Financial Statements for Employee Stock Ownership Plan Holding Companies

INSTRUCTIONS FOR PREPARATION OF

Financial Statements for Employee Stock
Ownership Plan Holding Companies
FR Y–9ES

Who Must Report

B. Shifts in Reporting Status

A. Reporting Criteria

If the status of an ESOP holding company changes from
a one bank ESOP holding company to a multibank ESOP
holding company, or vice versa, either directly or indirectly through a merger, acquisition, consolidation or
sale, the ESOP holding company should continue to file
the FR Y-9ES. When an event such as this occurs, the
ESOP holding company should disclose this in the Notes
to the Financial Statements of the FR Y-9ES.

The Financial Statements for Employee Stock Ownership
Plan Holding Companies (FR Y-9ES) must be filed by
all employee stock ownership plans (ESOPs) that are
also bank holding companies1 or savings and loan
holding companies2 (collectively ‘‘holding companies’’)
as of the last calendar day of the calendar year. ESOP
holding companies should file the FR Y-9ES; no other
FR Y-9 series form is required. However, holding companies that are subsidiaries of ESOP holding companies
(i.e., a tiered holding company) must submit (a) the
Consolidated Financial Statements for Holding
Companies—FR Y-9C, (b) the Parent Company Only
Financial Statements for Large Holding Companies—FR
Y-9LP or (c) the Parent Company Only Financial Statements for Small 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 these instructions 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. 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.’’).
2. 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.
FR Y-9ES
General Instructions December 2013

When there is dilution of the percentage of employer
securities owned by the ESOP 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 holding company.

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

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

General Instructions

Form 5500 by filing Form 5558, the submission 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
holding companies that have not received an extension
with the IRS and October 15 for ESOP holding companies that have received an extension. However, ESOP
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 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 holding companies are required to prepare and file
the Financial Statements for Employee Stock Ownership
Plan 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 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 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 holding
company’s interpretation, the Federal Reserve may require
the ESOP 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 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 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. A zero should be entered whenever an ESOP
holding company can participate in an activity, but may
not, on the report date, have any outstanding balances.
An item should be left blank if the ESOP holding
company is not involved in a transaction.
There may be areas in which an ESOP 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.
FR Y-9ES
General Instructions December 2013

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.
On the Financial Statements for Employee Stock Ownership Plan 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.

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 holding company may
request confidential treatment for the Financial Statements for Employee Stock Ownership Plan Holding
Companies (FR Y-9ES) if the ESOP 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 2013

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

F. Verification and Signature
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.
Signature. The Financial Statements for Employee Stock
Ownership Plan 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 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
holding company’s files.

G. Amended Reports
The Federal Reserve may require the filing of amended
Financial Statements for Employee Stock Ownership
Plan Holding Companies if the report previously submitted contains significant errors. In addition, an ESOP
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 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 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

FR Y-9ES
General Instructions December 2013

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 Employer contributions.

Investment Income

Line Item 5 Participant contributions.

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 Dividend income.
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.

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.

Line Item 6 Other additions.

Line Item 1(b) Other securities.

Line Item 7 Total additions.

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.

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

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 2013

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.

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 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.

Line Item 13 Net increase (decrease).

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

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 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 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 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 End of year: net assets available for
benefits.
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 2013

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 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

December 2013

Line Item 2(a) Equity securities.
Report the fair value of equity securities in a 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
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 Cash surrender value of life
insurance.
Report the cash surrender value of any insurance policy
on a bank or holding company officer or employee for
which the ESOP holds as an investment to defray costs of
employee benefits.
Line Item 9 Other assets.
List any other non-qualifying assets that have not been
described in items 1 through 8.
Line Item 10 Total assets.

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

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
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.

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.

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 6 Participants’ contribution receivable.

Line Item 14 Total liabilities.

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.’’)

Report the sum of items 11, 12, and 13.

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.

Line Item 15 Net Assets Available for Benefits.

Line Item 7 Dividends and interest receivable.

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.

