90284 Federal Register / Vol. 89, No. 221 / Friday, November 15, 2024 / Notices 

holidays. For security reasons, the 

Board requires that visitors make an 

appointment to inspect comments. You 

may do so by calling (202) 452–3684. 

Upon arrival, visitors will be required to 

present valid government-issued photo 

identification and to submit to security 

screening in order to inspect and 

photocopy comments. 

Additionally, commenters may send a 

copy of their comments to the Office of 

Management and Budget (OMB) Desk 

Officer for the Federal Reserve Board, 

Office of Information and Regulatory 

Affairs, Office of Management and 

Budget, New Executive Office Building, 

Room 10235, 725 17th Street NW, 

Washington, DC 20503, or by fax to 

(202) 395–6974. 

FOR FURTHER INFORMATION CONTACT: 

Federal Reserve Board Clearance 

Officer—Nuha Elmaghrabi—Office of 

the Chief Data Officer, Board of 

Governors of the Federal Reserve 

System, nuha.elmaghrabi@frb.gov, (202) 

452–3884. 

SUPPLEMENTARY INFORMATION: On June 

15, 1984, OMB delegated to the Board 

authority under the Paperwork 

Reduction Act (PRA) to approve and 

assign OMB control numbers to 

collections of information conducted or 

sponsored by the Board. In exercising 

this delegated authority, the Board is 

directed to take every reasonable step to 

solicit comment. In determining 

whether to approve a collection of 

information, the Board will consider all 

comments received from the public and 

other agencies. 

During the comment period for this 

proposal, a copy of the proposed PRA 

OMB submission, including the draft 

reporting form and instructions, 

supporting statement (which contains 

more detail about the information 

collection and burden estimates than 

this notice), and other documentation, 

will be made available on the Board’s 

public website at https://www.federal

reserve.gov/apps/reportingforms/review 

or may be requested from the agency 

clearance officer, whose name appears 

above. On the page displayed at the link 

above, you can find the supporting 

information by referencing the 

collection identifier, FR W. Final 

versions of these documents will be 

made available at https://

www.reginfo.gov/public/do/PRAMain, if 

approved. 

Request for Comment on Information 

Collection Proposal 

The Board invites public comment on 

the following information collection, 

which is being reviewed under 

authority delegated by the OMB under 

the PRA. Comments are invited on the 

following: 

a. Whether the proposed collection of 

information is necessary for the proper 

performance of the Board’s functions, 

including whether the information has 

practical utility; 

b. The accuracy of the Board’s 

estimate of the burden of the proposed 

information collection, including the 

validity of the methodology and 

assumptions used; 

c. Ways to enhance the quality, 

utility, and clarity of the information to 

be collected; 

d. Ways to minimize the burden of 

information collection on respondents, 

including through the use of automated 

collection techniques or other forms of 

information technology; and 

e. Estimates of capital or startup costs 

and costs of operation, maintenance, 

and purchase of services to provide 

information. 

At the end of the comment period, the 

comments and recommendations 

received will be analyzed to determine 

the extent to which the Board should 

modify the proposal. 

Proposal Under OMB Delegated 

Authority To Extend for Three Years, 

Without Revision, the Following 

Information Collection 

Collection title: Reporting and 

Recordkeeping Requirements 

Associated with Regulation W. 

Collection identifier: FR W. 

OMB control number: 7100–0304. 

General description of collection: The 

FR W information collection comprises 

the reporting requirements of Regulation 

W that are found in sections 

223.15(b)(4), 223.31(d)(4), 223.41(d)(2), 

and 223.43(b) and the recordkeeping 

requirements found in sections 

223.42(f)(6) and 223.42(g)(3). This 

information is used to demonstrate 

compliance with sections 23A and 23B 

of the Federal Reserve Act (FRA) and to 

request certain exemptions from the 

Board. Sections 23A and 23B of the FRA 

are designed to protect a depository 

institution from exposure arising from 

certain transactions with affiliates. They 

also limit the ability of an insured 

depository institution to transfer the 

subsidy arising from access to the 

federal safety net to such affiliates. 

Regulation W implements sections 23A 

and 23B by defining terms used in the 

statute, explaining the statute’s 

requirements, and exempting certain 

transactions. The regulation includes 

provisions requiring the reporting of 

information to the Board under certain 

circumstances, to determine whether a 

depository institution is complying with 

sections 23A and 23B of the FRA and 

Regulation W and whether a proposed 

transaction is financially sound and 

consistent with the public interest. 

Frequency: Event generated. 

Respondents: Insured depository 

institutions and uninsured member 

banks. 

Total estimated number of 

respondents: 2. 

Total estimated annual burden hours: 

56. 

Board of Governors of the Federal Reserve 

System, November 12, 2024. 

Benjamin W. McDonough, 

Deputy Secretary and Ombuds of the Board. 

