FRY9_20230919_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 Consolidated Financial Statements for Holding Companies
(FR Y-9C) to eliminate and consolidate certain items from the reporting forms and instructions
for burden-reduction purposes and to correspond with recent revisions to the Federal Financial
Institutions Examination Council (FFIEC) Consolidated Reports of Condition and Income (Call
Reports) (FFIEC 031, FFIEC 041, and FFIEC 051; 7100-0036) related to a statutorily mandated
review.2 Additionally, the Board sought public comment on previously made clarifications to
FR Y-9C reporting instructions related to reporting securitizations conducted by Federal Home
Loan Mortgage Corporation (FHLMC, also known as Freddie Mac). The changes to the
FR Y-9C will take effect as of the September 30, 2023, report date. There are no revisions at this
time for the FR Y-9LP, FR Y-9SP, FR Y-9ES, or FR Y-9CS.
The current estimated total annual burden for the FR Y-9 is 115,052 hours, and would
decrease to 114,489 hours. The revisions would result in a decrease of 563 hours. The FR Y-9
forms and instructions are available on the Board’s public website at
https://www.federalreserve.gov/apps/reportingforms.

1

The following SLHCs 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 (HOLA), for which thrifts
make up less than 5 percent of its consolidated assets and (2) an 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
88 FR 38592 (June 13, 2023).

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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 HCs 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 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.3
The FR Y-9LP, which collects parent company only financial data, must be submitted
quarterly by each HC that files the FR Y-9C, as well as by each of its subsidiary HCs.4 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 organization 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
for a period of three years following submission. In addition, HCs must maintain in their files a
manually signed and attested printout of the data submitted under each form for a period of three
years.
The FR Y-9CS is a voluntary, free-form supplemental report that the Board may utilize to
collect critical additional data deemed to be needed from HCs in an expedited manner. The
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.
4
A top-tier HC may submit a separate FR Y-9LP on behalf of each of its lower-tier HCs.
3

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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 generally accepted
accounting principles (GAAP) 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.5
Respondent Panel
The FR Y-9 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 each of its subsidiary HCs; the FR Y-9SP panel comprises HCs
with total consolidated assets of less than $3 billion;6 the FR Y-9ES panel comprises each ESOP
that is also an HC; and the FR Y-9CS panel consists of any HC the Board selects.7 Most small
HCs file the streamlined parent only FR Y-9SP report semiannually.
Frequency and Time Schedule
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).

5

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.
6
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 an exemption under section 4(d) of the Bank Holding Company Act of
1956 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.
7
The Reserve Bank with whom a reporting HC files its reports may require that an 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, is required to file a complete FR Y-9C and FR Y-9LP report, and generally would not be permitted to
revert 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.

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Proposed Revisions to the FR Y-9C
Revisions Related to the Call Report Statutorily Mandated Review
Section 604 of the Financial Services Regulatory Relief Act of 2006 requires the Board,
Office of the Comptroller of the Currency (OCC), and Federal Deposit Insurance Corporation
(FDIC) (the agencies) to perform, within one year of enactment and every five years thereafter, a
review of information collected in the Call Reports (statutorily mandated review) to “reduce or
eliminate any requirement to file information or schedules […] (other than information or
schedules that are otherwise required by law)” if the agencies determine that “the continued
collection of such information or schedules is no longer necessary or appropriate.”8 The agencies
conducted the 2022 statutorily mandated review between June 2021 and March 2022. Over this
period, staff at the FFIEC member entities who are users of Call Report data, representing a wide
variety of functional areas, participated in a series of three surveys and conducted an analysis of
recent reporting by Call Report respondents. As an integral part of these surveys, users were
asked to explain the need for the continued collection of each Call Report data item, how the data
item is used, the frequency with which it is needed, and the threshold for the population of
institutions by asset size from which it is needed. During the recent statutorily mandated review,
the agencies identified that the continued collection of certain line items may no longer be
necessary and proposed to remove these items from the Call Reports. The Board revised the
corresponding items from the FR Y-9C as discussed in detail below.
A. FDIC Loss-sharing Agreements Items - FDIC loss-sharing agreements indemnify
institutions for certain losses incurred on specified assets acquired from failed insured
depository institutions or otherwise purchased from the FDIC that are covered by such
agreements. Under a loss-sharing agreement, the FDIC agrees to absorb a portion of the
losses on a specified pool of a failed insured depository institution’s assets in order to
maximize asset recoveries and minimize the FDIC’s losses. The number of institutions
reporting on the related items has decreased as loans, other real estate, and other assets
covered by prior loss-sharing agreements with the FDIC have largely been paid-off or
sold, or the timeframes associated with the loss-sharing agreements have expired and
been terminated. Therefore, the Board no longer considers the current level of detail on
these agreements to be appropriate and revised the following associated line items to be
consistent with proposed changes to the Call Reports:
1. Remove Schedule HC-M, Memoranda, line item 6, “Assets covered by losssharing agreements with the FDIC,” including each subitem 6.a.(1)(a)(1) through 6.d.
These items include, for each appropriate class of asset, the balance sheet carrying
amount of all assets acquired from failed insured depository institutions or otherwise
purchased from the FDIC that are covered by loss-sharing agreements.
2. Remove Schedule HC-N, Past Due and Nonaccrual Loans, Leases, and Other
Assets, line item 12, “Loans and leases reported in items 1 through 8 above that are
covered by loss-sharing agreements with the FDIC,” including each subitem
12.a.(1)(a) through 12.f. Items 12.a.(1)(a) through 12.e include the amount of all
8

