FR2886b_20241226_omb

Supporting Statement for the
Consolidated Report of Condition and Income for Edge and Agreement Corporations
(FR 2886b; OMB No. 7100-0086)
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 Consolidated Report of Condition and Income for Edge and Agreement
Corporations (FR 2886b; OMB No. 7100-0086). The FR 2886b reporting form is filed quarterly
or annually by Edge and agreement corporations (collectively, Edges or Edge corporations). 1 The
Board is responsible for authorizing, supervising, and assigning ratings to Edges. The Board and
the Federal Reserve Banks use the data collected by the FR 2886b to supervise Edge
corporations and to monitor and develop a better understanding of Edge activities.
The Board revised the FR 2886b form and instructions to be consistent with adopted
changes to U.S. generally accepted accounting principles (GAAP) related to troubled debt
restructurings (TDRs), provisions for credit losses on off -balance sheet credit exposures, and
expected recoveries of amounts previously charged off included within the allowances for credit
losses. The Board also revised the FR 2886b instructions by (1) specifying when respondents
should submit their reports if the submission deadline falls on a weekend or holiday and
(2) adding a recordkeeping requirement for respondents to maintain a record of the data
submitted for three years. These revisions take effect as of the December 31, 2024, as of date.
The current estimated total annual burden for the FR 2886b is 1,336 hours, and would
increase to 1,432 hours. The revisions would result in an increase of 96 hours. The form and
instructions are available on the Board’s public website at
https://www.federalreserve.gov/apps/reportingforms.
Background and Justification
The FR 2886b collects financial data from Edge corporations, which are supervised by
the Board.2 The Federal Reserve uses the FR 2886b data to help plan and target the scope of
examinations of Edges and to evaluate applications from Edge corporations. Data from the
FR 2886b are also used to monitor aggregate institutional trends, such as growth in assets and the
number of offices, changes in leverage, and the types and locations of customers, and to monitor
and identify present and potential problems with Edge corporations.
1

Edge corporations are corporations authorized for the purpose of engaging in international or foreign banking or
financial operations, which are subject to Federal Reserve supervision. See 12 U.S.C. §§ 611 and 611a. An
agreement corporation is a state-charted corporation in which a bank or bank holding company may purchase stock,
and which has entered into an agreement with the Board that it will not exercise any power that is impermissible for
an Edge corporation. 12 CFR 211.5(g)(1). See also 12 U.S.C. §§ 601(Third) and 603. Note that section 25 of the
Federal Reserve Act (12 U.S.C. § 601-04a), which refers to national banking associations, also applies to state
member banks of the Federal Reserve System under section 9 of the Federal Reserve Act (12 U.S.C. § 321). See 12
CFR 211.1, n.1. Section 25 applies to bank holding companies through section 4(c)(13) of the Bank Holding
Company Act of 1956 (12 U.S.C. § 1843(c)(13)).
2
See Federal Reserve Act section 25A(6) (12 U.S.C. § 615).

Additionally, certain Edges engage in deposit-taking in the United States, and therefore
conduct activities that affect the nation’s money supply. The Federal Reserve uses the FR 2886b
data, in conjunction with data from the Call Reports, in the construction of the monetary
aggregates and aggregate statistics on bank credit, non-deposit funds, and assets and liabilities of
commercial banks. The Federal Reserve also uses data from the FR 2886b in the construction of
the flow of funds accounts and in the compilation of structure data on foreign bank activity. The
information collected by the FR 2886b is not available from other sources.
Description of Information Collection
The FR 2886b comprises a balance sheet, income statement, two schedules reconciling
changes in capital and reserve accounts, and 11 supporting schedules. An Edge corporation that
is engaged in banking3 must file all supporting schedules; other Edges (investment Edge
corporations) must file only four of the 11 supporting schedules. The four supporting schedules
that investment Edge corporations must file are: Schedule RC-D, Trading Assets and Liabilities;
Schedule RC-L, Derivatives and Off-Balance-Sheet Items; Schedule RC-M, Claims on and
Liabilities to Related Organizations; and Schedule RC-N, Past Due and Nonaccrual Loans,
Leases, and Other Assets.
Respondent Panel
The FR 2886b panel comprises all Edge and agreement corporations.
Frequency and Time Schedule
Edge and agreement corporations with total consolidated assets of more than $50 million
file the FR 2886b quarterly as of the last calendar day of March, June, September, and
December. Edges with assets of $50 million or less file annually as of December 31. Edges
should file the FR 2886b within 30 calendar days after the close of business of the last calendar
date of the quarter- or year-end date for annual filers. If necessary, a respondent is permitted to
take an additional 15 calendar days to submit its completed report without requesting an
extension. Respondents are urged to use the additional time only if absolutely necessary.
Proposed Revisions to the FR 2886b
Provisions for Credit Losses on Off-Balance-Sheet Credit Exposures
On June 16, 2016, the Financial Accounting Standards Board (FASB) issued Accounting
Standards Update (ASU) 2016-13, Topic 326, Financial Instruments - Credit Losses (ASU 201613). Within Topic 326, paragraph 326-20-30-11 states, “[a]n entity shall report in net income (as
a credit loss expense) the amount necessary to adjust the liability for credit losses for
management’s current estimate of expected credit losses on off-balance-sheet credit exposures.”
Off-balance-sheet credit exposures include loan commitments, standby letters of credit, and
financial guarantees not accounted for as insurance, and other similar instruments except for
3

