Financial Statements for Employee Stock Ownership Plan Bank Holding Companies

INSTRUCTIONS FOR PREPARATION OF

Financial Statements for Employee Stock
Ownership Plan Bank Holding Companies
For the purpose of this report, savings and loan holding companies are subject to the same
reporting requirements as bank holding companies, unless otherwise noted in these
instructions. All references to ‘‘bank holding company(ies)’’ are inclusive of ‘‘savings and
loan holding company(ies)’’ unless otherwise noted.1

Who Must Report
A. Reporting Criteria
The Financial Statements for Employee Stock Ownership
Plan Bank Holding Companies (FR Y-9ES) must be
filed by all employee stock ownership plans
(ESOPs) that are also bank holding companies as of
the last calendar day1of the calendar year.2 ESOP bank
holding companies should file the FR Y-9ES; no other
FR Y-9 series form is required. However, bank holding
companies that are subsidiaries of ESOP bank holding
companies (i.e., a tiered bank holding company) must
submit (a) the Consolidated Financial Statements for Bank
Holding Companies—FR Y-9C, (b) the Parent Company
Only Financial Statements for Large Bank Holding
Companies—FR Y-9LP or (c) the Parent Company Only
Financial Statements for Small Bank Holding
Companies—FR Y-9SP in accordance with the appropriate reporting requirements.
The instructions for the FR Y-9C, FR Y-9LP, and
FR Y-9SP are not included in this booklet but may be
obtained from the district Federal Reserve Bank or from
the ‘‘Reporting Forms’’ section of the Federal Reserve
Board’s public website (www.federalreserve.gov).

1. Savings and loan holding companies (SLHCs) do not include any
trust (other than a pension, profit-sharing, stockholders’ voting, or business
trust) which controls a savings association if such trust by its terms must
terminate within 25 years or not later than 21 years and 10 months after the
death of individuals living on the effective date of the trust, and (a) was in
existence and in control of a savings association on June 26, 1967, or, (b) is
a testamentary trust. See Section 238.2 of the interim final rule of Regulation LL, dated September 13, 2011, for more information.
2. Under Section 3(a)(1) of the BHC Act and Section 225 of Regulation Y, an ESOP may be required to register, and be regulated, as a bank
holding company. For further information, contact the respective Reserve
Bank where reports generally are filed. (See the Glossary entry for
‘‘Control.’’).
FR Y-9ES
General Instructions

December 2012

B. Shifts in Reporting Status
If the status of an ESOP bank holding company changes
from a one bank ESOP bank holding company to a
multibank ESOP bank holding company, or vice versa,
either directly or indirectly through a merger, acquisition,
consolidation or sale, the ESOP bank holding company
should continue to file the FR Y-9ES. When an event
such as this occurs, the ESOP bank holding company
should disclose this in the Notes to the Financial
Statements of the FR Y-9ES.
When there is dilution of the percentage of employer
securities owned by the ESOP bank holding company
through issuance of additional shares or other corporate
actions, it should continue to file the FR Y-9ES as long as
the ESOP remains or is deemed to be a bank holding
company.

Where to Submit the Report
Electronic Submission
Beginning with the FR Y-9ES report submitted for
December 31, 2003, reporting date, ESOP bank holding companies must submit their completed report
electronically.
For procedures for electronic submission ESOP bank
holding companies should contact their district Federal
Reserve Bank or go to http://www.frbservices.org/
centralbank/index.html.

When to Submit the Report
The Financial Statements for Employee Stock Ownership
Plan Bank Holding Companies (FR Y-9ES) is required to
be submitted no later than July 31 following the December 31 reporting date. However, for ESOP bank holding
companies that have received an extension with the IRS
on Form 5500 by filing Form 5558, the submission
GEN-1

General Instructions

deadline of the FR Y-9ES will be extended to October 15
to coincide with the extended IRS deadline. For example,
financial statements for December 31, 20xx are required
to be submitted no later than July 31, 20xx for ESOP
bank holding companies that have not received an extension with the IRS and October 15 for ESOP bank holding
companies that have received an extension. However,
ESOP bank holding companies that filed for an extension
with the IRS must send a copy of Form 5558 to the
appropriate Federal Reserve Bank by July 31. Therefore,
for purposes of the FR Y-9ES, the term ‘submission
deadline’ applies to both the July 31 and October 15
deadlines and refers to the date by which the Federal
Reserve must receive the ESOP bank holding company’s
FR Y-9ES or the copy of Form 5558.
The report is due by the end of the reporting day on the
submission deadline (i.e., 5:00 P.M. at each of the
Reserve Banks).
If the submission deadline falls on a Saturday, Sunday
(weekend) or holiday, the report must be received by
5:00 P.M. on the first business day after the weekend or
holiday. Earlier submission would aid the Federal Reserve
in reviewing and processing the reports and is encouraged. No extensions of time for submitting reports
beyond October 15 are granted.

How to Prepare the Report
A. Applicability of GAAP
ESOP bank holding companies are required to prepare
and file the Financial Statements for Employee Stock
Ownership Plan Bank Holding Companies (FR Y-9ES)
in accordance with generally accepted accounting principles (GAAP) as set forth in the FASB Accounting
Standards Codification and these instructions. For purposes of these instructions, the FASB Accounting Standards Codification is referred to as ‘‘ASC.’’ All reports
shall be prepared in a consistent manner. The ESOP bank
holding company’s financial records shall be maintained
in such a manner and scope so as to ensure that the FR
Y-9ES can be prepared and filed in accordance with these
instructions and reflect a fair presentation of the ESOP
bank holding company’s financial condition and results
of operations.
When the Federal Reserve’s interpretation of how GAAP
or these instructions should be applied to a specified
event or transaction (or series of related events or transGEN-2

actions) differs from the reporting ESOP bank holding company’s interpretation, the Federal Reserve may
require the ESOP bank holding company to reflect the
event(s) or transaction(s) in its FR Y-9ES in accordance
with the Federal Reserve’s interpretation and to amend
previously submitted reports. The Federal Reserve will
consider the materiality of such event(s) or transaction(s)
in making a determination about requiring the ESOP
bank holding company to apply the Federal Reserve’s
interpretation and to amend previously submitted
reports. Materiality is a qualitative characteristic of
accounting information which is defined in FASB Concepts No. 2 as ‘‘the magnitude of an omission or misstatement of accounting information that, in the light of
surrounding circumstances, make it probable that the
judgment of a reasonable person relying on the information would have been changed or influenced by the
omission or misstatement.’’
ESOP bank holding companies should retain workpapers
and other records used in the preparation of these reports.

B. Report Form Captions and
Instructional Detail
No caption on the report form shall be changed in any
way. No item is to be left blank. An entry must be made
for each item (i.e. an amount, a zero, or a ‘‘N/A’’).
There may be areas in which an ESOP bank holding
company wishes more technical detail on the application
of employee benefit law and regulation. Such information may often be found in the Glossary section of these
instructions or, in more detail, in the Internal Revenue
Code, the Employee Retirement Income Security Act or
related regulations. The employee benefit terms in the
Glossary are intended to serve as an aid in the specific
reporting situations rather than a comprehensive statement of employee benefit law.
Additional copies of this instruction book may be obtained
from the district Federal Reserve Bank or from the
‘‘Reporting Forms’’ section of the Federal Reserve
Board’s public website (www.federalreserve.gov).

C. Rounding
All dollar amounts must be reported in thousands of
dollars, with the figures rounding to the nearest thousand.
Items less than $500 should be reported as zero.
General Instructions

FR Y-9ES
December 2012

General Instructions

Rounding could result in details not adding to their stated
totals. However, to ensure consistent reporting, the
rounded detail items should be adjusted so that the totals
and the sums of their components are identical.

System if the Board of Governors determines that the
disclosure of such information is in the public interest.

On the Financial Statements for Employee Stock Ownership Plan Bank Holding Companies, ‘‘Total assets’’
less ‘‘Total liabilities’’ must equal ‘‘Net assets available
for benefits.’’ These amounts must be derived from
unrounded numbers and then rounded to ensure that these
two items are equal as reported.

Verification. All addition and subtraction should be
double-checked before the report is submitted. Totals and
subtotals in supporting materials should be crosschecked to corresponding items elsewhere in the report.
Before a report is submitted, all amounts should be
compared with the corresponding amounts in the previous report. If there are any unusual changes from the
previous report, a brief explanation of the changes should
be attached to the submitted report.

