Quarterly Savings and Loan Holding Company Report

%3"'5
BT
PG
'FCSVBSZ




INSTRUCTIONS FOR PREPARATION OF

Financial Statements for
Holding Companies
For purposes of this report, all references to ‘‘bank(s)’’ and ‘‘associated bank(s)’’ are
inclusive of ‘‘savings association(s)’’ unless otherwise noted.

GENERAL INSTRUCTIONS
Who Must Report
A. Reporting Criteria
All bank holding companies, savings and loan holding
companies,1 and securities holding companies (collectively ‘‘holding companies’’) regardless of size, are
required to submit financial statements to the Federal
Reserve, unless specifically exempted (see description of
exemptions below).
The specific reporting requirements for each holding
company depend upon the size of the holding company,
or other specific factors as determined by the appropriate
Federal Reserve Bank. Holding companies must file the
appropriate forms as described below:
(1) Holding Companies with Total Consolidated Assets
of $500 Million or More. Holding companies with
total consolidated assets of $500 million or more (the
top tier of a multi-tiered holding company, when
applicable) must file:
(a) the Consolidated Financial Statements for Holding Companies (FR Y-9C) quarterly, as of the
last calendar day of March, June, September, and
December.
(b) the Parent Company Only Financial Statements
for Large Holding Companies (FR Y-9LP) quarterly, as of the last calendar day of March, June,
September, and December.
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 for more
information.
FR Y9C
General Instructions September 2013

Each holding company that files the FR Y-9C
must submit the FR Y-9LP for its parent company.
For tiered holding companies. When holding companies with total consolidated assets of $500 million,
or more, own or control, or are owned or controlled
by, other holding companies (i.e., are tiered holding
companies), only the top-tier holding company must
file the FR Y-9C for the consolidated holding company organization unless the top-tier holding company is exempt from reporting the FR Y-9C. If a
top-tier holding company is exempt from reporting
the FR Y-9C, then the lower-tier holding company
(with total consolidated assets of $500 million or
more) must file the FR Y-9C.
In addition, such tiered holding companies, regardless of the size of the subsidiary holding companies,
must also submit, or have the top-tier holding company subsidiary submit, a separate FR Y-9LP for
each lower-tier holding company of the top-tier
holding company.
(2) Holding Companies that are Employee Stock Ownership Plans. Holding companies that are employee
stock ownership plans (ESOPs) as of the last calendar
day of the calendar year must file the Financial
Statements for Employee Stock Ownership Plan Holding Companies (FR Y-9ES) on an annual basis, as of
December 31. 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 the appropriate FR Y-9 series in
accordance with holding company reporting requirements.
(3) Holding Companies with Total Consolidated Assets
of Less Than $500 Million. Holding companies with
total consolidated assets of less than $500 million
must file the Parent Company Only Financial Statements for Small Holding Companies (FR Y-9SP) on
GEN-1

General Instructions

a semiannual basis, as of the last calendar day of June
and December.2
For tiered holding companies. When holding companies with total consolidated assets of less than
$500 million, own or control, or are owned or
controlled by, other holding companies (i.e., are
tiered holding companies), the top-tier holding company must file the FR Y-9SP for the top-tier parent
company of the holding company. In addition, such
tiered holding companies must also submit, or have
the holding company subsidiary submit, a separate
FR Y-9SP for each lower-tier holding company.
When a holding company that has total consolidated
assets of less than $500 million is a subsidiary of a
holding company that files the FR Y-9C, the holding
company that has total consolidated assets of less
than $500 million would report on the FR Y-9LP
rather than the FR Y-9SP.
The instructions for the FR Y-9LP, FR Y-9ES, and the
FR Y-9SP are not included in this booklet but may be
obtained from the Federal Reserve Bank in the district
where the holding company files its reports, or may be
found on the Federal Reserve Board’s public website
(www.federalreserve.gov/boarddocs/reportforms).

B. Exemptions from Reporting the
Holding Company Financial
Statements
The following holding companies do not have to file
holding company financial statements:

2. The Reserve Bank with whom the reporting holding company files its
reports may require that a holding company with total consolidated assets
of less than $500 million submit the FR Y-9C and the FR Y-9LP reports to
meet supervisory needs. Reserve Banks will consider such criteria including, but not limited to, whether the holding company (1) is engaged in
significant nonbanking activities either directly or through a nonbank
subsidiary; (2) conducts significant off-balance-sheet activities, including
securitizations or managing or administering assets for third parties, either
directly or through a nonbank subsidiary; or (3) has a material amount of
debt or equity securities (other than trust preferred securities) outstanding
that are registered with the Securities and Exchange Commission.
In addition, any holding company that is not subject to the Federal
Reserve’s Capital Adequacy Guidelines, but nonetheless elects to comply
with the guidelines, are required to file a complete FR Y-9C and FR Y-9LP
report, and generally would not be permitted to revert back to filing the FR
Y-9SP report in any subsequent periods.