[FR Doc. 2024–26706 Filed 11–14–24; 8:45 am] 

BILLING CODE 6210–01–P 

FEDERAL RESERVE SYSTEM 

Agency Information Collection 

Activities: Announcement of Board 

Approval Under Delegated Authority 

and Submission to OMB 

AGENCY: Board of Governors of the 

Federal Reserve System. 

SUMMARY: The Board of Governors of the 

Federal Reserve System (Board) is 

adopting a proposal to extend for three 

years, with revison the Financial 

Statements for Holding Companies (FR 

Y–9 reports; OMB No. 7100–0128) and 

Consolidated Report of Condition and 

Income for Edge and Agreement 

Corporations (FR 2886b; OMB No. 

7100–0086). 

DATES: The revisions are effective 

December 31, 2024. 

FOR FURTHER INFORMATION CONTACT: 

Federal Reserve Board Clearance 

Officer—Nuha Elmaghrabi—Office of 

the Chief Data Officer, Board of 

Governors of the Federal Reserve 

System, nuha.elmaghrabi@frb.gov, (202) 

452–3884. 

Office of Management and Budget 

(OMB) Desk Officer for the Federal 

Reserve Board, Office of Information 

and Regulatory Affairs, Office of 

Management and Budget, New 

Executive Office Building, Room 10235, 

725 17th Street NW, Washington, DC 

20503, or by fax to (202) 395–6974. 

SUPPLEMENTARY INFORMATION: On June 

15, 1984, OMB delegated to the Board 

authority under the Paperwork 

Reduction Act (PRA) to approve and 

assign OMB control numbers to 

collections of information conducted or 

sponsored by the Board. Boardapproved collections of information are 

incorporated into the official OMB 

inventory of currently approved 

collections of information. The OMB 

inventory, as well as copies of the PRA 

Submission, supporting statements 


khammond on DSKJM1Z7X2PROD with NOTICES
Federal Register / Vol. 89, No. 221 / Friday, November 15, 2024 / Notices 90285 

(which contain more detailed 

information about the information 

collections and burden estimates than 

this notice), and approved collection of 

information instrument(s) are available 

at https://www.reginfo.gov/public/do/ 

PRAMain. These documents are also 

available on the Federal Reserve Board’s 

public website at https://www.federal

reserve.gov/apps/reportingforms/home/ 

review or may be requested from the 

agency clearance officer, whose name 

appears above. On the page displayed at 

the link above, you can find the 

supporting information by referencing 

the collection identifiers, FR Y–9C, FR 

Y–9LP, FR Y–9SP, FR Y–9ES, FR Y– 

9CS, and FR 2886b. 

Final Approval Under OMB Delegated 

Authority of the Extension for Three 

Years, With Revision, of the Following 

Information Collections 

Collection title: Financial Statements 

for Holding Companies. 

Collection identifier: FR Y–9C, FR Y– 

9LP, FR Y–9SP, FR Y–9ES, and FR Y– 

9CS. 

OMB control number: 7100–0128. 

General description of collection: The 

Board requires bank holding companies, 

most savings and loan holding 

companies, securities holding 

companies, and U.S. intermediate 

holding companies (collectively, HCs) to 

provide standardized financial 

statements through one or more of the 

FR Y–9 reports. 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 Consolidated Financial 

Statements for Holding Companies (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. 

The Parent Company Only Financial 

Statements for Large Holding 

Companies (FR Y–9LP), must be 

submitted quarterly by each HC that 

files the FR Y–9C, as well as by each of 

its subsidiary HCs. 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 Parent Company Only Financial 

Statements for Small Holding 

Companies (FR Y–9SP), is 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 Financial Statements for 

Employee Stock Ownership Plan 

Holding Companies (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 Supplement to the Consolidated 

Financial Statements for Holding 

Companies (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 

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 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. 

Frequency: Quarterly, semiannual, 

annual, and as needed. 

Respondents: HCs. 

Total estimated number of 

respondents: 

Reporting: FR Y–9C (non-advanced 

approaches holding companies with less 

than $5 billion in total assets): 107; FR 

Y–9C (non-advanced approaches 

holding companies with $5 billion or 

more in total assets): 236; FR Y–9C 

(advanced approaches holding 

companies): 9; FR Y–9LP: 411; FR Y– 

9SP: 3,596; FR Y–9ES: 73; FR Y–9CS: 

236. 

Recordkeeping: FR Y–9C: 352; FR Y– 

9LP: 411; FR Y–9SP: 3,596; FR Y–9ES: 

73; FR Y–9CS: 236. 

Estimated average hours per response: 

Reporting: FR Y–9C (non-advanced 

approaches holding companies with less 

than $5 billion in total assets): 35.34; FR 

Y–9C (non-advanced approaches 

holding companies with $5 billion or 

more in total assets): 44.54; FR Y–9C 

(advanced approaches holding 

companies): 49.76; FR Y–9LP: 5.27; FR 

Y–9SP: 5.45; FR Y–9ES: 0.50; FR Y– 

9CS: 0.50. 