D. Negative Entries
Negative entries are generally not appropriate on the
FR Y-9ES and should not be reported. Hence, assets with
credit balances must be reported in liability items and
liabilities with debit balances must be reported in asset
items, as appropriate, and in accordance with these
instructions.
However, on the Statement of Changes in Net Assets
Available for Benefits, negative entries may appear as
appropriate. Income items with a debit balance and
expense items with a credit balance must be reported in
parentheses rather than with a minus (2) sign.

E. Confidentiality
The completed version of this report generally is available to the public upon request on an individual basis.
However, a reporting ESOP bank holding company may
request confidential treatment for the Financial Statements for Employee Stock Ownership Plan Bank Holding
Companies (FR Y-9ES) if the ESOP bank holding company is of the opinion that disclosure of specific commercial or financial information in the report would likely
result in substantial harm to its competitive position, or
that disclosure of the submitted information would result
in unwarranted invasion of personal privacy.
A request for confidential treatment must be submitted in
writing concurrently with the submission of the report.
The request must discuss in writing the justification for
which confidentiality is requested and must demonstrate
the specific nature of the harm that would result from
public release of the information. Merely stating that
competitive harm would result or that information is
personal is not sufficient.
Information for which confidential treatment is requested
may subsequently be released by the Federal Reserve
FR Y-9ES
General Instructions

December 2012

F. Verification and Signature

Signature. The Financial Statements for Employee Stock
Ownership Plan Bank Holding Companies must be
signed by an authorized officer of the employee stock
ownership plan. This individual should be an official
authorized by the plan documents to act on behalf of the
ESOP.
ESOP bank holding companies must maintain in their
files a manually signed and attested printout of the data
submitted. The cover page of the Reserve Bank-supplied,
holding company’s software, or from the Federal Reserve’s website report form should be used to fulfill the
signature and attestation requirement and this page
should be attached to the printout placed in the ESOP
bank holding company’s files.

G. Amended Reports
The Federal Reserve may require the filing of amended
Financial Statements for Employee Stock Ownership
Plan Bank Holding Companies if the report previously
submitted contains significant errors. In addition, an
ESOP bank holding company should file an amended
report when internal or external auditors make audit
adjustments that result in a restatement of financial
statements previously submitted to the Federal Reserve.
In the event that certain of the required data are not
available, ESOP bank holding companies should contact
the appropriate Reserve Bank for information on submitting a revised report.

H. Organization of the Instruction Book
The instruction book is divided into two sections:
(1) The General Instructions describing overall reporting
requirements.
GEN-3

General Instructions

(2) The Line Item Instructions for each schedule of the
Financial Statements for Employee Stock Ownership
Plan Bank Holding Companies (FR Y-9ES).

necessarily self-contained; reference to more detailed
treatments in the Glossary may be needed.

The instructions and definitions in section (2) are not

GEN-4

General Instructions

FR Y-9ES
December 2012

LINE ITEM INSTRUCTIONS FOR

Statement of Changes in Net Assets
Available for Benefits
Schedule SC

The Statement of Changes in Net Assets Available for
Benefits reflects changes in net assets available for
benefits for the calendar year, the period from January 1
to December 31 for Employee Stock Ownership Plans
(ESOPs). If the ESOP was formed during the calendar
year, the Statement of Changes in Net Assets Available
for Benefits should reflect changes in the value from the
date of formation to the end of the calendar year (i.e.,
December 31).

debt securities reported in items 1, 2(b), 3(b), 4 and 9 of
the Statement of Net Assets Available for Benefits.

For leveraged ESOPs, additions and deductions should
include both allocated and unallocated (suspense account)
amounts. Transfers from unallocated to allocated should
not be reflected because they do not affect net assets
available for plan benefits. (See the following Glossary
entries: ‘‘Leveraged ESOPs,’’ ‘‘Net Assets Available for
Benefits,’’ and ‘‘Suspense Shares.’’)

Line Item 4

Investment Income

Line Item 5

Line Item 1 Net appreciation (depreciation) in fair
value of investments:

Report contributions authorized by plan participants for
the current reporting period whether or not the contributions have been remitted to the ESOP.

Line Item 1(a)

Employer securities.

Line Item 3

Report dividend income declared or paid to the ESOP
during the calendar year-to-date. Include dividends that
were payable but that will not be received until after the
report date.

Line Item 6

Line Item 1(b)

Line Item 7

Report the change in fair value of all other securities.
Realized gains and losses need not be segregated from
unrealized gains and losses relating to investments held
at year-end. If the amount reported is a net loss, enclose it
in parentheses.
Line Item 2

Interest income.

Report interest income paid or payable to the ESOP for
the current reporting period related to cash balances or
FR Y-9ES
Schedule SC

December 2012

Employer contributions.

Report total employer contributions declared (whether or
not yet received), during the current reporting period.
Include in this item both cash and noncash contributions.
Noncash contributions should be recorded at fair value.
A description of noncash contributions should be
provided in the Notes to the Financial Statements.

Report the change in fair value of employer securities.
Realized gains and losses need not be segregated from
unrealized gains and losses relating to investments held
at year-end. If the amount reported is a net loss, enclose it
in parentheses.
Other securities.

Dividend income.

Participant contributions.

Other additions.

Report the amount of all other additions to the net assets
available for benefits recognized by the ESOP, that is not
reported in items 1 through 5 above.
Total additions.

Report the sum of items 1(a), 1(b), 2, 3, 4, 5, and 6.
Line Item 8

Interest expense.

Report loan interest and any other interest paid or
payable by the ESOP for the calendar year-to-date.
Include only expenses paid by the ESOP and do not
include expenses paid by a lower tier bank holding
company or a bank on behalf of the ESOP unless such
payments were reimbursed by the ESOP.
SC-1

Schedule SC

Line Item 9

Insurance expenses.

Report the difference between the premium paid and the
cash surrender value of life insurance.
Line Item 10

Distributions paid to participants.

Report distributions that were paid or payable to participants for the calendar year-to-date.
Line Item 11

Other deductions.

Report any other deductions from net assets available for
benefits not included in items 8, 9, and 10 above, such as
plan administration expenses. Include only expenses paid
by the ESOP and do not include expenses paid by a lower
tier bank holding company or a bank on behalf of the
ESOP unless such payments were reimbursed by the
ESOP.
Line Item 12

Total deductions.

Report the sum of items 8, 9, 10, and 11.

SC-2

Line Item 13

Net increase (decrease).

Report the difference between item 7 minus item 12. If
amount reported is a net decrease, enclose it in parentheses. This amount should be equal to the difference
between items 14 and 15.
Line Item 14 Beginning of year: net assets
available for benefits.
Report the net assets available for benefits as of the
previous calendar year-end.
Line Item 15
benefits.

End of year: net assets available for

Report the net assets available for benefits as of the end
of the statement period, the sum of items 13 and 14. This
item must equal the Statement of Net Assets Available
for Benefits schedule, item 15.

Schedule SC

FR Y-9ES
December 2012

LINE ITEM INSTRUCTIONS FOR

Statement of Net Assets Available
for Benefits
Schedule SB

The Statement of Net Assets Available for Benefits
reflects, as of the report date, the net assets that ultimately
are available to pay benefits. For leveraged ESOPs, assets
reported on this schedule should include both allocated
and unallocated (suspense account) amounts.

Assets
Line Item 1 Cash and Cash Equivalents
(including money market instruments).
Report cash and cash equivalents both noninterest bearing and interest bearing. For the purposes of this report,
cash and cash equivalents includes cash, and other financial instuments that are both: (a) readily convertible into
cash and (b) have a remaining maturity of three months
or less. Examples of items commonly considered cash
equivalents are Treasury bills, commercial paper, or
money market funds. Cash purchases and sales of those
investments, if included here, should be part of the cash
management activities rather than part of investing
activities. Securities that are purchased as investments
should be reported in items 2 through 4 below.
Overdrafts should not be reported in this item. Overdrafts
should be reported under item 13, ‘‘Other liabilities.’’
Line Item 2

Bank holding company securities.

Plan investments, whether equity or debt securities or
other investments, shall be presented at their fair value as
of the report date. The fair value of an investment is the
amount that the ESOP could reasonably expect to receive
in a current arms-length sale between a willing buyer and
a willing seller, that is, other than in a forced or liquidation sale. Fair values shall be measured by the market
price if there is an established securities trading market
for the investment. If no active market for the employer
securities exists, fair values shall be determined by an
annual independent appraisal.
FR Y-9ES
Schedule SB

June 2007

Line Item 2(a)

Equity securities.