GEN-2

(1) a holding company that has been granted an exemption under Section 4(d) of the Bank Holding Company Act; or
(2) a ‘‘qualified foreign banking organization’’ as defined
by Section 211.23(a) of Regulation K (12 CFR
211.23(a)) that controls a U.S. subsidiary bank.
Holding companies that are not required to file under the
above criteria may be required to file this report by the
Federal Reserve Bank of the district in which they are
registered.

C. Shifts in Reporting Status
A top-tier holding company that reaches $500 million or
more in total consolidated assets as of June 30 of the
preceding year must begin reporting the FR Y-9C and the
FR Y-9LP in March of the current year, and any lowertier holding companies must begin reporting the FR
Y-9LP in March of the current year. If a top-tier holding
company reaches $500 million or more in total consolidated assets due to a business combination, a reorganization, or a branch acquisition that is not a business
combination, then the holding company must begin
reporting the FR Y-9C and the FR Y-9LP with the first
quarterly report date following the effective date of the
business combination, reorganization, or branch acquisition, and any lower-tier holding companies must begin
reporting the FR Y-9LP with the first quarterly report
date following the effective date. In general, once a
holding company reaches or exceeds $500 million in
total consolidated assets and begins filing the FR Y-9C
and FR Y-9LP, it should file a complete FR Y-9C and FR
Y-9LP going forward (and any lower-tier holding companies should file a complete FR Y-9LP going forward).
If a holding company’s total consolidated assets should
subsequently fall to less than $500 million for four
consecutive quarters, then the holding company may
revert to filing the FR Y-9SP (and any lower-tier holding
companies in those organizations may revert to filing the
FR Y-9SP).

Where to Submit the Reports
Electronic Submission
All holding companies must submit their completed
reports electronically. Holding companies should contact
their district Reserve Bank or go to www.frbservices.org/
centralbank/reportingcentral/index.html for procedures
for electronic submission.
FR Y9C
General Instructions March 2013

General Instructions

When to Submit the Reports
The Consolidated Financial Statements for Holding Companies (FR Y-9C) are required to be submitted as of
March 31, June 30, September 30, and December 31. The
submission date for holding companies is 40 calendar
days after the March 31, June 30, and September 30 as of
dates unless that day falls on a weekend or holiday
(subject to timely filing provisions). The submission date
for holding companies is 45 calendar days after the
December 31 as of date. For example, the June 30 report
must be received by August 9, and the December 31 report
by February 14.
The term ‘‘submission date’’ is defined as the date by
which the Federal Reserve must receive the holding
company’s FR Y-9C.
If the submission deadline falls on a weekend or holiday,
the report must be received on the first business day after
the Saturday, Sunday, or holiday. Earlier submission aids
the Federal Reserve in reviewing and processing the
reports and is encouraged. No extensions of time for
submitting reports are granted.
The reports are due by the end of the reporting day on
the submission date (5:00 P.M. at each district Reserve
Bank).

How to Prepare the Reports
A. Applicability of GAAP, Consolidation
Rules and SEC Consistency
Holding companies are required to prepare and file the
Consolidated Financial Statements for Holding Companies in accordance with generally accepted accounting
principles (GAAP) and these instructions. All reports
shall be prepared in a consistent manner. The holding
company’s financial records shall be maintained in such a
manner and scope so as to ensure that the Consolidated
Financial Statements for Holding Companies can be
prepared and filed in accordance with these instructions
and reflect a fair presentation of the holding company’s
financial condition and results of operations.
Holding companies should retain workpapers and other
records used in the preparation of these reports.
Subsequent Events
Subsequent events are events or transactions that occur
after the FR Y-9C balance sheet date, e.g., December 31,
FR Y9C
General Instructions December 2014

but before the FR Y-9C report is filed. Consistent with
ASC Topic 855, Subsequent Events (formerly FASB
Statement No. 165 ‘‘Subsequent Events’’), an institution
shall recognize in the FR Y-9C report the effects of all
subsequent events (not addressed in other ASC Topics)
that provide additional evidence about conditions that
existed at the date of the FR Y-9C balance sheet (Schedule HC) including the estimates inherent in the process of
preparing the FR Y-9C report e.g., a loss that has been
incurred but not yet confirmed as of the FR Y-9C report
balance sheet date.