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

For leveraged ESOPs, the sum of the participant’s individual account balances should equal the fair value of the

SB-2

Schedule SB

FR Y-9ES
December 2013

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

Report the percentage of holding company shares outstanding that are held by the ESOP, including both
allocated and unallocated shares.

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 holding
company shares held by ESOP.
Report the total number of 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

Line Item M2(e) Percentage of holding company
shares held by ESOP.

December 2013

Line Item M2(f) Number of holding company
shares allocated to ESOP participants.
Report the total number of 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)

Holding company balance sheet.

Report the amount of the contra-equity account that is
reported on the holding company’s balance sheet. A
holding company that has guaranteed the ESOP longterm debt would include the offsetting debit to the
SB-M-1

Schedule SB-M

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 2013

Glossary

The definitions in this Glossary apply to the Financial
Statements for Employee Stock Ownership Plan 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 2013

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 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 closely
GL-1

Glossary

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.
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.’’
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.
Under Section 10(b)(2) of the Home Owners’ Loan Act
and Section 238.11 of Regulation LL, an ESOP is
required to register, and be regulated, as a savings and
loan holding company before acquiring control of more
than 25 percent of any class of voting securities of a
savings and loan holding company. Under the rebuttable
GL-2

presumption of control of Section 228.21(d)(2)(ii) of
Regulation LL, an ESOP also is presumed to control a
savings and loan holding company if it acquires control
of more than 5 percent of the outstanding shares of any
class of voting securities of a savings association or other
company, and together with the interests held by its
management officials and principal shareholders (including members of the immediate families of either), owns,
controls, or holds with power to vote 25 percent or more
of the outstanding shares of any class of voting securities
of the savings association or other company. In this
situation, unless the control presumption can be successfully rebutted, an ESOP must register, and be regulated,
as a ‘‘savings and loan holding company.’’
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
Glossary

FR Y-9ES
December 2013

Glossary

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.’’
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 holding comFR Y-9ES
Glossary December 2013

pany, 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.
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.
Holding Company: See ‘‘Control.’’
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
GL-3

Glossary

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 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).

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
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.’’)

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
liabilities do not include participant’s accumulated plan
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
GL-4

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
Glossary

FR Y-9ES
December 2013

Glossary

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.

ERISA 407(d)(6)(A)]. Deposit accounts (i.e. certificates
of deposit, checking or money market accounts) are not
qualifying employer securities.

Pension Benefits: Periodic (usually monthly) payments
made to a person, or beneficiary, who has retired from
employment.

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
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.

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:
(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;

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.

(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.

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.

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),

Sponsoring Employer: The employer who has formally
adopted the employee benefit plan as defined in the plan
document.

FR Y-9ES
Glossary December 2013

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, 2013)
Series

Effective End Edit
Date
Change
99991231
Revised

Schedule

Edit Type

FRY9ES

Effective
Start Date
20131231

SC

Quality

Edit
Target Item
Number
9010
SC-2

FRY9ES

20131231

99991231

Revised

SC

Quality

9010

FRY9ES

20131231

99991231

Revised

SC

Quality

FRY9ES

20131231

99991231

Revised

SC

FRY9ES

20131231

99991231

Revised

FRY9ES

20131231

99991231

FRY9ES

20131231

FRY9ES

NOTE section follows edits.
MDRM Number Edit Test

Alg Edit Test

ESOPC318

SC-2 should not be null and should not be negative. esopc318 ne null and esopc318 ge 0

SC-3

ESOPC319

SC-3 should not be null and should not be negative. esopc319 ne null and esopc319 ge 0

9010

SC-4

ESOPC320

SC-4 should not be null and should not be negative. esopc320 ne null and esopc320 ge 0

Quality

9010

SC-5

ESOPC321

SC-5 should not be null and should not be negative. esopc321 ne null and esopc321 ge 0

SC

Quality

9010

SC-6

ESOP3328

SC-6 should not be null and should not be negative. esop3328 ne null and esop3328 ge 0

Revised

SC

Quality

9020

SC-8

ESOPC324

SC-8 should not be null and should not be negative. esopc324 ne null and esopc324 ge 0