Report the fair value of equity securities in a bank
holding company employer or sponsor as of the report
date. Equity securities reported in this item should
include qualifying employer securities. (See the Glossary
entries ‘‘Qualifying Employer Securities’’ and ‘‘Sponsoring Employer.’’) Non-qualifying employer equity securities should be reported in item 9, ‘‘Other assets.’’
Line Item 2(b)

Debt securities.

Report on this item the fair value of debt securities in a
bank holding company employer or sponsor as of the
report date. Debt securities reported in this item should
include qualifying employer securities. (See the Glossary
entries ‘‘Qualifying Employer Securities’’ and ‘‘Sponsoring Employer.’’) Non-qualifying employer debt securities
should be reported in item 9, ‘‘Other assets.’’
Line Item 3

Bank securities.

Plan investments, whether equity or debt securities or
other investments, shall be presented at their fair value as
of the report date. The fair value of an investment is the
amount that the ESOP could reasonably expect to receive
in a current arms-length sale between a willing buyer and
a willing seller, that is, other than in a forced or liquidation sale. Fair values shall be measured by the market
price if there is an established securities trading market
for the investment. If no active market for the employer
securities exists, fair values shall be determined by an
annual independent appraisal.
Line Item 3(a)

Equity securities.

Report the fair value of equity securities in a bank
employer or sponsor as of the report date. Equity securities reported in this item should include qualifying
employer securities. (See the Glossary entries ‘‘Qualifying Employer Securities’’ and ‘‘Sponsoring Employer.’’)
SB-1

Schedule SB

Non-qualifying employer equity securities should be
reported in item 9, ‘‘Other assets.’’
Line Item 3(b)

Debt securities.

Report the fair value of debt securities in a bank employer
or sponsor as of the report date. Debt securities reported in this item should include qualifying
employer securities. (See the Glossary entries ‘‘Qualifying Employer Securities’’ and ‘‘Sponsoring Employer.’’)
Non-qualifying employer debt securities should be
reported in item 9, ‘‘Other assets.’’

Line Item 8
insurance.

Report the cash surrender value of any insurance policy
on a bank or bank holding company officer or employee
for which the ESOP holds as an investment to defray
costs of employee benefits.
Line Item 9

Diversified ESOPs that hold marketable debt and equity
securities other than qualifying employer securities or
sponsor securities, should report the fair value of those
securities in this item. Do not include bank or bank
holding company employer securities held by the ESOP
in this item; those investments should be reported on
either item 2, 3 or 9.
Line Item 5

Employer’s contribution receivable.

Employer’s contribution receivables are amounts due as
of the report date. Amounts due include those pursuant to
formal commitments and legal obligations. Evidence of a
formal commitment may include (a) a resolution by the
employer’s governing body approving a specific contribution, (b) a consistent pattern of making payments after
the plan’s year-end pursuant to an established funding
policy that attributes such subsequent payments to the
preceding plan year, (c) a deduction of a contribution for
federal tax purposes for periods ending on or before the
reporting date, or (d) the employer’s recognition as of the
report date of a contribution payable to the plan.
Line Item 6

Participants’ contribution receivable.

Participants’ contribution receivables are amounts due
from plan participants that are permissible under the plan
and contributed pursuant to a formal commitment as of
the report date. These contributions normally would be
made by participants in a KSOP plan. (See the Glossary
entry ‘‘KSOP.’’)
Line Item 7

Dividends and interest receivable.

Report the amount of dividends and interest earned but
not yet received as of the report date.
SB-2

Other assets.

List any other non-qualifying assets that have not been
described in items 1 through 8.
Line Item 10

Line Item 4 Securities (other than securities
reported in items 1, 2, 3, and 9).

Cash surrender value of life

Total assets.

Report the sum of items 1, 2(a), 2(b), 3(a), 3(b), 4, 5, 6, 7,
8, and 9.

Liabilities
Line Item 11

Loans payable.

Report the amount of all loans payable by the ESOP bank
holding company for purchase of the stock of the sponsoring employer. The debt of leveraged ESOPs also
should be reported on the balance sheet of the sponsoring
employer. All other loans payable should be reported in
other liabilities. For more information see ‘‘Leveraged
ESOPs’’ in the Glossary.
Line Item 12

Interest payable.

Report any interest expense that already has been accrued
as of the report date but which has not been paid.
Line Item 13

Other liabilities.

Report the total amount of all other liabilities not reported
under items 11 and 12 above. Include amounts allocated
to the accounts of the persons who have elected to
withdraw from the plan but have not been paid.
Line Item 14

Total liabilities.

Report the sum of items 11, 12, and 13.
Line Item 15

Net Assets Available for Benefits.

Report the difference between item 10 and item 14. The
amount reported in this line item must equal line item 15
of Schedule SC. For non-leveraged ESOPs, net assets
available to pay plan benefits should reconcile to the sum
of the participant’s individual account balances.
For leveraged ESOPs, the sum of the participant’s individual account balances should equal the fair value of the
Schedule SB

FR Y-9ES
December 2012

Schedule SB

plan’s allocated assets. The reconciling items between
(1) the sum of the participant’s individual account balances and (2) net assets available for benefits include the
fair value of the plan’s unallocated (suspense account)

FR Y-9ES
Schedule SB

December 2012

assets and the plan’s liabilities. (See the Glossary entries
for ‘‘Leveraged ESOPs,’’ ‘‘Net Assets Available for
Benefits,’’ and ‘‘ Suspense Shares.’’)

SB-3

LINE ITEM INSTRUCTIONS FOR

Memoranda
Schedule SB-M

Line Item M1

Sponsoring employer.

Report the name of the sponsoring employer as defined in
the plan document.
Line Item M2

Shares held by ESOP:

Line Item M2(a)
held by ESOP.

Total number of bank shares

Report the total number of bank shares held by the ESOP,
including both allocated and unallocated shares. If fractional shares are issued and they are greater than or equal
to .5, round up to the nearest whole number.
Line Item M2(b)
by ESOP.

Percentage of bank shares held

Report the percentage of bank shares outstanding that are
held by the ESOP, including both allocated and unallocated shares.
Line Item M2(c) Number of bank shares allocated
to ESOP participants.
Report the total number of bank shares held by the ESOP
that are allocated to plan participants. The number of
allocated shares is included in item M2(a). If fractional
shares are issued and they are greater than or equal to .5,
round up to the nearest whole number.
Line Item M2(d) Total number of bank holding
company shares held by ESOP.
Report the total number of bank holding company shares
held by the ESOP, including both allocated and unallocated shares. If fractional shares are issued and they are
greater than or equal to .5, round up to the nearest whole
number.
FR Y-9ES
Schedule SB-M

December 2012

Line Item M2(e) Percentage of bank holding
company shares held by ESOP.
Report the percentage of bank holding company shares
outstanding that are held by the ESOP, including both
allocated and unallocated shares.
Line Item M2(f) Number of bank holding
company shares allocated to ESOP participants.
Report the total number of bank holding company shares
held by the ESOP that are allocated to plan participants. The number of allocated shares is included in
item M2(d). If fractional shares are issued and they are
greater than or equal to .5, round up to the nearest whole
number.
Line Item M3 Amount of ESOP debt reported as
contra-equity by the sponsoring employer or
unearned ESOP shares on:
As part of sponsoring a leveraged ESOP, the employer
will deduct an amount equal to the debt balance from the
equity section of its balance sheet for unallocated shares.
For more information see ‘‘ESOP Debt to Related Entities’’ in the Glossary.
Line Item M3(a)

Bank report of condition.

Report the amount of the contra-equity account that is
reported on the bank’s report of condition and income. A
bank that has guaranteed the ESOP long-term debt would
include the offsetting debit to the liability reported on the
balance sheet as a contra-equity account on the balance
sheet.
Line Item M3(b)
sheet.

Bank holding company balance

Report the amount of the contra-equity account that is
reported on the bank holding company’s balance sheet. A
bank holding company that has guaranteed the ESOP
SB-M-1

Schedule SB-M

long-term debt would include the offsetting debit to the
liability reported on the balance sheet as a contra-equity
account on the balance sheet.
Line Item M4

Year ESOP was initially adopted.