An Edge is engaged in banking if it is ordinarily engaged in the business of accepting deposits in the United States
from nonaffiliated persons. 12 CFR 211.2(f).

2

those within the scope of Accounting Standards Codification (ASC) Topic 815 on derivatives
and hedging.
Throughout Topic 326, the FASB refers to provisions for credit losses as “credit loss
expense.” For example, paragraph 326-20-30-1 states, “[a]n entity shall report in net income (as
a credit loss expense) the amount necessary to adjust the allowance for credit losses [(ACL)] for
management’s current estimate of expected credit losses on financial assets(s).” Thus, Topic 326
does not prohibit recording the adjustment to the liability for expected credit losses on off balance-sheet credit exposures within the provisions for credit losses reported in the income
statement.
To align with GAAP, the Board proposes to revise the FR 2886b instructions to direct
Edges to report provisions for expected credit losses on off -balance-sheet credit exposures as
part of the total amount of Edges’ provisions for credit losses in Schedule RI, Income Statement,
item 4.a. The inclusion of provisions for expected credit losses on off -balance-sheet credit
exposures in the provisions for credit losses presented in Schedule RI, item 4.a, would cause a
loss of transparency within the overall reported amount of provisions for credit losses between
provisions attributable to on- and off-balance-sheet credit exposures. To enhance transparency
and differentiate these provisions, the Board proposes adding Memorandum item 3, Provisions
for credit losses on off-balance-sheet credit exposures, to Schedule RI-B, Changes in Allowances
for Credit Losses, which would identify the portion of the overall amount of the provisions for
credit losses reported in Schedule RI, item 4.a, attributable to the provisions for expected credit
losses on off-balance-sheet credit exposures.
In addition, the Board proposes to revise footnote 3 on Schedule RI-B, item 3, Provisions,
of the FR 2886b reporting form to reflect that the sum of item 3, Column A through Column C,
plus Schedule RI-B, Memorandum items 1 and 3 must equal Schedule RI, item 4.a. These
proposed revisions to the FR 2886b would be effective as of December 31, 2024, and would be
consistent with revisions adopted 4 for the Consolidated Financial Statements for Holding
Companies (FR Y-9C, OMB No. 7100-0128).
Expected Recoveries of Amounts Previously Charged Off Included within the Allowances
for Credit Losses
Within Topic 326, paragraph 326-20-30-1 states, “[t]he [ACL] is a valuation account that
is deducted from, or added to, the amortized cost basis of the financial asset(s) to present the net
amount expected to be collected on the financial asset. Expected recoveries of amounts
previously written off and expected to be written off shall be included in the valuation account
and shall not exceed the aggregate of amounts previously written off and expected to be written
off by an entity.” The terms “written off” as used in Topic 326 and “charged off” as used in
FR 2886b instructions are used interchangeably in this discussion.
Under GAAP, before an institution’s adoption of Topic 326, expected recoveries of
amounts previously written off would not be included in the measurement of the allowance for
loan and lease losses; recoveries would be recorded only when received. Under Top ic 326,
4

See 86 FR 92 (January 4, 2021).