99991231

Revised

SC

Quality

9020

SC-9

ESOPC330

SC-9 should not be null and should not be negative. esopc330 ne null and esopc330 ge 0

20131231

99991231

Revised

SC

Quality

9020

SC-10

ESOPC325

esopc325 ne null and esopc325 ge 0

FRY9ES

20131231

99991231

Revised

SC

Quality

9020

SC-11

ESOPC326

FRY9ES

20131231

99991231

Revised

SC

Quality

9020

SC-12

ESOPC327

FRY9ES

20131231

99991231

Revised

SC

Quality

9030

SC-14

ESOPC329

FRY9ES

20131231

99991231

Revised

SC

Quality

9030

SC-15

ESPTC342

FRY9ES

20131231

99991231

Revised

SB

Quality

9030

SB-1

ESOPC322

SC-10 should not be null and should not be
negative.
SC-11 should not be null and should not be
negative.
SC-12 should not be null and should not be
negative.
SC-14 should not be null and should not be
negative.
SC-15 should not be null and should not be
negative.
SB-1 should not be null and should not be negative.

FRY9ES

20131231

99991231

Revised

SB

Quality

9030

SB-2a

ESOPC331

esopc331 ne null and esopc331 ge 0

FRY9ES

20131231

99991231

Revised

SB

Quality

9030

SB-2b

ESOPC332

FRY9ES

20131231

99991231

Revised

SB

Quality

9030

SB-3a

ESOPC333

FRY9ES

20131231

99991231

Revised

SB

Quality

9030

SB-3b

ESOPC334

FRY9ES

20131231

99991231

Revised

SB

Quality

9030

SB-4

ESOPC335

SB-2a should not be null and should not be
negative.
SB-2b should not be null and should not be
negative.
SB-3a should not be null and should not be
negative.
SB-3b should not be null and should not be
negative.
SB-4 should not be null and should not be negative.

FRY9ES

20131231

99991231

Revised

SB

Quality

9030

SB-5

ESOPC336

SB-5 should not be null and should not be negative. esopc336 ne null and esopc336 ge 0

FRY9ES

20131231

99991231

Revised

SB

Quality

9030

SB-6

ESOPC337

SB-6 should not be null and should not be negative. esopc337 ne null and esopc337 ge 0

FRY9ES

20131231

99991231

Revised

SB

Quality

9030

SB-7

ESOPC363

SB-7 should not be null and should not be negative. esopc363 ne null and esopc363 ge 0

FRY9ES

20131231

99991231

Revised

SB

Quality

9030

SB-8

ESOPC009

SB-8 should not be null and should not be negative. esopc009 ne null and esopc009 ge 0

FRY9ES

20131231

99991231

Revised

SB

Quality

9030

SB-9

ESOPC338

SB-9 should not be null and should not be negative. esopc338 ne null and esopc338 ge 0

FRY9ES

20131231

99991231

Revised

SB

Quality

9030

SB-10

ESOP2170

FRY9ES

20131231

99991231

Revised

SB

Quality

9030

SB-11

ESOPC339

FRY9ES

20131231

99991231

Revised

SB

Quality

9030

SB-12

ESOPC340

FRY9ES

20131231

99991231

Revised

SB

Quality

9030

SB-13

ESOPC341

SB-10 should not be null and should not be
negative.
SB-11 should not be null and should not be
negative.
SB-12 should not be null and should not be
negative.
SB-13 should not be null and should not be
negative.