Report the year the ESOP was initially adopted by the
sponsoring employer as defined in the plan document.
For plans that existed prior to becoming ESOPs, report
the date that the plan became an ESOP. Report the year in
the century/year (i.e., CCYY) format (for example, report
1976 and not ‘‘76’’).
Line Item M4(a) Accounted for under AICPA
Statement of Position 76-3 or Statement of Position
93-6. (Enter ‘‘1’’ for SOP 76-3; enter ‘‘2’’ for
SOP 93-6).1
If the ESOP employer has adopted SOP 76-3, enter ‘‘1’’
in this item. If the ESOP employer has adopted SOP
93-6, enter ‘‘2’’ in this item. (See the Glossary entry
‘‘Accounting for ESOPs by Sponsoring Employer’’).
Line Item M4(b) Total number of plan
participants as of December 31 of the report year.
Report the total number of participants in the plan, as
defined in Form 5500, as of December 31 of the reporting
year. Report the exact number of participants.
Line Item M5 Estimated employer liability for
payment of plan benefits/distributions within two
(2) years after December 31 of the report year.
Report an estimate of the employer’s liability to plan
participants and/or beneficiaries eligible and reasonably
expected to receive benefits or distributions within two
years after December 31 of the report year. Such amounts
include payments of participant retirement benefits, bene1. See ASC Subtopic 718-40, Compensation-Stock Compensation –
Employee Stock Ownership Plans and ASC Subtopic 105-10, Generally
Accepted Accounting Principal – Overall for additional information.

SB-M-2

ficiary payments, and termination payments. These
amounts do not include all vested balances of participants, but only those amounts reasonably expected to
be subject to distribution within two years after December 31 of the report year.
Line Item M6 The net amount of plan participant
balances eligible for diversification under the
diversification requirement.
Report the amount of plan participant balances available
under the diversification requirements for participants
who have attained 10 years of service and are age 55
or older who are eligible to elect to diversify their
individual accounts, or who have elected to diversify
their accounts. Calculate the net amount of plan participant balances eligible for diversification by determining
the gross amount of plan participant balances eligible
for diversification and subtract the amount of participant
balances previously diversified.
Line Item M7 Did the plan engage in any
transaction with parties in interest during the
current report year?
If the plan engaged in a transaction with a party in
interest during the current reporting year, please enter a
‘‘1’’ in the box. If no transactions with a party in interest
occurred during the current reporting year, please enter
a ‘‘0’’ (zero) in the box. (See the Glossary entry ‘‘Partyin-Interest/Disqualified Person.’’)
Line Item M8 Has there been a change in plan
trustees or the plan administrative committee
during the current report year?
If there has been a change in plan trustees, or membership in the plan administrative committee during the
current reporting year, please enter a ‘‘1’’ in the box. If no
change in plan trustees or the plan administrative committee occurred during the current reporting year, please
enter a ‘‘0’’ (zero) in the box.

Schedule SB-M

FR Y-9ES
December 2012

Glossary

The definitions in this Glossary apply to the Financial
Statements for Employee Stock Ownership Plan Bank
Holding Companies (FR Y-9ES) and are not necessarily
applicable for other regulatory or legal purposes. The
presentation of the assets, liabilities, and net assets
available for benefits, and the recognition of changes in
the net assets available for benefits in the FR Y-9ES are
to be in accordance with generally accepted accounting
principles. The accounting discussions in this Glossary
are those relevant to the preparation of these reports and
are not intended to constitute a comprehensive presentation on bank accounting or on generally accepted
accounting principles (GAAP).
Subsequent to legislation that created Employee Stock
Ownership Plans (ESOPs), accounting standards for both
the plan and the plan sponsor have evolved. The appropriate accounting can vary from institution to institution,
depending on the date the ESOP was formed and other
unique factors. The information given below is intended
only as general guidance; for in-depth or specific information, it may be necessary to consult GAAP resources
or obtain expert accounting or legal advice.
Accounting for ESOPs: ESOP accounting as presented
in the FR Y-9ES should conform to generally accepted
accounting principles (GAAP). The plan should use a
special form of fair value accrual accounting consistent
with employee benefit plans and not the equity method of
accounting. The plan balance sheet should reflect ESOP
debt as a liability on its balance sheet. GAAP for ESOPs
are addressed primarily by the AICPA Audit and Accounting Guide: Audits of Employee Benefit Plans.
Accounting for ESOPs by Sponsoring Employer:
Sponsoring employer accounting for a leveraged ESOP
will vary depending upon the formation date. (See the
Glossary entry for ‘‘Formation Date.’’) Employer accounting for ESOPs formed after 1993 is governed by the ASC
Subtopic 718-40, Compensation-Stock Compensation –
FR Y-9ES
Glossary December 2012

Employee Stock Ownership Plans (formerly AICPA
Statement of Position 93-6, Employers’ Accounting for
Employee Stock Ownership Plans). According to ASC
Subtopic 718-40, all debt of the ESOP must be reflected
as a liability on the financial statements of the sponsoring
employer. The shares purchased with the proceeds of
the debt are recorded by the sponsoring employer as a
contra-equity account. This account is reduced and the
shares are transferred to the ESOP in proportion to the
debt repayment.
ESOPs formed prior to 1994 are accounted for pursuant
to AICPA Statement of Position 76-3 as grandfathered by
ASC Subtopic 105-10, Generally Accepted Accounting
Principal – Overall. For loans that closed or were renegotiated after June 19, 1989, the debt must be reflected on
the balance sheet of the sponsoring employer, and on the
balance sheet of the ESOP. Institutions accounting for
transactions under ASC Subtopic 105-10 also reflect the
debt balance as a contra-equity account. For additional
information, see ASC Subtopic 718-40, ASC Subtopic
105-10, and ASC Topic 960, Plan Accounting-Defined
Benefit Pension Plans (formerly FAS 35, Accounting and
Reporting by Defined Benefit Pension Plans), and any
other accounting standards relevant to the reporting
ESOP employer.
NOTE: When a leveraged ESOP borrows from an
affiliate bank or bank holding company the note receivable and the note payable are both eliminated from
the consolidated balance sheet. Likewise, income and
expense accounts are also eliminated. On a parent-only
basis, they continue to be reflected on each balance sheet.
Accumulated Plan Benefits: Benefits calculated to
the benefit information date that are attributable to the
employee under the provisions of the plan.
Adequate Consideration: In the case of a security for
which there is a recognized market, the price prevailing
on a national securities exchange. In the case of a
GL-1

Glossary

closely held security, the fair market value of the asset as
determined in good faith by the trustee or named fiduciary.
Allocated Shares: The shares in an ESOP trust that have
been assigned to individual participant accounts based
on a known formula. IRS rules require allocation to be
nondiscriminatory (that is, generally based on compensation, length of service, or a combination of both). For
any particular participant such shares may be vested,
unvested or partially vested.
Appraisal: Closely held employer securities of an ESOP
must be independently appraised at least annually as of
the plan valuation date. For purposes of reporting on the
FR Y-9ES, the reporter should use the most recent plan
year-end appraisal.
Bank Holding Company: See ‘‘Control.’’
Benefits: See ‘‘Pension Benefits’’ and ‘‘Accumulated
Plan Benefits.’’
Control: Under Section 3(a)(1) of the BHC Act and
Section 225.11 of Regulation Y, an ESOP is required to
register, and be regulated, as a bank holding company
before acquiring control of 25 percent or more of any
class of voting securities of a bank or bank holding
company. Under the rebuttable control presumption of
Section 225.31(d)(2)(ii) of Regulation Y, an ESOP also is
presumed to control a bank or bank holding company if it
acquires control of more than 5 percent (but less than
25 percent) of any class of that banking organization’s
voting securities and, together with the interests held by
its trustees and administrative committee members, controls 25 percent or more. In this situation, unless the
control presumption can be successfully rebutted, an
ESOP must register, and be regulated, as a ‘‘bank holding
company.’’
Under section 3(a)(1) of the BHC Act and Section 225.11
of Regulation Y, an ESOP is required to register, and be
regulated, as a bank holding company before acquiring
control of 25 percent or more of any class of voting
securities of a bank or bank holding company. Like other
bank holding companies, once an ESOP is approved to
control 25 percent or more, it must continue to receive
prior Federal Reserve approval for any increase in the
number or percentage of shares it owns until it is
approved to own over 50 percent, at which time it would
become exempt from further acquisition filing requirements under Section 225.12(c) of Regulation Y.
GL-2