Scope of the ‘‘consolidated holding
company’’ to be reported in the submitted
reports
For purposes of this report, the holding company should
consolidate its subsidiaries on the same basis as it does
for its annual reports to the SEC or, for those holding
companies that do not file reports with the SEC, on the
same basis as described in generally accepted accounting
principles (GAAP). Generally, under the rules for consolidation established by the SEC and by GAAP, holding
companies should consolidate any company in which it
owns more than 50 percent of the outstanding voting
stock.
Each holding company shall account for any investments
in unconsolidated subsidiaries, associated companies,
and those corporate joint ventures over which the holding
company exercises significant influence according to the
equity method of accounting, as prescribed by GAAP.
The equity method of accounting is described in Schedule HC, item 8. (Refer to the Glossary entry for ‘‘subsidiaries’’ for the definitions of the terms subsidiary, associated company, and corporate joint venture.)

Rules of Consolidation
For purposes of these reports, all offices (i.e., branches,
subsidiaries, VIEs, and IBFs) that are within the scope of
the consolidated holding company as defined above are
to be reported on a consolidated basis. Unless the instructions specifically state otherwise, this consolidation shall
be on a line-by-line basis, according to the caption
shown. As part of the consolidation process, the results of
all transactions and all intercompany balances (e.g.,
outstanding asset/debt relationships) between offices,
subsidiaries, and other entities included in the scope of
GEN-3

General Instructions

the consolidated holding company are to be eliminated in
the consolidation and must be excluded from the Consolidated Financial Statements for Holding Companies. (For
example, eliminate in the consolidation (1) loans made
by the holding company to a consolidated subsidiary and
the corresponding liability of the subsidiary to the holding company, (2) a consolidated subsidiary’s deposits in
another holding company consolidated subsidiary and the
corresponding cash or interest-bearing asset balance of
the subsidiary, and (3) the intercompany interest income
and expense related to such loans and deposits of the
holding company and its consolidated subsidiary.)
Exception: For purposes of reporting the total assets of
captive insurance and reinsurance subsidiaries in Schedule HC-M, Memoranda, items 7(a) and 7(b), only, holding companies should measure the subsidiaries’ total
assets before eliminating intercompany transactions
between the consolidated subsidiary and other offices or
subsidiaries of the consolidated holding company. Otherwise, captive insurance and reinsurance subsidiaries
should be reported on a consolidated basis as described in
the preceding paragraph.
Subsidiaries of Subsidiaries. For a subsidiary of a holding company that is in turn the parent of one or more
subsidiaries:
(1) Each subsidiary shall consolidate its majority-owned
subsidiaries in accordance with the consolidation
requirements set forth above.
(2) Each subsidiary shall account for any investments in
unconsolidated subsidiaries, corporate joint ventures
over which the holding company exercises significant influence, and associated companies according
to the equity method of accounting.
Noncontrolling (minority) interests. A noncontrolling
interest, sometimes called a minority interest, is the
portion of equity in a holding company’s subsidiary not
attributable, directly or indirectly, to the parent holding
company. Report noncontrolling interests in the reporting
holding company’s consolidated subsidiaries in Schedule
HC, item 27(b), ‘‘Noncontrolling (minority) interests in
consolidated subsidiaries.’’ Report the portion of consolidated net income reported in Schedule HI, item 12, that is
attributable to noncontrolling interests in consolidated
subsidiaries of the holding company in Schedule HI, item
13.
GEN-4

Reporting by type of office (for holding
companies with foreign offices)
Some information in the Consolidated Financial Statements for Holding Companies are to be reported by type
of office (e.g., for domestic offices or for foreign offices)
as well as for the consolidated holding company. Where
information is called for by type of office, the information
reported shall be the office component of the consolidated item unless otherwise specified in the line item
instructions. That is, as a general rule, the office information shall be reported at the same level of consolidation
as the fully consolidated statement, shall reflect only
transactions with parties outside the scope of the consolidated holding company, and shall exclude all transactions
between offices of the consolidated holding company as
defined above. See the Glossary entries for ‘‘domestic
office’’ and ‘‘foreign office’’ for the definitions of these
terms.