12 U.S.C. § 1817(a)(11).

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loans and leases covered by FDIC loss-sharing agreements that are past due 30 days
or more or are in nonaccrual status as of the report date. Item 12.f includes the
associated maximum amount recoverable from the FDIC, beyond the amount
reflected in the loss sharing indemnification assets.
B. Noncash Income from Negative Amortization Loans - Negative amortization loans
contractually permit a borrower to make minimum periodic payments that are less than
the full amount of interest owed to the lender, with the unpaid interest added to the loan’s
principal balance. For consistency with the Call Reports, the Board is revised one line
item related to negative amortization loans. The Board revised this based on the decline
in volume of institutions’ reporting of noncash income on negative amortization loans
secured by 1-4 family residential properties to a level no longer deemed necessary to
collect. The Board would be able to continue monitoring the level of activity on negative
amortization loans by reviewing the data reported on Schedule HC-C, Memorandum
items 6.a through 6.c. Specifically, the proposal will:
1. Remove Schedule HI, Income Statement, Memorandum item M.16, “Noncash
income from negative amortization on closed-end loans secured by 1-4 family
residential properties.”
Federal Home Loan Mortgage Corporation Securitization Structures
The FHLMC may acquire and securitize guaranteed bonds that are issued by third party
trusts and backed by multifamily loans through a variety of structures, such as “K-Deals” and
“Q-Deals”. The June 2022 FR Y-9C report instruction book update and Supplemental
Instructions included a technical clarification, indicating that structured financial products that
are guaranteed by the U.S. government agencies such as K-Deals and Q-Deals issued by
FHLMC are to be reported in Schedule HC-B, Securities, item 5.b, “Structured financial
products.” The Board made this technical clarification to promote consistent reporting treatment
after receiving several inquiries on where to report these products. The Board viewed item 5.b as
the most appropriate location to report these products consistent with the pre-existing
instructions. However, the Board subsequently received additional inquiries about reporting
FHLMC K-Deals and Q-Deals in Schedule HC-B, including whether to report the related
certificates in Schedule HC-B, item 4, “Mortgage-backed securities (MBS).” Therefore, the
proposal sought additional comment on the previous reporting clarification related to FHLMC
securitizations.
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.

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Legal Status
The reporting and recordkeeping requirements associated with the FR Y-9 are authorized
for BHCs pursuant to section 5 of the Bank Holding Company Act of 1956 (BHC Act)
(12 U.S.C. § 1844); for SLHCs pursuant to section 10(b)(2) and (3) of the HOLA (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 and Consumer Protection Act (DoddFrank Act) (12 U.S.C. §§ 5311(a)(1) and 5365);9 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 are 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.10
In some circumstances, disclosing these data items may also reveal confidential examination and
supervisory information protected from disclosure under exemption 8 of the FOIA (12 U.S.C. §
552(b)(8)). The Board has previously assured submitters that these data items will be treated as
confidential.

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.
10
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.
9

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In addition, the Chief Executive Officer Contact Information section of both the FR Y-9C
and FR Y-9SP is 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. However, as provided in the Board’s Rules
Regarding Availability of Information,11 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 is 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 OCC and FDIC regarding the proposed revisions.
Public Comments
On March 28, 2023, the Board published an initial notice in the Federal Register (88 FR
18315) requesting public comment for 60 days on the extension, with revision, of the FR Y-9.
The comment period for this notice expired on May 30, 2023. The Board received one comment
on the March notice. The Board adopted the proposed revisions to the FR Y-9, with the
modifications discussed below. On August 18, 2023, the Board published a final notice in the
Federal Register (88 FR 56624).
Statutorily Mandated Review
The Board received one comment. The commenter generally supported the removal of
items no longer necessary in connection with the statutorily mandated review.
After further deliberation and recent loss-share transactions established by the FDIC, the
Board decided to retain and redesignate certain items related to FDIC loss-sharing agreements.
These FR Y-9C items are being retained to stay aligned with corresponding revisions on the Call