December 2013

esopc326 ne null and esopc326 ge 0
esopc327 ne null and esopc327 ge 0
esopc329 ne null and esopc329 ge 0
esopc342 ne null and esopc342 ge 0
esopc322 ne null and esopc322 ge 0

esopc332 ne null and esopc332 ge 0
esopc333 ne null and esopc333 ge 0
esopc334 ne null and esopc334 ge 0
esopc335 ne null and esopc335 ge 0

esop2170 ne null and esop2170 ge 0
esopc339 ne null and esopc339 ge 0
esopc340 ne null and esopc340 ge 0
esopc341 ne null and esopc341 ge 0

FR Y-9ES: EDIT-1 of 4

Quality (Q) and Intraseries (I) Edits for the FR Y-9ES
(Effective as of December 31, 2013)
Series

Effective End Edit
Date
Change
99991231
Revised

Schedule

Edit Type

FRY9ES

Effective
Start Date
20131231

MDRM Number Edit Test

Alg Edit Test

Quality

Edit
Target Item
Number
9030
SB-14

SB

ESOP2948

esop2948 ne null and esop2948 ge 0

SB

Quality

9030

SB-15

ESOPC342

Revised

SB-M

Quality

9040

SB-M2a

ESOPC343

99991231

Revised

SB-M

Quality

9040

SB-M2b

ESOP7285

20131231

99991231

Revised

SB-M

Quality

9040

SB-M2c

ESOPC344

FRY9ES

20131231

99991231

Revised

SB-M

Quality

9040

SB-M2d

ESOPC345

FRY9ES

20131231

99991231

Revised

SB-M

Quality

9040

SB-M2e

ESOP7286

FRY9ES

20131231

99991231

Revised

SB-M

Quality

9040

SB-M2f

ESOPC346

FRY9ES

20131231

99991231

Revised

SB-M

Quality

9050

SB-M3a

ESOPC347

FRY9ES

20131231

99991231

Revised

SB-M

Quality

9050

SB-M3b

ESOPC348

FRY9ES

20131231

99991231

Revised

SB-M

Quality

9060

SB-M4

ESOPC349

FRY9ES

20131231

99991231

Revised

SB-M

Quality

9060

SB-M4a

ESOPC350

FRY9ES

20131231

99991231

Revised

SB-M

Quality

9060

SB-M4b

ESOPC351

FRY9ES

20131231

99991231

Revised

SB-M

Quality

9060

SB-M5

ESOPC352

FRY9ES

20131231

99991231

Revised

SB-M

Quality

9060

SB-M6

ESOPC353

FRY9ES

20131231

99991231

Revised

SB-M

Quality

9060

SB-M7

ESOPC354

FRY9ES

20131231

99991231

Revised

SB-M

Quality

9060

SB-M8

ESOPC355

FRY9ES

20081231

99991231

No Change SB

Quality

0600

SB-9

ESOPC338

FRY9ES

20121231

99991231

Revised

SB

Quality

0625

SB-10

ESOP2170

SB-14 should not be null and should not be
negative.
SB-15 should not be null and should not be
negative.
SB-M2a should not be null and should not be
negative.
SB-M2b should not be null and should not be
negative.
SB-M2c should not be null and should not be
negative.
SB-M2d should not be null and should not be
negative.
SB-M2e should not be null and should not be
negative.
SB-M2f should not be null and should not be
negative.
SB-M3a should not be null and should not be
negative.
SB-M3b should not be null and should not be
negative.
SB-M4 should not be null and should not be
negative.
SB-M4a should not be null and should not be
negative.
SB-M4b should not be null and should not be
negative.
SB-M5 should not be null and should not be
negative.
SB-M6 should not be null and should not be
negative.
SB-M7 should not be null and should not be
negative.
SB-M8 should not be null and should not be
negative.
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.
If SB-10 is not null, then SB-M1 should not be null.

FRY9ES

20131231

99991231

Revised

FRY9ES

20131231

99991231

FRY9ES

20131231

FRY9ES

FRY9ES

20081231

99991231

No Change SB

Quality

0610

SB-11

ESOPC339

if esopc339 gt 0 then esopc324 gt 0

FRY9ES

20131231

99991231

Added

Quality

0650

SB-11

ESOPC339

FRY9ES

20081231

99991231

No Change SB-M

Quality

0690

SB-M2a

ESOPC343

FRY9ES

20081231

99991231

No Change SB-M

Quality

0700

SB-M2c

ESOPC344

If SB-11 is greater than zero, then SC-8 should be
greater than zero.
If SB-11 is greater than zero, then the sum of SBM3a and SB-M3b should be equal to or less than
SB-11.
If SB-M2a is greater than zero, then SB-M2d should
equal zero.
SB-M2c should be less than or equal to SB-M2a.