3

including expected recoveries of amounts previously written off within allowances for credit
losses reduces the overall amount of these allowances. Amounts related to an individual asset are
written off or charged off when deemed uncollectible. However, un der Topic 326, institutions
can, in some circumstances, reduce the amount of the ACL that would otherwise be calculated
for a pool of assets with similar risk characteristics that includes charged -off assets on the same
day the charge-offs were taken by the estimated amount of expected recoveries of amounts
written off on these assets. Reducing the ACL by amounts of expected recoveries prior to
collection effectively reverses a charge-off.
Therefore, to align with GAAP and to provide transparency for expected recoveries of
amounts with inherently higher risk, the Board proposes to add a new line item, Memorandum
item 4 to Schedule RI-B, Changes in Allowances for Credit Losses, to capture the “Estimated
amount of expected recoveries of amounts previously written off included within the ACL on
loans and leases held for investment (included in item 6, column A, ‘Balance end of current
period,’ above).” This proposed revision to the FR 2886b would be effective as of December 31,
2024, and would be consistent with revisions adopted 5 for the FR Y-9C.
Troubled Debt Restructurings and Vintage Disclosures
On March 31, 2022, the FASB issued ASU 2022-02, “Financial Instruments - Credit
Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures” (ASU 2022-02),
which eliminates the TDR recognition and measurement guidance for entities that have adopted 6
ASU 2016-13. Instead of identifying and accounting for TDRs separately from other loan
modifications, all loans modified from the beginning of the fiscal year in which the standard is
adopted by an Edge would be accounted for in accordance with ASC 310-20-35, “Receivables–
Nonrefundable Fees and Other Costs - Subsequent Measurement,” as amended by ASU 2022-02.
In addition, the new standard enhances financial statement disclosure requirements for certain
loan modifications to borrowers experiencing financial difficulty. These disclosures include
qualitative information regarding how initial modifications and subsequent performance of such
modifications impact the allowance for credit losses.
Under ASU 2022-02, Edges would only include loans that were modified to borrowers
experiencing financial difficulty from the beginning of the fiscal year of adoption and in
subsequent periods in their disclosures for financial statement purposes. TDRs or modifications
made prior to the beginning of the fiscal year of adoption would not be included in these
enhanced financial statement disclosures in the period of adoption or in any subsequent periods.
Additionally, per ASU 2022-02, an Edge would not be required to use a discounted cash flow
(DCF) approach to measure the allowance for credit loss on the modified loans. However, if an
Edge chooses to use a DCF approach, it must use the post-modification expected interest rate to
discount expected cash flows. In addition, per ASC 326-20-35-5, “Investments - Financial
Instruments-Credit Losses - Measured at Amortized Cost - Subsequent Measurement,” modified
loans for which repayment is expected to be provided substantially through the operation or sale
of the collateral when the borrower is experiencing financial difficulty are considered to be
collateral-dependent. For regulatory reporting purposes, the allowance for credit losses for a
5
6

See 86 FR 92 (January 4, 2021).
ASU 2016-13 was effective for all Edges as of December 31, 2023.

4

collateral-dependent loan would continue to be measured using the fair value of collateral (less
cost to sell, when appropriate), regardless of whether foreclosure is probable.
ASU 2022-02 was effective for all Edges as of December 31, 2023, and eliminates the
recognition and measurement accounting guidance for TDRs. In order to promote consistence
with these changes to GAAP, the Board proposes to no longer require Edges to report TDRs on
FR 2886b Schedule RC-N. To be consistent with GAAP recognition and disclosure
requirements, the Board proposes to revise the FR 2886b form and instructions to align with the
definition of loan modifications to borrowers experiencing financial dif ficulty. Specifically, the
Board is proposing to replace, as appropriate, references to “troubled debt restructurings” with
“loan modifications to borrowers experiencing financial difficulty” in the FR 2886b form and
instructions. These changes would enable the Board to better understand the level of loan
modification activity at Edges. The Board would benefit from having reliable data about
modification activity that is captured outside of the on-site examination process. This data would
provide the Board with information to assess the loan quality and performance of modified loans.
The Board proposes to revise the FR 2886b reporting form and instructions as discussed
in detail below:
Schedule RC-N, Past Due and Nonaccrual Loans, Leases, and Other Assets,
Memorandum item 1 - Edges would report detail on loan modifications to borrowers
experiencing financial difficulty in Schedule RC-N, Past Due and Nonaccrual Loans, Leases, and
Other Assets, Memorandum item 1. The modifications reported in Memorandum item 1 would
need to meet the definition of “loan modifications to borrowers experiencing financial difficulty”
as described in ASU 2022-02, which includes only those modifications that have occurred in the
previous 12 months. 7 Loan modifications to borrowers experiencing financial difficulty include
financing receivables that have been modified in the form of principal forgiveness, an interest
rate reduction, an other-than-insignificant payment delay or a term extension, (or a combination
thereof). The FR 2886b form and instructions would be updated to include references to “loan
modifications to borrowers experiencing financial difficulty” and remove references to the TDR
framework.
These proposed new items to the FR 2886b would be effective as of December 31, 2024,
and are consistent with items currently proposed to be added to the FR Y-9C.
Revisions to Submission Deadline and Recordkeeping Requirement
The Board proposes to revise the FR 2886b instructions to specify when respondents
should submit their reports when the submission deadline falls on a weekend or holiday. The
instructions would be revised to state the following, “[i]f the submission deadline falls on a
weekend or holiday, the report must be received on the first business day after the Saturday,
Sunday, or holiday.” The Board also proposes to revise the FR 2886b instructions to require
ASU 2022-02 requires disclosures on modifications to borrowers experiencing financial difficulty made “within
the previous 12 months preceding the payment default when the debtor was experiencing financial difficulty at the
time of the modification”. See ASC 310-10-50-44, “Receivables - Overall - Disclosure - Modifications to Debtors
Experiencing Financial Difficulty.”
7

