BOAR D O F GOVERNOR S O F TH E FEDERA L RESERV E SYSTE M 

WASHINGTON , D C 2055 1 

May 8, 2013 

Mr. Jeffrey S. Bornstein 

Senior Vice President 

and Chief Financial Officer 

General Electric Capital Corporation 

901 Main Avenue 

Norwalk, Connecticut 06851 

Dear Mr. Bornstein: 

This is in response to your letter dated March 6, 2013, requesting that 

General Electric Capital Corporation ("GECC"), Norwalk, Connecticut, be granted 

certain exemptions from the Board's regulatory reporting requirements for savings and 

loan holding companies ("SLHCs"). 

Specifically, you request approval (i) to delay for two quarters the required 

filing of the quarterly FR Y-l 1 and FR 2314 reports; (ii) to delay for one quarter the 

required filing of the FR Y-10 reports with respect to GECC's nondepository subsidiaries 

subject to annual FR Y-l 1 or FR 2314 reporting ("Annual Companies"); and (iii) to delay 

for up to two quarters the required filing of the FR Y-10 reports with respcct to GECC's 

nondepository subsidiaries not subject to FR Y-l 1 or FR 2314 reporting. 

Based on all the facts of record, the Director of the Division of Banking 

Supervision and Regulation, acting pursuant to authority delegated by the Board, and 

after consulting with the General Counsel, has determined that it is appropriate to grant a 

GECC a partial exemption from the Board's regulatory reporting requirements. GECC 

will be exempt from filing quarterly FR Y-l 1 and FR 2314 reports until the June 30, 

2013, reporting period. In addition, GECC may submit quarterly FR Y-l 1 and FR 2314 

reports for the June 30 period on a best-efforts basis, and these reports will be granted 

confidential treatment. GECC is expected to be in full compliance with quarterly 

FR Y-l 1 and FR 2314 filing requirements for the September 30, 2013, reporting period. 

Reporting deadlines with respect to other SLHC regulatory reports will not change. 

[Footnote 1. The other reports and their reporting deadlines are outlined in the Board's final notice 

on SLHC financial reports. See Agency Information Collection Activities Regarding 

Savings and Loan Companies, 76 Federal Register 81,933 (December 29, 2011). End footnote.] 

www.fedcralreserve.gov 
Board and Reserve Bank staff believe that a one-quarter extension FR of time for GECC to begin filing quarterly number Y-l 1 and FR 2314 reports is appropriate given the large of such quarterly reports that GECC will be required tomodifying file and the progress GECC indicates it has made to date in its accounting and reporting systems.GECC's requests fo extensions of time in which to begin filing FRY-10 reports have not been granted.[Footnote 2. GECC also recommended SLHCs that the Board establish an exemption for from FR Y-10 reporting requirements to parallel the existing Y-10 reporting exemption for certain interests inunder foreign companies held by bank holding companies (BHCs) the authority of Regulation K. Board and Reserve Bank staff expect that few SLHCs would have investments of this type, and that none will have investments made under Regulation K authority. Staff will be mindful of GECC's suggestion as SLHCs begin be to file Y-10 reports, however, and believes the Board will better able to evaluate the merits of GECC's recommendation asby the Board reviews the Y-10 data reported SLHCs over time.End footnote.]GECC is not required to bein filing nondepository Y-lOs for Annual Companies until October 30, and for other subsidiaries until January 30, 2014. GECC's request does not explain GECC's need for additional time in which to begin filing Y-10 reports for these categories of companies. IfSenior you have any questions, please contact Caroline Frawley, Vice President at 212-720-1215 at the Sincerely Federal yours, Reerve Bank of New York. 

(Signed Deputy by) Margarer McCloskey Shanks Secretary of the Board 

cc: Caroline T. Frawley, Senior Vice President 

Federal Reserve Bank of New York