to the extent such financial information is customarily
and actually treated as private by the respondent (5 U.S.C. § 552(b)(4)).
Consultation Outside the Agency
The Board consulted with the FDIC and OCC regarding the revisions on brokered
deposits and SA-CCR check box.
Public Comments
On September 8, 2021, the Board published an initial notice in the Federal Register (86
FR 50354) requesting public comment for 60 days on the extension, with revision, of the
FR Y-9. The comment period for this notice expired on November 8, 2021. The Board did not
receive any comments. The Board adopted the extension, with revision, of the FR Y-9 as
originally proposed. On December 8, 2021, the Board published a final notice in the Federal
Register (86 FR 69645).
Estimate of Respondent Burden
As shown in the table below, the estimated total annual burden for the FR Y-9 reports is
115,022 hours, and would increase to 115,421 hours with the revisions. The Board estimates that
the revisions would increase the average hours per response for FR Y-9C filers by 0.02 hours
22

12 CFR Part 2.

8

and would increase the average hours per response for FR Y-9SP filers by 0.05 hours. These
reporting and recordkeeping requirements represent 1.5 percent of the Board’s total paperwork
burden.

FR Y-9
Current
Reporting
FR Y-9C (non AA HCs) with
less than $5 billion in total
assets
FR Y-9C (non AA HCs) with
$5 billion or more in total
assets
FR Y-9C (AA HCs)
FR Y-9LP
FR Y-9SP
FR Y-9ES
FR Y-9CS
Recordkeeping
FR Y-9C
FR Y-9LP
FR Y-9SP
FR Y-9ES
FR Y-9CS
Current Total
Proposed
Reporting
FR Y-9C (non AA HCs) with
less than $5 billion in total
assets
FR Y-9C (non AA HCs) with
$5 billion or more in total
assets
FR Y-9C (AA HCs)
FR Y-9LP
FR Y-9SP
FR Y-9ES
FR Y-9CS
Recordkeeping

Estimated
number of
respondents23

Estimated
Estimated
Annual
average hours annual burden
frequency
per response
hours

119

4

35.72

17,003

221
9
412
3,708
78
236

4
4
4
2
1
4

44.92
50.14
5.27
5.40
0.50
0.50

39,709
1,805
8,685
40,046
39
472

349
412
3,708
78
236

4
4
2
1
4

1.00
1.00
0.50
0.50
0.50

1,396
1,648
3,708
39
472
115,022

119

4

35.74

17,012

221
9
412
3,708
78
236

4
4
4
2
1
4

44.94
50.16
5.27
5.45
0.50
0.50

39,727
1,806
8,685
40,417
39
472

23

Of these respondents, 4 FR Y-9C (non AA HCs) with less than $5 billion in total assets filers; 31 FR Y-9LP filers;
2,869 FR Y-9SP filers; and 58 FR Y-9ES filers are considered small entities as defined by the Small Business
Administration (i.e., entities with less than $600 million in total assets), https://www.sba.gov/document/support-table-size-standards. The respondent counts are as of December 31, 2020.

9

FR Y-9C
FR Y-9LP
FR Y-9SP
FR Y-9ES
FR Y-9CS

349
412
3,708
78
236

4
4
2
1
4

1.00
1.00
0.50
0.50
0.50

Proposed Total

1,396
1,648
3,708
39
472
115,421

Change

399

The estimated total annual cost to the public for the FR Y-9 reports is $6,803,551, and
would increase to $6,827,152 with the revisions. 24
Sensitive Questions
These collections of information contain no questions of a sensitive nature, as defined by
OMB guidelines.
Estimate of Cost to the Federal Reserve System
The estimated cost to the Federal Reserve System for collecting and processing the
FR Y-9 reports is $2,050,800.

24

Total cost to the public was estimated using the following formula: percent of staff time, multiplied by annual
burden hours, multiplied by hourly rates (30% Office & Administrative Support at $20, 45% Financial Managers at
$73, 15% Lawyers at $72, and 10% Chief Executives at $95). Hourly rates for each occupational group are the
(rounded) mean hourly wages from the Bureau of Labor and Statistics (BLS), Occupational Employment and Wages
May 2020, published March 31, 2021, https://www.bls.gov/news.release/ocwage.t01.htm. Occupations are defined
using the BLS Standard Occupational Classification System, https://www.bls.gov/soc/.

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