5

respondents to maintain in their files a physical or electronic copy of the manually signed
submitted report for three years after submission, for reasons discussed in the Legal Status
section, below.
Public Availability of Data
Aggregate data from the FR 2886b report are included in three Board statistical releases:
the weekly H.6 release, Money Stock Measures; the weekly H.8 release, Assets and Liabilities of
Commercial Banks in the United States; and the quarterly Z.1 release, Financial Accounts of the
United States. These statistical releases are available on the Board’s public website:
https://www.federalreserve.gov/data.htm.
Legal Status
For purposes of this section, the term “Edge corporation” does not encompass agreement
corporations. The reporting requirements contained in the FR 2886b are authorized pursuant to
sections 25(7) and 25A(17) of the Federal Reserve Act (12 U.S.C. §§ 601 and 625). Section
25A(17) of the Federal Reserve Act provides that Edge corporations must provide reports to the
Board at such times as the Board may require (12 U.S.C. § 625). Under section 25(7) of the
Federal Reserve Act, banks and bank holding companies investing in agreement corporations
authorized under section 25(1) must, upon demand, furnish the Board with reports of condition
regarding the investing banks or BHCs or the agreement corporations (12 U.S.C. §§ 601 and
602). The Board also typically includes a provision in the agreement for an agreement
corporation that requires the agreement corporation itself to provide reports to the Board upon
the Board’s demand. Such agreements are a condition of approval of the agreement corporation
under section 25(8) of the Federal Reserve Act (12 U.S.C. § 603).
The newly added recordkeeping requirement related to the retention of records is
authorized under sections 25 and 25Aof the Federal Reserve Act. Section 25A(17) of the Federal
Reserve Act requires an Edge corporation to retain copies of all reports that it makes to the
Board (12 U.S.C. § 625). There is no similar provision for agreement corporations. However, in
its agreement with the Board, an agreement corporation typically agrees to do everything
necessary to facilitate the Board’s examinations of the co rporation and to make available to
examiners all information which they may require. As stated, such agreements are authorized
under section 25(8) of the Federal Reserve Act (12 U.S.C. § 603). A requirement to retain copies
of the reports the corporations submit to the Board is consistent with these aspects of the
agreement. The obligation to respond is mandatory.
The Federal Reserve System generally regards Schedule RC-M, Claims on and Liabilities
to Related Organizations (except item 3, the total) as confidential. It also regards Schedule
RC-V, Branch Schedule of Selected Items - Non-Consolidated, as confidential for respondents
engaged in banking. The rest of the information submitted in the form is not considered
confidential, but respondents may request confidential treatment. A respondent’s request for
confidential treatment is itself considered public information.

