Fed Asks: Any Objections to More of the Same Reporting?
Published Date: 2/5/2025
Notice
Summary
The Federal Reserve wants to keep collecting certain reports for three more years without changing the rules. Banks and financial groups who fill out these reports should know this won’t cost extra or add new tasks. If you have thoughts, you’ve got until April 7, 2025, to speak up and share your views!
Analyzed Economic Effects
4 provisions identified: 2 benefits, 2 costs, 0 mixed.
Who Is Subject to FR TT
The collection and assessments apply to bank holding companies and savings and loan holding companies with $100 billion or more in total consolidated assets, and to all nonbank financial companies designated for Board supervision by the Financial Stability Oversight Council (FSOC).
Three‑Year Extension of FR TT
The Federal Reserve proposes to extend for three years, without revision, the Reporting Requirements Associated with Regulation TT (FR TT). This continuation keeps in place the Board's authority to collect assessments and related reporting under Regulation TT for the same set of companies.
Assessment Notice and 30‑Day Appeal Window
Under Regulation TT, the Board issues an annual notice of assessment and assessed companies may file a written appeal. Each assessed company has thirty calendar days from June 30, or thirty days from the date of issuance if issued later than June 30, to submit an emailed statement to appeal the Board's determination that the company is an assessed company or the company's total assessable assets.
Estimated Respondents and Burden
The Board estimates a total of 3 respondents and a total estimated annual burden of 30 hours for this information collection (FR TT).
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Key Dates
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