11

12 CFR Part 261.

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Report. These items are also necessary at the holding company level in order to monitor the
safety and soundness of respondents. On the FR Y-9C, the retained items are:
• Schedule HC-M, item 6.b.(7), “Portion of covered other real estate owned included in
items 6.b.(1) through 6.b.(6) above that is protected by FDIC loss-sharing agreements.”
This item would be redesignated as item 6 and reflect the total of other real estate owned
that is protected by FDIC loss-sharing arrangements. The Board still would discontinue
all other subitems of item 6, including subitems 6.b.(1) through 6.b.(6), 6.c and 6.d, as
this information is not necessary for deposit insurance assessment or other purposes.
• Schedule HC-N, item 12.f, “Portion of covered loans and leases included in items 12.a
through 12.e above that is protected by FDIC loss-sharing agreements” (Columns A, B,
and C). This item would be redesignated as item 12 and reflect the total of loans and
leases protected by FDIC loss-sharing arrangements. The Board would discontinue
subitems 12.a through 12.e, as this information is not necessary for deposit insurance
assessment or other purposes.
Clarification of Reporting Certain Securitizations
In the March 2023 notice, the Board requested comment on a previous reporting
clarification pertaining to certain Federal Home Loan Mortgage Corporation and similar
securitization structures that have government guarantees in the FR Y-9C. In the June 2022
FR Y-9C report instructions book update and Supplemental Instructions, the Board included a
technical clarification that these securitizations should be reported in Schedule HC-B, Securities,
item 5.b, “Structured financial products.”
One comment was received on this clarification. The commenter supported reporting
these securities in item 5.b. However, the commenter also noted the lack of transparency in this
item regarding the proportion of securities with government guarantees. The commenter
suggested that a subcategory be added to item 5.b to report the amount that was guaranteed by
the U.S. government or an agency. The Board will consider whether to propose the addition of
the suggested item as part of a future proposal.
Other Comments Received
The commenter also made one suggestion for a modification to the FR Y-9C that was not
specifically related to any of the proposed changes.
Specifically, the commenter suggested that the Board provide clarification on how long
an institution would continue to report a loan subsequent to its modification that met the criteria
in Accounting Standards Update 2022-02, “Financial Instruments - Credit Losses (Topic 326):
Troubled Debt Restructurings and Vintage Disclosures” (ASU 2022-02) in the FR Y-9C. The
Board is considering whether to propose revisions to the FR Y-9C in response to ASU 2022-02,
and would take this comment into account when formulating such a proposal. This proposal
would follow the standard notice and comment process pursuant to the PRA.

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Estimate of Respondent Burden
As shown in the table below, the estimated total annual burden for the FR Y-9 is 115,052
hours, and would decrease to 114,489 hours with the revisions. These reporting and
recordkeeping requirements represent 1.7 percent of the Board’s total paperwork burden.

FR Y-9
Current
Reporting
FR Y-9C (non AA13 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

Estimated
Estimated
Estimated
number of
annual
average hours
respondents12 frequency per response

Estimated
annual burden
hours

107

4

35.74

15,297

236
9
411
3,596
73
236

4
4
4
2
1
4

44.94
50.16
5.27
5.45
0.50
0.50

42,423
1,806
8,664
39,196
37
472

352
411
3,596
73
236

4
4
2
1
4

1.00
1.00
0.50
0.50
0.50

1,408
1,644
3,596
37
472
115,052

107

4

35.34

15,126

12

Of these respondents, 5 FR Y-9C (non AA HCs) with less than $5 billion in total assets filers; 212 FR Y-9LP
filers; 3,492 FR Y-9SP filers; and 73 FR Y-9ES filers are considered small entities as defined by the Small Business
Administration (i.e., entities with less than $850 million in total assets). Size standards effective March 17, 2023.
See https://www.sba.gov/document/support-table-size-standards. There are no accommodations given to mitigate
the burden on small entities. The respondent counts are as of December 31, 2021.
13
A holding company that is subject to the advanced approaches capital rule (i.e., an advanced approaches
institution as defined in the Board’s capital rules) is (i) a global systemically important bank holding company, as
identified pursuant to 12 CFR 217.402, (ii) a Category II institution, (iii) a subsidiary of a holding company that uses
the advanced approaches pursuant to 12 CFR Part 217 (Board) to calculate its risk-based capital requirements, or
(iv) a holding company that elects to use the advanced approaches to calculate its risk-based capital requirements.
Category II institutions include institutions with (1) at least $700 billion in total consolidated assets or (2) at least
$75 billion in cross-jurisdictional activity and at least $100 billion in total consolidated assets. In addition,
depository institution subsidiaries of Category II institutions are considered Category II institutions.

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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
Proposed Total

236
9
411
3,596
73
236

4
4
4
2
1
4

44.54
49.76
5.27
5.45
0.50
0.50

42,046
1,791
8,664
39,196
37
472

352
411
3,596
73
236

4
4
2
1
4

1.00
1.00
0.50
0.50
0.50

1,408
1,644
3,596
37
472
114,489

Change

( 563)

The estimated total annual cost to the public for the FR Y-9 is $7,622,195, and would
decrease to $7,584,896 with the revisions.14
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 $1,922,439.

14

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 $22, 45% Financial Managers at
$80, 15% Lawyers at $79, and 10% Chief Executives at $118). Hourly rates for each occupational group are the
(rounded) mean hourly wages from the Bureau of Labor Statistics (BLS), Occupational Employment and Wages,
May 2022, published April 25, 2023, 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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