Contingent Liability: A contingent liability is recorded
on the balance sheet based on the probability that an asset
has been impaired or a loss has been incurred and the
amount of the contingent liability is reasonably estimable.
Contra-equity: A contra-equity account is an account
with a debit balance that is classified in the equity section
of the balance sheet. The sponsoring employer records
unearned ESOP shares in a contra-equity account. The
account would be titled ‘‘unearned ESOP shares’’ under
ASC Subtopic 718-40, Compensation-Stock Compensation – Employee Stock Ownership Plans (formerly
AICPA Statement of Position 93-6, Employers’ Accounting for Employee Stock Ownership Plans) or ‘‘ESOP
debt’’ under AICPA Statement of Position 76-3 as grandfathered by ASC Subtopic 105-10, Generally Accepted
Accounting Principal – Overall. For further guidance, see
the FR Y-9C Glossary entries for ‘‘unearned ESOP
shares,’’ ‘‘ESOP debt,’’ and ‘‘contra-equity.’’
Contributions: Employers and/or plan participants make
contributions to ESOPs. In order for plan participants to make contributions, the ESOP must contain a
401(k) feature permitting employee deferrals or savings.
Employer contributions to retirement plans are generally
considered to be a part of compensation expense by the
employer. For additional information on plan deferral
contributions see the Glossary entry for ‘‘KSOP.’’
Contributions receivable: Amounts due as of the date
of the financial statements, including legal and contractual obligations; or amounts authorized by boards of
directors.
Defined contribution plan: A plan that provides an
individual account for each participant and provides
benefits that are based on (a) amounts contributed to
the participants account by the employer or employee,
(b) investment experience, and (c) any forfeitures allocated to the account less any administrative expenses
charged to the plan. Examples of a defined contribution
plan include a profit sharing plan, a 401(k) plan, and an
ESOP. See ASC Subtopic 715-70, CompensationRetirement Benefits – Defined Contribution Plans (formerly EITF 86-27, Measurement of Excess Contributions
to a Defined Contribution Plan or Employee Stock
Ownership Plan).
Disqualified Person: See ‘‘Party-in-Interest/Disqualified
Person.’’
Glossary

FR Y-9ES
December 2012

Glossary

Dividends on allocated shares used for debt service:
Dividends on allocated and unallocated shares must be
allocated to employee accounts. Companies normally
allocate these amounts using shares, or portions of shares,
released from the suspense account, when the dividends
have been used for debt service. The value of shares
released must equal or exceed the dividends on shares
that were allocated to employee accounts and were used
for debt service. Dividends on unallocated shares may be
allocated to participants based on any fair formula.
Employer Securities: See ‘‘Qualifying Employer
Securities.’’
Employee Retirement Income Security Act of 1974
(ERISA): The ERISA is a federal law that sets minimum
standards for most voluntarily established pension and
health plans in private industry to provide protection for
individuals in these plans.
Employee Retirement Income Security Act of 1974
(ERISA) Plan: A plan that is subject to ERISA.
Employee Stock Ownership Plan (ESOP). A taxqualified employee benefit plan, which is designed to be
invested primarily in qualifying employer securities and
is uniquely permitted to borrow money from or on the
guarantee of a party-in-interest for the purpose of acquiring securities issued by the plan sponsor (a leveraged
ESOP). The term ‘‘employee stock ownership plan’’ is
also generally applied to (a) non-leveraged stock bonus
plans that satisfy various requirements set forth in
section 4975(e)(7) of the Internal Revenue Code and
(b) profit-sharing plans (and certain pre-ERISA money
purchase pension plans) that invest primarily in securities
issued by the plan sponsor.
ESOP Debt to Related Entities: When a leveraged
ESOP borrows from an affiliate bank or bank holding
company, the note receivable and the note payable are
both eliminated from the consolidated balance sheet.
Likewise, income and expense accounts are also eliminated. On a parent-only basis, they continue to be
reflected on each balance sheet.
Fiduciary: A person who has or exercises discretionary
authority in the management of plan assets or in the
administration of the plan. (Defined at ERISA section 3(21)). This generally includes plan administrators,
plan officers and directors, plan trustees, investment
managers, and persons with power to set plan policy and
procedures.
FR Y-9ES
Glossary December 2012

Form 5500: A joint-agency form developed by the
Internal Revenue Service, Department of Labor and the
Pension Benefit Guaranty Corporation which may be
used to satisfy the annual reporting requirements of the
Internal Revenue Code and Titles I and IV of ERISA.
Form 5500 and instructions can be obtained from the IRS
public website (www.irs.gov).
Form 5558: Application for Extension of Time To File
Certain Employee Plan Returns. A joint-agency (Internal
Revenue Service, Department of Labor and The Pension
Benefit Guaranty Corporation) form used to obtain a
one-time extension of time to file Form 5500 up to 21⁄2
months after the normal due date.
Formation Date: The formation date is that date that a
plan is formally adopted by the sponsoring employer and
legally takes effect, according to plan documents and the
sponsoring employer, and as determined by applicable
laws and regulations.
KSOP: A KSOP is an ESOP designed with 401(k)
provisions, which permits plan participants to defer or
save a portion of their salary into the tax-qualified plan. A
KSOP must be formally designated as an ESOP in order
to qualify to borrow funds for the purposes of purchasing
qualifying employer securities. Contributions receivable
in a KSOP are amounts due from plan participants that
are permissible under the plan and contributed pursuant
to a formal commitment as of the reporting date.
Leveraged ESOP: A leveraged ESOP directly or indirectly borrows funds to purchase qualifying employer
securities for the plan. Under certain circumstances funds
can be borrowed from the sponsoring employer. All
qualifying employer securities acquired by an ESOP with
proceeds from an exempt loan must be held in a contraequity account and then released to the ESOP as the loan
is paid. Under both ASC Subtopic 718-40, CompensationStock Compensation – Employee Stock Ownership Plans
(formerly AICPA Statement of Position 93-6, Employers’
Accounting for Employee Stock Ownership Plans) or
‘‘ESOP debt’’ under AICPA Statement of Position 76-3
as grandfathered by ASC Subtopic 105-10, Generally
Accepted Accounting Principal – Overall the employer,
as well as the ESOP, records the ESOP’s debt as a
liability.
The qualifying employer securities that are held as
collateral for the debt may fluctuate in market value; as a
result, the market value of the securities held as collateral
might not exactly equal the value of the debt. This
GL-3

Glossary

difference does not need to be reported separately on the
FR Y-9ES because allocated and unallocated shares are
aggregated together and because the net assets available
for plan benefits should not be affected by this fluctuation. (See the Glossary entry for ‘‘Net Assets Available
for Benefits.’’)
Market (Fair) Value of Securities: The market value of
securities should be determined, to the extent possible, by
timely reference to the best available source of current
market quotations or other data on relative current values. For example, securities traded on national, regional,
or foreign exchanges or in organized over-the-counter
markets should be valued at the most recently available
quotation in the most active market.
The amount the plan could reasonably expect to receive
for a plan investment in a current sale between a willing
buyer and a willing seller. In the case of a closely held
security, an annual appraisal independently arrived at by
a person who customarily makes such appraisals and who
is independent of any party to a transaction will be
deemed to be a good faith determination of value. In the
case of a transaction between a plan and a disqualified
person, the value must be determined as of the date of the
transaction [Treas. Reg. 54.4975-11(d)(5)]. (See also
‘‘Adequate Consideration.’’)
Mature ESOP: Mature ESOPs are those whose participants are approaching retirement age; these ESOPs are
subject to diversification rules. To maintain its qualified
status, an ESOP must allow participants who have
attained the age of 55 and who have completed ten years
of service to elect to diversify a percentage of their
account. Also, a retiring or terminating participant has
the option to require the employer to reacquire the shares
allocated to the participant’s account at the current fair
market value if the employer securities are not readily
tradable on an established market. According to SEC
Accounting Release #268, the employer is required to
reflect the obligation to repurchase shares from terminating employees outside of the equity accounts. For additional information regarding repurchase requirements
see Internal Revenue Code section 409(h)(1), and for
diversification rules see Internal Revenue Code section 401(a)(28).
Net Assets Available for Benefits: Net assets available
for benefits is the difference between a plan’s assets and
its liabilities. For purposes of this definition, a plan’s
GL-4