FRY9ES

20081231

99991231

No Change SB-M

Quality

0710

SB-M2d

ESOPC345

FRY9ES

20081231

99991231

No Change SB-M

Quality

0713

SB-M2d

ESOPC345

FRY9ES

20081231

99991231

No Change SB-M

Quality

0720

SB-M2f

ESOPC346

December 2013

SB

esopc342 ne null and esopc342 ge 0
esopc343 ne null and esopc343 ge 0
esop7285 ne null and esop7285 ge 0
esopc344 ne null and esopc344 ge 0
esopc345 ne null and esopc345 ge 0
esop7286 ne null and esop7286 ge 0
esopc346 ne null and esopc346 ge 0
esopc347 ne null and esopc347 ge 0
esopc348 ne null and esopc348 ge 0
esopc349 ne null and esopc349 ge 0
esopc350 ne null and esopc350 ge 0
esopc351 ne null and esopc351 ge 0
esopc352 ne null and esopc352 ge 0
esopc353 ne null and esopc353 ge 0
esopc354 ne null and esopc354 ge 0
esopc355 ne null and esopc355 ge 0
if esopc318 gt 0 then (esopc322 + esopc332 + esopc334
+ esopc335 + esopc338) gt 0
if esop2170 ne null then text9152 ne null

if esopc339 gt 0 then (esopc347 + esopc348) le esopc339

if esopc343 gt 0 then esopc345 eq 0
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

FR Y-9ES: EDIT-2 of 4

Quality (Q) and Intraseries (I) Edits for the FR Y-9ES
(Effective as of December 31, 2013)
Series

Effective End Edit
Schedule
Date
Change
99991231
No Change SB-M

Edit Type

FRY9ES

Effective
Start Date
20081231

MDRM Number Edit Test

Alg Edit Test

Intraseries

Edit
Target Item
Number
0730
SB-M3a

ESOPC347

esopc347-p0 le (1.25 * esopc347-p1)

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

Revised

Quality

0755

SB-M4a

ESOPC350

FRY9ES

20081231

99991231

No Change SB-M

Intraseries

0760

SB-M4a

ESOPC350

FRY9ES

20081231

99991231

No Change SB-M

Quality

0770

SB-M4b

ESOPC351

FRY9ES

20081231

99991231

No Change Notes to
Quality
the
Financial
Statements

0800

FN1

ESOPC356

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

December 2013

SB-M

SB-M3a (current) should not be greater than 125%
of SB-M3a (previous).
SB-M3b (current) should not be greater than 125%
of SB-M3b (previous).
If SB-M4a equals 1 (SOP 76-3), then SB-M4 should
be greater than or equal to 1975 and less than
1994.
If SB-M4a equals 2 (SOP 93-6), then SB-M4 should
be greater than or equal to 1994.
SB-M4a (current) should equal SB-M4a (previous).

esopc348-p0 le (1.25 * esopc348-p1)
if esopc350 eq 1 then esopc349 ge 1975 and esopc349 lt
1994
if esopc350 eq 2 then esopc349 ge 1994
esopc350-p0 eq esopc350-p1

Sum of SB-M2c and SB-M2f should be greater than (esopc344 + esopc346) gt esopc351
SB-M4b.
If financial data is not equal to null or zero, then
if esopc356 ne null or esopc356 ne 0 then textc356 ne
text data should not be null.
null

FR Y-9ES: EDIT-3 of 4

Quality (Q) and Intraseries (I) Edits for the FR Y-9ES
(Effective as of December 31, 2013)
Series

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

Edit
Target Item
Number
0808
FN5

MDRM Number Edit Test

Alg Edit Test

FRY9ES

Effective
Start Date
20081231

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

0809

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 2013

No Change Notes to
Quality
the
Financial
Statements

FN5

FR Y-9ES: EDIT-4 of 4