6

A request for confidential treatment of the portions of the form that are not generally
considered confidential may be granted if the relevant information falls within the scope of an
exemption from the Freedom of Information Act’s (FOIA’s) disclosure requirements. Submitted
information may be exempt from disclosure under exemption 4 of the FOIA (5 U.S.C. §
552(b)(4)). Exemption 4 covers confidential commercial or financial information that is
customarily and actually treated as private by its owner and provided to the government under an
assurance of privacy. 8 To the extent a respondent firm does customarily and actually keep the
information it submits to the Board confidential and the information falls within one of the
schedules the Board has stated that it views as confidential, this information would be exe mpt
from disclosure under exemption 4.
In addition, regardless of whether a respondent requests confidential treatment of the
information submitted, such information may be excluded from disclosure under exemption 8 of
the FOIA (5 U.S.C. § 552(b)(8)). Exemption 8 covers matters 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. As documents
related to Edge corporations’ condition prepared for the use of the Board, an agency responsible
for the regulation and supervision of financial institutions, the information submitted to the
Board in the FR 2886b reporting form would also be exempt from disclosure under exemption 8.
The FR 2886b’s recordkeeping requirements apply to copies of the reports submitted to
the Board. This information will therefore be available to the Board and subject to the
confidentiality analysis described above.
Consultation Outside the Agency
There has been no consultation outside the Federal Reserve System.
Public Comments
On June 7, 2024, the Board published two separate initial notices in the Federal Register
(89 FR 48637 and 89 FR 48644) requesting public comment for 60 days on the extension, with
revision, of the FR Y-9 and FR 2886b. The comment period for both notices expired on August
6, 2024. The Board received one comment letter. After considering the comments received on
the proposal, the Board is proceeding with the revisions to the FR Y-9C, FR Y-9LP, and
FR 2886b as proposed. On November 15, 2024, the Board published a final notice in the Federal
Register (89 FR 90284).
The commenter is supportive of the proposed revisions to align the regulatory reporting
of loan modifications to borrowers experiencing financial difficulty (LMBEFD) on the FR Y-9C,
FR Y-9LP, and FR 2886b in accordance with ASU 2022-02. The commenter noted that, in any
event, the Board should not modify the proposed FR Y-9 revisions to bring the reporting in line
with the outstanding proposal on the Call Reports.9 The commenter urged the Board to
implement ASU 2022-02 across all regulatory reporting forms, including the Consolidated
8
9

See Food Marketing Institute v. Argus Leader Media, 139 S. Ct. 2356, 2364 (2019).
See 89 FR 45046 (May 22, 2024).

7

Reports of Condition and Income (Call Reports) (FFIEC 031, FFIEC 041, and FFIEC 051; OMB
No. 7100-0036). The commenter stated that aligning all regulatory reports with ASU 2022 -02
would align with current practices by banking organizations and would reduce burden by
eliminating the necessity to develop and maintain dual processes.
In response, the Board is proceeding with these revisions as proposed to the FR Y-9C,
FR Y-9LP, and FR 2886b. Additionally, on June 7, 2024, the Board published in the Federal
Register separate initial notices that invited comment for 60 days on the extension, with revision,
of the Financial Statements of U.S. Nonbank Subsidiaries Held by Foreign Banking Organization
(FR Y-7N; OMB No. 7100-0125),10 Financial Statements of Foreign Subsidiaries of U.S.
Banking Organizations (FR 2314; OMB No. 7100-0073),11 and Financial Statements of U.S.
Nonbank Subsidiaries of U.S. Holding Companies (FR Y-11; OMB No. 7100-0244)11 to propose
aligning the reporting of LMBEFD with ASU 2022-02. Additionally, on June 21, 2024, the
Board published in the Federal Register an initial notice that invited comment for 60 days on the
extension, with revision, of the Capital Assessments and Stress Testing Reports
(FR Y-14A/Q/M; OMB No. 7100-0341),12 to also propose aligning the reporting of LMBEFD
with ASU 2022-02. Separate from this notice, the Board will take any comments under
consideration on the FR Y-7N, FR 2314, FR Y-11, and FR Y-14A/Q/M notices to align with
ASU 2022-02, after the comment period has expired.
With regard to aligning the reporting of LMBEFD in accordance with ASU 2022 -02 on
the Call Report, the Office of the Comptroller of the Currency (OCC); Federal Deposit Insurance
Corporation (FDIC); and Board (collectively, the agencies) are continuing to e valuate the
comments on their September 2023 proposal,13 as well, as the comments received on this
proposal. Upon conclusion of their review, the agencies will adopt a standard through a
subsequent Paperwork Reduction Act (PRA) notice with a 30 -day public comment period.
The commenter stated that the FR Y-9C’s definition of LMBEFDs should align with the
U.S. GAAP definition, specifically Accounting Standards Codification (ASC) Subtopic 310 -10
and not scope in any additional modifications. The commenter noted that ASC Subtopic 310 -10
requires disclosure of modifications of receivables to borrowers experiencing financial difficulty
where the modification results in the form of (1) principal forgiveness, (2) an interest rate
reduction, (3) an other-than-insignificant payment delay, or (4) a term extension (or a
combination thereof) to be disclosed for financial reporting purposes. The commenter mentioned
that it would be helpful if the Board would explicitly confirm the definitional alignment with U.S
GAAP and therefore limit the population of LMBEFD for regulatory reporting purposes to those
four modifications. In response to the commenter, the four modifications referenced from ASC
Subtopic 310-10 are explicitly included in the FR Y-9Cs definition of LMBEFD and therefore
limits the population of LMBEFD accordingly.