Exclusions from coverage of the
consolidated report
Subsidiaries where control does not rest with the parent. If control of a majority-owned subsidiary by the
holding company does not rest with the holding company
because of legal or other reasons (e.g., the subsidiary is in
bankruptcy), the subsidiary is not required to be consolidated for purposes of the report.2 Thus, the holding
company’s investments in such subsidiaries are not eliminated in consolidation but will be reflected in the reports
in the balance sheet item for ‘‘Investments in unconsolidated subsidiaries and associated companies’’ (Schedule
HC, item 8) and other transactions of the holding company with such subsidiaries will be reflected in the
appropriate items of the reports in the same manner as
transactions with unrelated outside parties. Additional
guidance on this topic is provided in accounting standards, including ASC Subtopic 810-10, Consolidation –
Overall (formerly FASB Statement No. 94, Consolidation of All Majority-Owned Subsidiaries).
Custody accounts. All custody and safekeeping activities
(i.e., the holding of securities, jewelry, coin collections,
and other valuables in custody or in safekeeping for
customers) should not to be reflected on any basis in the
balance sheet of the Consolidated Financial Statements
for Holding Companies unless cash funds held by the
bank in safekeeping for customers are commingled with
the general assets of the reporting holding company. In
FR Y9C
General Instructions December 2014

General Instructions

such cases, the commingled funds would be reported in
the Consolidated Financial Statements for Holding Companies as deposit liabilities of the holding company.
For holding companies that file financial statements with
the Securities and Exchange Commission (SEC), major
classifications including total assets, total liabilities, total
equity capital and net income should generally be the
same between the FR Y-9C report filed with the Federal
Reserve and the financial statements filed with the SEC.

B. Report Form Captions, Non-applicable
Items and Instructional Detail
No caption on the report forms shall be changed in any
way. An amount or a zero should be entered for all items
except in those cases where (1) the reporting holding
company does not have any foreign offices; (2) the
reporting company does not have any depository institutions that are subsidiaries other than commercial banks;
or (3) the reporting holding company has no consolidated subsidiaries that render services in any fiduciary
capacity and its subsidiary banks have no trust departments. If the reporting holding company has only domestic offices, Schedule HC, items 13(b)(1) and 13(b)(2),
and Schedule HI, items 1(a)(2) and 2(a)(2) should be left
blank. If the reporting company does not have any
depository institutions that are subsidiaries other than
commercial banks, then Schedule HC-E, items 2(a)
through 2(e) should be left blank. If the reporting company does not have any trust activities, then Schedule HI,
item 5(a) should be left blank. A holding company
should leave blank memorandum items 9(a) through 9(d)
of Schedule HI if the reporting holding company does
not have average trading assets of $2 million or more
(reported on Schedule HC-K, item 4(a)) as of the March
31st report date of the current calendar year.
Holding companies who are not required to report Schedule HC-D or Schedule HC-Q may leave these schedules
blank. Savings and loan holding companies who are not
required to report Schedule HC-L, item 7(c)(1)(a)
through item 7(c)(2)(c), Schedule HC-M item 11, item
17, and item 18, or all of Schedule HC-R may leave
these items blank.
There may be areas in which a holding company wishes
more technical detail on the application of accounting
standards and procedures to the requirements of these
instructions. Such information may often be found in the
appropriate entries in the Glossary section of these
FR Y9C
General Instructions December 2014

instructions or, in more detail, in the GAAP standards.
Selected sections of the GAAP standards are referenced
in the instructions where appropriate. The accounting
entries in the Glossary are intended to serve as an aid in
specific reporting situations rather than a comprehensive
statement on accounting for holding companies.
Questions and requests for interpretations of matters
appearing in any part of these instructions should be
addressed to the appropriate Federal Reserve Bank (that
is, the Federal Reserve Bank in the district where the
holding company submits this report).

C. Rounding
For holding companies with total assets of less than $10
billion, all dollar amounts must be reported in thousands,
with the figures rounded to the nearest thousand. Items
less than $500 will be reported as zero. For holding
companies with total assets of $10 billion or more, all
dollar amounts may be reported in thousands, but each
holding company, at its option, may round the figures
reported to the nearest million, with zeros reported in the
thousands column. For holding companies exercising this
option, amounts less than $500,000 will be reported as
zero.
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 Consolidated Financial Statements for Holding
Companies, ‘‘Total assets’’ (Schedule HC, item 12) and
‘‘Total liabilities and equity capital’’ (Schedule HC, item
29), which must be equal, must be derived from unrounded
numbers and then rounded to ensure that these two items
are equal as reported.