liabilities do not include participant’s accumulated plan
benefits.
For leveraged ESOPs, the net assets available for benefits
represents the amount currently accumulated to ultimately pay benefits, even though the suspense account
shares are pledged as collateral for the debt and have not
yet been allocated to participants. Also, additions and
deductions reported in the Statement of Changes in Net
Assets Available for Benefits should include both allocated and unallocated (suspense account) amounts; share
transfers from unallocated to allocated should not be
presented because they do not affect net assets available
for plan benefits.
Additionally, the sum of the participant’s individual
account balances, for leveraged ESOPs, should equal the
fair value of the plan’s allocated assets. Therefore, the
reconciling items between (1) the sum of the participant’s
individual account balances and (2) net assets available
for benefits include the fair value of the plan’s unallocated (suspense account) assets and the plan’s liabilities.
Participant: A participant in an ESOP is any employee
or former employee or any member or former member
of a trade or other employee association, or the beneficiaries of these individuals, for whom there are accumulated plan benefits. See Form 5500 for more information.
Party-in-Interest/Disqualified Person: A party-ininterest or disqualified person is any person with an
inherent conflict of interest as to an employee benefit
plan. A party-in-interest or disqualified person under
ERISA includes, but is not limited to, a fiduciary or
employee of the plan, any person who provides services
to the plan, an employer whose employees are covered by
the plan, an employee association whose members are
covered by the plan, a person who owns 50 percent or
more of such an employer or employee association, or a
relative or spouse of such persons just listed.
Pension Benefits: Periodic (usually monthly) payments
made to a person, or beneficiary, who has retired from
employment.
Prohibited Transaction: A transaction between the plan
and a party-in-interest under ERISA (or a disqualified
person under the Internal Revenue Code) that is prohibited under either section 406(a) of ERISA or section 4975 of the Internal Revenue Code, and for which
there is no statutory, class or other exemption. Examples
of a prohibited transaction include any direct or indirect:
Glossary

FR Y-9ES
December 2012

Glossary

(1) sale or exchange, or lease, of any property between
the plan and a party-in-interest;
(2) lending of money, or other extension of credit
between the plan and a party-in-interest;
(3) furnishing of goods, services, or facilities between
the plan and a party-in-interest;
(4) transfer to, or use by or for the benefit of, a party-ininterest of any income or assets of the plan;
(5) dealing with the assets of the plan for a fiduciary’s
own interest or own account;
(6) acting in a fiduciary’s individual or any other capacity in any transaction involving the plan on behalf
of a party whose interests are adverse to the interests
of the plan or the interests of its participants or
beneficiaries;
(7) receipt of any consideration for his or her own
personal account by a party-in-interest who is a
fiduciary from any party dealing with the plan in
connection with a transaction involving the income
or assets of the plan.
Qualifying Employer Securities: Common stock issued
by the employer and non-callable preferred stock if it is
convertible at any time into common stock [IRC 409(l),
ERISA 407(d)(6)(A)]. Deposit accounts (i.e. certificates
of deposit, checking or money market accounts) are not
qualifying employer securities.
Released Shares: Shares that have been released from
suspense and from serving as collateral for ESOP debt as
a result of payment of debt service. These shares are
required to be allocated to participant accounts by the end

FR Y-9ES
Glossary December 2012

of the ESOP’s fiscal year. Formulas used to determine the
number of shares to be released can be based either on
(1) the ratio of the current principal amount to the total
original principal amount (in which case the unearned
compensation and debt balance move in tandem) or
(2) the ratio of the current principal plus interest amount
to the total original principal plus interest to be paid.
Shares are released more rapidly under the second
method. The tax law permits the first method only if the
ESOP debt meets certain criteria.
Shares Committed to be Released: Shares not legally
released but that will be released by a future scheduled
and committed debt service payment and will be allocated to employees for service rendered in the current
accounting period. The period of employee service to
which shares relate is generally defined in the ESOP
documents.
Stock Bonus Plan: A stock bonus plan is a defined
contribution plan under which distributions are normally
made in the stock of the employer unless the distributee
elects otherwise.
Suspense Shares: Shares used to collateralize the ESOP’s
debt that have not been released or allocated to participant accounts, and that have been recorded as a contraequity account. For the purposes of filing the FR Y-9ES,
allocated and unallocated (suspense) shares are aggregated (i.e. not reported separately) on both the Statement
of Changes in Net Assets Available for Benefits and on
the Statement of Net Assets Available for Benefits.
Sponsoring Employer: The employer who has formally
adopted the employee benefit plan as defined in the plan
document.

GL-5

Validity (V) Edits for the FR Y-9ES
(Effective as of December 31, 2012)
Series

Effective
Start Date
FRY9ES 20081231

Effective End Edit
Date
Change
99991231
No
Change
99991231
No
Change
99991231
No
Change
99991231
No
Change
99991231
No
Change

Schedule

FRY9ES 20081231

99991231

FRY9ES 20081231

99991231

FRY9ES 20081231

99991231

FRY9ES 20081231

Alg Edit Test

SC

Validity

0040

SC-12

ESOPC327

Sum of SC-8 through SC-11 must equal SC-12.

SC

Validity

0060

SC-13

ESOPC328

SC-7 minus SC-12 must equal SC-13.

(esopc316 + esopc317 + esopc318 + esopc319 +
esopc320 + esopc321 + esop3328) eq esopc323
(esopc324 + esopc330 + esopc325 + esopc326) eq
esopc327
(esopc323 - esopc327) eq esopc328

SC

Validity

0070

SC-14

ESOPC329

Sum of SC-13 and SC-14 must equal SC-15.

(esopc328 + esopc329) eq esptc342

SB

Validity

0200

SB-10

ESOP2170

Sum of SB-1 through SB-9 must equal SB-10.

SB

Validity

0250

SB-14

ESOP2948

Sum of SB-11 through SB-13 must equal SB-14.

SB

Validity

0270

SB-15

ESOPC342

SC-15 must equal SB-15.

esptc342 eq esopc342

SB

Validity

0300

SB-15

ESOPC342

SB-10 minus SB-14 must equal SB-15.

esop2170 - esop2948 eq esopc342

20111231

No
Change
No
Change
No
Change
Archived

(esopc322 + esopc331 + esopc332 + esopc333 +
esopc334 + esopc335 + esopc336 + esopc337 +
esopc363 + esopc009 + esopc338) eq esop2170
(esopc339 + esopc340 + esopc341) eq esop2948

SB-M

Validity

0390

SB-M4

ESOPC349

FRY9ES 20121231

99991231

Revised

SB-M

Validity

0390

SB-M4

ESOPC349

FRY9ES 20081231

99991231

SB-M

Validity

0400

SB-M4a

ESOPC350

FRY9ES 20081231

99991231

SB-M

Validity

0410

SB-M4b

ESOPC351

SB-M4b must be greater than zero.

esopc351 gt 0

FRY9ES 20081231

99991231

SB-M

Validity

0420

SB-M7

ESOPC354

SB-M7 must equal “1” (yes) or “0” (no).

esopc354 eq 1 or esopc354 eq 0

FRY9ES 20081231

99991231

No
Change
No
Change
No
Change
No
Change

SB-M4 must be in the ccyy format and greater than or esopc349 ge 1974
equal to 1974.
SB-M4 must be in the yyyy format and greater than or esopc349 ge 1974
equal to 1974.
SB-M4a must equal “1” (SOP 76-3) or “2” (SOP 93-6). esopc350 eq 1 or esopc350 eq 2

SB-M

Validity

0430

SB-M8

ESOPC355

SB-M8 must equal “1” (yes) or “0” (no).

esopc355 eq 1 or esopc355 eq 0

FRY9ES 20081231
FRY9ES 20081231
FRY9ES 20081231
FRY9ES 20081231

DECEMBER 2012

SC

Each edit in the checklist must balance, rounding errors are not allowed. NOTE section follows edits.
Edit Type Edit
Target Item
MDRM
Edit Test
Number
Number
Validity
0035
SC-7
ESOPC323 Sum of SC-1a through SC-6 must equal SC-7.