10

See 89 FR 48641 (June 7, 2024).
See 89 FR 48639 (June 7, 2024).
12
See 89 FR 52042 (June 21, 2024).
13
See 88 FR 66933 (September 28, 2023).
11

8

Other Comments Received
The Board also received comments that were unrelated to the changes in this proposal.
The commenter recommended that the Board should propose and implement changes to the
reporting of loans to nondepository institutions (NDFIs) and nonpurpose margin loans on the
FR Y-9C to be consistent with the recently finalized Call Report proposal.14 The commenter also
recommended that any changes to the definition of ‘Past Due’ should be aligned and
implemented concurrently between the FR Y-9, FR 2886b, and the Call Reports.
In response, the Board may propose and implement revisions to the FR Y-9C related to
the reporting of NDFI loans and nonpurpose margin loans that would be consistent with the
finalized Call Report proposal. Additionally, the Board may also propose changes related to the
definition of “Past Due” in the FR Y-9 and FR 2886b that would be aligned and implemented
concurrent with the Call Reports. Any future changes to the FR Y-9C and FR 2886b related to
the reporting of NDFI loans, nonpurpose margin loans, and the definition of “Past Due” would
be subject to the PRA notice and comment process.
Estimate of Respondent Burden
As shown in the table below, the estimated total annual burden for the FR 2886b is 1,336
hours, and would increase to 1,432 hours with the revisions. The estimated number of quarterly
respondents is based on the number of respondents that submitted data for the June 30, 2023, as
of date, and the estimated number of annual respondents is based on the number of respondents
that submitted data for the December 31, 2022, as of date. These reporting requirements
represent less than 1 percent of the Board’s total paperwork burden.

14

See 89 FR 45046 (May 22, 2024).

9

Estimated
Estimated
number of
annual
respondents15 frequency

FR 2886b

Estimated
Estimated
average hours annual burden
per response
hours

Current
Reporting
Banking
Edge and agreement
corporations (quarterly)
Edge and agreement
corporations (annual)
Investment
Edge and agreement
corporations (quarterly)
Edge and agreement
corporations (annual)

5

4

15.77

315

0

1

15.87

0

20

4

11.81

945

7

1

10.82

76

Current Total

1,336

Proposed
Reporting
Banking
Edge and agreement
corporations (quarterly)
Edge and agreement
corporations (annual)

5

4

16.47

329

0

1

16.57

0

Investment
Edge and agreement
corporations (quarterly)
Edge and agreement
corporations (annual)

20

4

12.51

1,001

7

1

11.52

81

5

4

0.2

4

0

1

0.2

0

20

4

0.2

16

Recordkeeping
Banking
Edge and agreement
corporations (quarterly)
Edge and agreement
corporations (annual)
Investment
Edge and agreement
corporations (quarterly)
15

Of these respondents, 2 Banking quarterly, 6 Investment quarterly, and 7 Investment annual 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.

10

Edge and agreement
corporations (annual)

7

1

0.2

1

Proposed Total

1,432

Change

96

The estimated total annual cost to the public for the FR 2886b is $93,320, and would
increase to $100,025 with the revisions.16
Sensitive Questions
This information collection contains 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 2886b is $3,300 for one-time costs and $95,900 for ongoing costs.

16

Total cost to the responding public is estimated using the following formula: total burden hours, multiplied by the
cost of staffing, where the cost of staffing is calculated as a percent of time for each occupational group multiplied
by the group’s hourly rate and then summed (30% Office & Administrative Support at $23, 45% Financial
Managers at $84, 15% Lawyers at $85, and 10% Chief Executives at $124). Hourly rates for each occupational
group are the (rounded) mean hourly wages from the Bureau of Labor Statistics (BLS), Occupational Employment
and Wages, May 2023, published April 3, 2024, 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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