D. Negative Entries
Except for the items listed below, negative entries are
generally not appropriate on the FR Y-9C 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. Items for which
negative entries may be made, include:
GEN-5

General Instructions

(1) Schedule HI, memorandum item 6, ‘‘Other noninterest income (itemize and describe the three
largest amounts that exceed 1 percent of the sum of
Schedule HI, item 1(h) and 5(m)).’’
(2) Schedule HI, memorandum item 7 ‘‘Other noninterest expense (itemize and describe the three
largest amounts that exceed 1 percent of Schedule
HI, items 1(h) and 5(m)).’’
(3) Schedule HI, item 5(e), ‘‘Venture capital revenue.’’
(4) Schedule HI, item 5(f), ‘‘Net servicing fees.’’
(5) Schedule HI, item 5(g), ‘‘Net securitization
income.’’
(6) Schedule HI-A, item 12, ‘‘Other comprehensive
income.’’
(7) Schedule HC, item 8, ‘‘Investments in unconsolidated subsidiaries and associated companies.’’
(8) Schedule HC, item 26(a), ‘‘Retained earnings.’’
(9) Schedule HC, item 26(b), ‘‘Accumulated other
comprehensive income.’’
(10) Schedule HC, item 26(c), ‘‘Other equity capital
components. ’’
(11) Schedule HC, item 27(a), ‘‘Total holding company
equity capital.’’

application of FASB ASC 715-20 (former FASB
Statement No. 158) to defined benefit postretirement plans.’’
(19) Schedule HC-R, item 7(b), ‘‘LESS: Cummulative
change in fair value of all financial liabilities
accounted for under a fair value option that is
included in retained earnings and is attributable to
changes in the holding company’s own creditworthiness.’’
(20) Schedule HC-R, item 8, ‘‘Subtotal.’’
(21) Schedule HC-R, item 10, ‘‘Other additions to
(deductions from) Tier 1 capital.’’
(22) Schedule HC-R, item 11, ‘‘Tier 1 capital.’’
(23) Schedule HC-R, item 21, ‘‘Total risk-based capital.’’
(24) Schedule HC-R, Column B, ‘‘Items Not Subject
to Risk-Weighting,’’ for asset categories in items 34
through 43.
When negative entries do occur in one or more of these
items, they shall be recorded with a minus (2) sign rather
than in parenthesis.
On the Consolidated Report of Income (Schedule HI),
negative entries may appear as appropriate. Income items
with a debit balance and expense items with a credit
balance must be reported with a minus (2) sign.

(12) Schedule HC, item 28, ‘‘Total equity capital.’’
(13) Schedule HC-C, items 10, 10(a), and 10(b), on
‘‘Lease financing receivables (net of unearned
income).’’
(14) Schedule HC-P, items 5(a) and 5(b), on ‘‘Noninterest income for the quarter from the sale, securitization, and servicing of 1–4 family residential mortgage loans .’’
(15) Schedule HC-Q, memorandum item 2(a), ‘‘Loan
commitments (not accounted for as derivatives).’’
(16) Schedule HC-R, item 1, ‘‘Total holding company
equity capital.’’
(17) Schedule HC-R, item 2, ‘‘Net unrealized gains
(losses) on available-for-sale securities.’’
(18) Schedule HC-R, item 4, ‘‘Accumulated net gains
(losses) on cash flow hedges and amounts recorded
in AOCI resulting from the initial and subsequent
GEN-6

E. Confidentiality
The completed version of this report generally is available to the public upon request on an individual basis
with the exception of any amounts reported in Schedule
HI, memoranda item 7(g), ‘‘FDIC deposit insurance
assessments,’’ for report dates beginning June 30, 2009,
and in Schedule HC-P, item 7(a), ‘‘Representation and
warranty reserves for 1-4 family residential mortgage
loans sold to U.S. government agencies and governmentsponsored agencies,’’ and item 7(b), ‘‘Representation and
warranty reserves for 1-4 family residential mortgage
loans sold to other parties.’’ However, a reporting holding
company may request confidential treatment for the
Consolidated Financial Statements for Holding Companies (FR Y-9C) if the 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
FR Y9C
General Instructions December 2014

General Instructions

In certain limited circumstances, the Federal Reserve may grant confidential treatment for some or
all of the items for which such treatment has been requested if the institution clearly has provided a
compelling justification for the request.

submitted information would result in unwarranted invasion of personal privacy.
A request for confidential treatment must be submitted in
writing prior to the electronic 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
System if the Board of Governors determines that the
disclosure of such information is in the public interest.