FR Y-9ES: CHK-1 of 1

Quality (Q) and Intraseries (I) Edits for the FR Y-9ES
(Effective as of December 31, 2012)
Series

Effective
Start Date
FRY9ES 20081231

Effective End Edit
Date
Change
20111231
Ended

Schedule

Edit Type

SC

Quality

Edit
Target Item
Number
12
Financial Data

FRY9ES
FRY9ES
FRY9ES
FRY9ES
FRY9ES
FRY9ES
FRY9ES
FRY9ES
FRY9ES
FRY9ES
FRY9ES
FRY9ES
FRY9ES
FRY9ES
FRY9ES
FRY9ES
FRY9ES
FRY9ES
FRY9ES
FRY9ES

99991231
99991231
99991231
99991231
99991231
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99991231
99991231
99991231
99991231
99991231
99991231
99991231
99991231
99991231

SC
SC
SC
SC
SC
SC
SC
SC
SC
SC
SC
SC
SB
SB
SB
SB
SB
SB
SB
SB

Quality
Quality
Quality
Quality
Quality
Quality
Quality
Quality
Quality
Quality
Quality
Quality
Quality
Quality
Quality
Quality
Quality
Quality
Quality
Quality

9010
9010
9010
9010
9010
9020
9020
9020
9020
9020
9030
9030
9030
9030
9030
9030
9030
9030
9030
9030

20121231
20121231
20121231
20121231
20121231
20121231
20121231
20121231
20121231
20121231
20121231
20121231
20121231
20121231
20121231
20121231
20121231
20121231
20121231
20121231

DECEMBER 2012

Added
Added
Added
Added
Added
Added
Added
Added
Added
Added
Added
Added
Added
Added
Added
Added
Added
Added
Added
Added

SC-2
SC-3
SC-4
SC-5
SC-6
SC-8
SC-9
SC-10
SC-11
SC-12
SC-14
SC-15
SB-1
SB-2a
SB-2b
SB-3a
SB-3b
SB-4
SB-5
SB-6

NOTE section follows edits.
MDRM
Edit Test
Number
ESOPC318 Financial data should not be negative except for SC-1a,
SC-1b, SC-7, SC-13, and "Notes to the Financial
Statements for Employee Stock Ownership Plan Bank
Holding Companies" 1 through 5.

ESOPC318
ESOPC319
ESOPC320
ESOPC321
ESOP3328
ESOPC324
ESOPC330
ESOPC325
ESOPC326
ESOPC327
ESOPC329
ESPTC342
ESOPC322
ESOPC331
ESOPC332
ESOPC333
ESOPC334
ESOPC335
ESOPC336
ESOPC337

SC-2 should not be negative.
SC-3 should not be negative.
SC-4 should not be negative.
SC-5 should not be negative.
SC-6 should not be negative.
SC-8 should not be negative.
SC-9 should not be negative.
SC-10 should not be negative.
SC-11 should not be negative.
SC-12 should not be negative.
SC-14 should not be negative.
SC-15 should not be negative.
SB-1 should not be negative.
SB-2a should not be negative.
SB-2b should not be negative.
SB-3a should not be negative.
SB-3b should not be negative.
SB-4 should not be negative.
SB-5 should not be negative.
SB-6 should not be negative.

Alg Edit Test
(esopc318 ge 0 or esopc318 eq null) and (esopc319 ge 0
or esopc319 eq null)
and (esopc320 ge 0 or esopc320 eq null) and (esopc321
ge 0 or esopc321 eq
null) and (esop3328 ge 0 or esop3328 eq null) and
(esopc324 ge 0 or esopc324
eq null) and (esopc330 ge 0 or esopc330 eq null) and
(esopc325 ge 0 or
esopc325 eq null) and (esopc326 ge 0 or esopc326 eq
null) and (esopc327 ge 0
or esopc327 eq null) and (esopc329 ge 0 or esopc329 eq
null) and (esptc342 ge
0 or esptc342 eq null) and (esopc322 ge 0 or esopc322
eq null) and (esopc331
ge 0 or esopc331 eq null) and (esopc332 ge 0 or
esopc332 eq null) and
(esopc333 ge 0 or esopc333 eq null) and (esopc334 ge 0
or esopc334 eq null)
and (esopc335 ge 0 or esopc335 eq null) and (esopc336
ge 0 or esopc336 eq
null) and (esopc337 ge 0 or esopc337 eq null) and
(esopc363 ge 0 or esopc363
eq null) and (esopc009 ge 0 or esopc009 eq null) and
(esopc338 ge 0 or
esopc338 eq null) and (esop2170 ge 0 or esop2170 eq
null) and (esopc339 ge 0
or esopc339 eq null) and (esopc340 ge 0 or esopc340 eq
null) and
(esopc341 ge 0 or esopc341 eq null) and (esop2948 ge 0
or esop2948 eq null)
esopc318 ge 0 or esopc318 eq null
esopc319 ge 0 or esopc319 eq null
esopc320 ge 0 or esopc320 eq null
esopc321 ge 0 or esopc321 eq null
esop3328 ge 0 or esop3328 eq null
esopc324 ge 0 or esopc324 eq null
esopc330 ge 0 or esopc330 eq null
esopc325 ge 0 or esopc325 eq null
esopc326 ge 0 or esopc326 eq null
esopc327 ge 0 or esopc327 eq null
esopc329 ge 0 or esopc329 eq null
esptc342 ge 0 or esptc342 eq null
esopc322 ge 0 or esopc322 eq null
esopc331 ge 0 or esopc331 eq null
esopc332 ge 0 or esopc332 eq null
esopc333 ge 0 or esopc333 eq null
esopc334 ge 0 or esopc334 eq null
esopc335 ge 0 or esopc335 eq null
esopc336 ge 0 or esopc336 eq null
esopc337 ge 0 or esopc337 eq null

FR Y-9ES: EDIT-1 of 3

Quality (Q) and Intraseries (I) Edits for the FR Y-9ES
(Effective as of December 31, 2012)
Series

Effective End
Date
99991231
99991231
99991231
99991231
99991231
99991231
99991231
99991231
99991231
99991231
99991231
99991231
99991231
99991231
99991231
99991231
99991231
99991231
99991231
99991231
99991231
99991231
99991231
99991231
99991231

Edit
Change
Added
Added
Added
Added
Added
Added
Added
Added
Added
Added
Added
Added
Added
Added
Added
Added
Added
Added
Added
Added
Added
Added
Added
Added
No Change

FRY9ES 20121231
FRY9ES 20081231

99991231
99991231

FRY9ES 20081231

Target Item

Quality
Quality
Quality
Quality
Quality
Quality
Quality
Quality
Quality
Quality
Quality
Quality
Quality
Quality
Quality
Quality
Quality
Quality
Quality
Quality
Quality
Quality
Quality
Quality
Quality

Revised
SB
No Change SB

Quality
Quality

0625
0610

SB-10
SB-11

ESOP2170
ESOPC339

99991231

No Change SB-M

Quality

0690

SB-M2a

ESOPC343

FRY9ES 20081231
FRY9ES 20081231

99991231
99991231

No Change SB-M
No Change SB-M

Quality
Quality

0700
0710

SB-M2c
SB-M2d

ESOPC344
ESOPC345

FRY9ES 20081231

99991231

No Change SB-M

Quality

0713

SB-M2d

ESOPC345

FRY9ES 20081231
FRY9ES 20081231

99991231
99991231

No Change SB-M
No Change SB-M

Quality
0720
Intraseries 0730

SB-M2f
SB-M3a

ESOPC346
ESOPC347

FRY9ES 20081231

99991231

No Change SB-M

Intraseries 0740

SB-M3b

ESOPC348

FRY9ES 20081231

99991231

No Change SB-M

Quality

0750

SB-M4a

ESOPC350

FRY9ES 20121231

99991231

Added

Quality

0755

SB-M4a

ESOPC350

If SB-M4a equals 2 (SOP 93-6), then SB-M4 should be
greater than 1994.

if esopc350 eq 2 then esopc349 ge 1994

FRY9ES 20081231
FRY9ES 20081231

99991231
99991231

No Change SB-M
No Change SB-M

Intraseries 0760
Quality
0770

SB-M4a
SB-M4b

ESOPC350
ESOPC351

SB-M4a (current) should equal SB-M4a (previous).
Sum of SB-M2c and SB-M2f should be greater than SBM4b.