Recordkeeping: FR Y–9C: 1; FR Y– 

9LP: 1; FR Y–9SP: 0.50; FR Y–9ES: 0.50; 

FR Y–9CS: 0.50. 

Total estimated change in burden: 0. 

Total estimated annual burden hours: 

114,489. 

Collection title: Consolidated Report 

of Condition and Income for Edge and 

Agreement Corporations. 

Collection identifier: FR 2886b. 

OMB control number: 7100–0086. 

General description of collection: The 

FR 2886b reporting form is filed 

quarterly or annually by Edge and 

agreement corporations (collectively, 

Edges or Edge corporations). 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. 

Frequency: Quarterly and annually. 

Respondents: Edge and agreement 

corporations. 

Total estimated number of 

respondents: 

Reporting: Edge and agreement 

corporations (quarterly): 25; Edge and 

agreement corporations (annual): 7. 

Recordkeeping: Edge and agreement 

corporations (quarterly): 25; Edge and 

agreement corporations (annual): 7. 

Estimated average hours per response: 

Reporting: Edge and agreement 

corporations (quarterly): 16.47; Edge 

and agreement corporations (annual): 

16.57. 

Recordkeeping: Edge and agreement 

corporations (quarterly): 12.51; Edge 

and agreement corporations (annual): 

11.52. 

Total estimated change in burden: 96. 

Total estimated annual burden hours: 

1,432. 

Current actions: On June 7, 2024, the 

Board published two separate initial 

notices in the Federal Register (89 FR 

48637 and 89 FR 48655) requesting 


khammond on DSKJM1Z7X2PROD with NOTICES
90286 Federal Register / Vol. 89, No. 221 / Friday, November 15, 2024 / Notices 

1See 89 FR 45046 (May 22, 2024). 

2See 89 FR 48641 (June 7, 2024). 

3See 89 FR 48639 (June 7, 2024). 

4See 89 FR 52042 (June 21, 2024). 

5See 88 FR 66933 (September 28, 2023). 

6See 89 FR 45046 (May 22, 2024). 

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, and 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. 

Detailed Discussion of Public 

Comments 

1. ASU 2022–02, ‘‘Financial 

Instruments-Credit Losses (Topic): 

Troubled Debt Restructurings and 

Vintage Disclosures’’ 

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.1 The commenter urged 

the Board to implement ASU 2022–02 

across all regulatory reporting forms, 

including the Consolidated Reports of 

Condition and Income (Call Reports) 

(FFIEC 031, FFIEC 041, and FFIEC 051). 

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),2 Financial 

Statements of Foreign Subsidiaries of 

U.S. Banking Organizations (FR 2314),3

and Financial Statements of U.S. 

Nonbank Subsidiaries of U.S. Holding 

Companies (FR Y–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),4 to also propose 

aligning the reporting of LMBEFD with 

ASU 2022–02. Separate from this notice, 

the Board may also finalize 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), Treasury; Federal Deposit 

Insurance Corporation (FDIC); and 

Board (collectively, the agencies) are 

continuing to evaluate the comments on 

their September 2023 proposal,5 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 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-thaninsignificant 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. 

2. Other Comments Received 

The Board also received comments 

that were not specifically related to the 

proposed 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.6 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. 

Board of Governors of the Federal Reserve 

System, November 12, 2024. 

Benjamin W. McDonough, 

Deputy Secretary and Ombuds of the Board. 

[FR Doc. 2024–26707 Filed 11–14–24; 8:45 am] 

BILLING CODE 6210–01–P 

FEDERAL RESERVE SYSTEM 

Agency Information Collection 

Activities: Announcement of Board 

Approval Under Delegated Authority 

and Submission to OMB 

AGENCY: Board of Governors of the 

Federal Reserve System. 

SUMMARY: The Board of Governors of the 

Federal Reserve System (Board) is 

adopting a proposal to extend for three 

years, with revision, the Treasury 

Securities and Agency Debt and 

Mortgage-Backed Securities Reporting 

Requirements (FR 2956; OMB No. 7100– 

0383). 

DATES: The revisions are effective 

December 16, 2024. 

FOR FURTHER INFORMATION CONTACT: 

Federal Reserve Board Clearance 

Officer—Nuha Elmaghrabi—Office of 

the Chief Data Officer, Board of 

Governors of the Federal Reserve 

System, nuha.elmaghrabi@frb.gov, (202) 

452–3884. 

Office of Management and Budget 

(OMB) Desk Officer for the Federal 

Reserve Board, Office of Information 

and Regulatory Affairs, Office of 

Management and Budget, New 

Executive Office Building, Room 10235, 

725 17th Street NW, Washington, DC 

20503, or by fax to (202) 395–6974. 

SUPPLEMENTARY INFORMATION: On June 

15, 1984, OMB delegated to the Board 

authority under the Paperwork 

Reduction Act (PRA) to approve and 

assign OMB control numbers to 


khammond on DSKJM1Z7X2PROD with NOTICES