F. Verification and Signatures
in accordance
terms and
of 12subtraction should be
Verification.with
All the
addition
CFRdouble-checked
261.16, or otherwise
provided
by
before reports
are submitted.
Totals and
law. subtotals
The Federal
Reserve
may should be cross-checked
in supporting
materials
subsequently
release
information
forthe reports. Before a
to corresponding
items
elsewhere in
report
is
submitted,
all
amounts
should
be compared with
which confidential treatment is
the
corresponding
amounts
in
the
previous
report. If there
accorded
are any unusual changes from the previous report, a brief
explanation of the changes should be provided to the
appropriate Reserve Bank.
Signatures. The Consolidated Financial Statements for
Check
HoldingBox
Companies must be signed by the Chief FinanThe
Reporter
must
select
on page
theindividual
cial Officer
of the
holding
company
(or1byofthe
performing
thisany
equivalent
function).
By signing
the
form
whether
confidential
treatment
is
cover page for
of this
theof
authorized
officer
acknowlrequested
anyreport,
portion
the report.
If the
edges that
and willful
misrepresentation
or
answer
to any
the knowing
first question
is "Yes,"
the
omission
of
a
material
fact
on
this
report
constitutes
fraud
Reporter must indicate whether a letter
in the inducement
and for
mayconfidential
subject the officer to legal
justifying
the request
sanctions provided by 18 USC 1001 and 1007.
treatment is included with the submission or
Holding
maintain in
their files a manuhas
beencompanies
providedmust
separately.
If an
ally signed and
attested
printout
of the data submitted.
institution
does
not fulfill
both
The cover page or
of the
Reserve
Bank-supplied,
holding
requirements,
does
not check
the
company’s
software,
or
from
the
Federal
Reserve’s
appropriate boxes, confidential treatment website report form should be used to fulfill the signature and
will not be considered.
attestation requirement and this page should be attached
to the printout placed in the holding company’s files.
Note: Your responses to the questions
regarding confidential treatment on page
1 of the form will be considered public
information.
FR Y9C
General Instructions December 2014

June 2015

G. orAmended
Reports
included with
the submission of the report.
When the Federal Reserve’s interpretation of how GAAP
or these instructions should be applied to a specified
New
eventparagraph
or transaction (or series of related events or transThe
written
request
identify the
specific
items
actions)
differs
frommust
the reporting
holding
company’s
for
which confidential
treatment
is requested,
interpretation,
the Federal
Reserve may
require the holdprovide
justification
confidential
treatment
ing company
to reflectfor
thethe
event(s)
or transaction(s)
in its
FR Y-9C for
in the
accordance
with
the Federal Reserve’s
requested
identified
items,
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 holding company to apply the Federal
Reserve’s interpretation and to amend previously submitIf the
Federal
Reserve
it necessary
to of
ted
reports.
Materiality
is adeems
qualitative
characteristic
release confidential
theaddressed
reportingininstitution
accounting
information data,
that is
Financial
Accounting
Standards
Board
(FASB) Concepts Statewill be notified
before
it is released.
ment No. 8, ‘‘Conceptual Framework for Financial
Reporting,’’ as follows: ‘‘Information is material if omitting it or misstating it could influence decisions that users
make on the basis of the financial information of a
specific reporting entity.’’ In other words, materiality is
an entity-specific aspect of relevance based on the nature
or magnitude or both of the items to which the information relates in the context of an individual entity’s
financial report.
The Federal Reserve may require the filing of amended
Consolidated Financial Statements for Holding Companies if reports as previously submitted contain significant
errors. In addition, a 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.
The Federal Reserve also requests that holding companies that have restated their prior period financial statements as a result of an acquisition submit revised reports
for the prior year-ends. While information to complete all
schedules to the FR Y-9C may not be available, holding
companies are requested to provide the Consolidated
Balance
Sheet
(Schedule HC) and the Consolidated
insert
footnote:
ReportFOIA
of Income
(Schedule4 HI)
the prior
year-ends. for
exemptions
andfor
6 may
be applicable
In the request
event that
of the required
data are not
for certain
confidentiality.
For a complete
list see
available,
holding
companies
should
contact
the
approprithe Board's public web site
ate Reserve
Bank for information on submitting revised
http://www.federalreserve.gov/foia/exemptions.htm.
reports.

GEN-7