esopc350-p0 eq esopc350-p1
(esopc344 + esopc346) gt esopc351

DECEMBER 2012

Schedule

Edit Type

SB
SB
SB
SB
SB
SB
SB
SB
SB
SB-M
SB-M
SB-M
SB-M
SB-M
SB-M
SB-M
SB-M
SB-M
SB-M
SB-M
SB-M
SB-M
SB-M
SB-M
SB

NOTE section follows edits.
MDRM
Edit Test
Number
ESOPC363 SB-7 should not be negative.
ESOPC009 SB-8 should not be negative.
ESOPC338 SB-9 should not be negative.
ESOP2170 SB-10 should not be negative.
ESOPC339 SB-11 should not be negative.
ESOPC340 SB-12 should not be negative.
ESOPC341 SB-13 should not be negative.
ESOP2948 SB-14 should not be negative.
ESOPC342 SB-15 should not be negative.
ESOPC343 SB-M2a should not be negative.
ESOP7285 SB-M2b should not be negative.
ESOPC344 SB-M2c should not be negative.
ESOPC345 SB-M2d should not be negative.
ESOP7286 SB-M2e should not be negative.
ESOPC346 SB-M2f should not be negative.
ESOPC347 SB-M3a should not be null should not be negative.
ESOPC348 SB-M3b should not be null should not be negative.
ESOPC349 SB-M4 should not be negative.
ESOPC350 SB-M4a should not be negative.
ESOPC351 SB-M4b should not be negative.
ESOPC352 SB-M5 should not be negative.
ESOPC353 SB-M6 should not be negative.
ESOPC354 SB-M7 should not be negative.
ESOPC355 SB-M8 should not be negative.
ESOPC338 If SC-2 is greater than zero, then the sum of SB-1, SB-2b,
SB-3b, SB-4, and SB-9 should be greater than zero.

Edit
Number
9030
9030
9030
9030
9030
9030
9030
9030
9030
9040
9040
9040
9040
9040
9040
9050
9050
9060
9060
9060
9060
9060
9060
9060
0600

FRY9ES
FRY9ES
FRY9ES
FRY9ES
FRY9ES
FRY9ES
FRY9ES
FRY9ES
FRY9ES
FRY9ES
FRY9ES
FRY9ES
FRY9ES
FRY9ES
FRY9ES
FRY9ES
FRY9ES
FRY9ES
FRY9ES
FRY9ES
FRY9ES
FRY9ES
FRY9ES
FRY9ES
FRY9ES

Effective
Start Date
20121231
20121231
20121231
20121231
20121231
20121231
20121231
20121231
20121231
20121231
20121231
20121231
20121231
20121231
20121231
20121231
20121231
20121231
20121231
20121231
20121231
20121231
20121231
20121231
20081231

SB-M

SB-7
SB-8
SB-9
SB-10
SB-11
SB-12
SB-13
SB-14
SB-15
SB-M2a
SB-M2b
SB-M2c
SB-M2d
SB-M2e
SB-M2f
SB-M3a
SB-M3b
SB-M4
SB-M4a
SB-M4b
SB-M5
SB-M6
SB-M7
SB-M8
SB-9

Alg Edit Test
esopc363 ge 0 or esopc363 eq null
esopc009 ge 0 or esopc009 eq null
esopc338 ge 0 or esopc338 eq null
esop2170 ge 0 or esop2170 eq null
esopc339 ge 0 or esopc339 eq null
esopc340 ge 0 or esopc340 eq null
esopc341 ge 0 or esopc341 eq null
esop2948 ge 0 or esop2948 eq null
esopc342 ge 0 or esopc342 eq null
esopc343 ge 0 or esopc343 eq null
esop7285 ge 0 or esop7285 eq null
esopc344 ge 0 or esopc344 eq null
esopc345 ge 0 or esopc345 eq null
esop7286 ge 0 or esop7286 eq null
esopc346 ge 0 or esopc346 eq null
esopc347 ge 0
esopc348 ge 0
esopc349 ge 0 or esopc349 eq null
esopc350 ge 0 or esopc350 eq null
esopc351 ge 0 or esopc351 eq null
esopc352 ge 0 or esopc352 eq null
esopc353 ge 0 or esopc353 eq null
esopc354 ge 0 or esopc354 eq null
esopc355 ge 0 or esopc355 eq null
if esopc318 gt 0 then (esopc322 + esopc332 + esopc334
+ esopc335 + esopc338) gt 0

If SB-10 is not null, then SB-M1 should not be null.
if esop2170 ne null then text9152 ne null
If SB-11 is greater than zero, then SC-8 should be greater if esopc339 gt 0 then esopc324 gt 0
than zero.
If SB-M2a is greater than zero, then SB-M2d should
if esopc343 gt 0 then esopc345 eq 0
equal zero.
SB-M2c should be less than or equal to SB-M2a.
esopc344 le esopc343
Sum of SB-M2a and SB-M2d should be greater than
(esopc343 + esopc345) gt 0
zero.
If SB-M2d is greater than zero, then SB-M2a should
if esopc345 gt 0 then esopc343 eq 0
equal zero.
SB-M2f should be less than or equal to SB-M2d.
esopc346 le esopc345
SB-M3a (current) should not be greater than 125% of SB- esopc347-p0 le (1.25 * esopc347-p1)
M3a (previous).
SB-M3b (current) should not be greater than 125% of SB- esopc348-p0 le (1.25 * esopc348-p1)
M3b (previous).
If SB-M4a equals 1 (SOP 76-3), then SB-M4 should be
if esopc350 eq 1 then esopc349 ge 1975 and esopc349
greater than or equal to 1975 and less than 1994.
lt 1994

FR Y-9ES: EDIT-2 of 3

Quality (Q) and Intraseries (I) Edits for the FR Y-9ES
(Effective as of December 31, 2012)
Series

NOTE section follows edits.
MDRM
Edit Test
Number
ESOPC356 If financial data is not equal to null or zero, then text
data should not be null.

Effective
Start Date
FRY9ES 20081231

Effective End Edit
Schedule Edit Type
Date
Change
99991231
No Change Notes to
Quality
the
Financial
Statements

Edit
Target Item
Number
0800
FN1

FRY9ES 20081231

99991231

No Change Notes to
Quality
the
Financial
Statements

0801

FN1

ESOPC356

If text data is not equal to null, then financial data
should not equal null or zero.

if textc356 ne null then esopc356 ne null or esopc356
ne 0

FRY9ES 20081231

99991231

No Change Notes to
Quality
the
Financial
Statements

0802

FN2

ESOPC357

If financial data is not equal to null or zero, then text
data should not be null.

if esopc357 ne null or esopc357 ne 0 then textc357 ne
null

FRY9ES 20081231

99991231

No Change Notes to
Quality
the
Financial
Statements

0803

FN2

ESOPC357

If text data is not equal to null, then financial data
should not equal null or zero.

if textc357 ne null then esopc357 ne null or esopc357
ne 0

FRY9ES 20081231

99991231

No Change Notes to
Quality
the
Financial
Statements

0804

FN3

ESOPC358

If financial data is not equal to null or zero, then text
data should not be null.

if esopc358 ne null or esopc358 ne 0 then textc358 ne
null

FRY9ES 20081231

99991231

No Change Notes to
Quality
the
Financial
Statements

0805

FN3

ESOPC358

If text data is not equal to null, then financial data
should not equal null or zero.

if textc358 ne null then esopc358 ne null or esopc358
ne 0

FRY9ES 20081231

99991231

No Change Notes to
Quality
the
Financial
Statements

0806

FN4

ESOPC359

If financial data is not equal to null or zero, then text
data should not be null.

if esopc359 ne null or esopc359 ne 0 then textc359 ne
null

FRY9ES 20081231

99991231

No Change Notes to
Quality
the
Financial
Statements

0807

FN4

ESOPC359

If text data is not equal to null, then financial data
should not equal null or zero.

if textc359 ne null then esopc359 ne null or esopc359
ne 0

FRY9ES 20081231

99991231

No Change Notes to
Quality
the
Financial
Statements

0808

FN5

ESOPC360

If financial data is not equal to null or zero, then text
data should not be null.

if esopc360 ne null or esopc360 ne 0 then textc360 ne
null

FRY9ES 20081231

99991231

No Change Notes to
Quality
the
Financial
Statements

0809

FN5

ESOPC360

If text data is not equal to null, then financial data
should not equal null or zero.

if textc360 ne null then esopc360 ne null or esopc360
ne 0

DECEMBER 2012

Alg Edit Test
if esopc356 ne null or esopc356 ne 0 then textc356 ne
null

FR Y-9ES: EDIT-3 of 3