Fed Reserve rubber-stamps same old bank report for three more years
Published Date: 2/7/2025
Notice
Summary
The Federal Reserve Board is extending a key report called FR Y-8 for three more years without any changes. This report helps track certain financial transactions between banks and their related companies to keep things safe and fair. Banks involved in these transactions should keep submitting their info on time, but no new costs or rules are coming.
Analyzed Economic Effects
2 provisions identified: 0 benefits, 2 costs, 0 mixed.
FR Y-8 Reporting Extended 3 Years
If your institution files the FR Y-8, the Federal Reserve Board approved extending the report for three years without any changes. The OMB control number is 7100-0126, the report must be filed quarterly, and the Board estimates 590 respondents with a total of 12,178 annual burden hours.
Which Firms Must File FR Y-8
U.S. top-tier bank holding companies, intermediate holding companies, savings and loan holding companies, and foreign banking organizations that directly own or control a U.S. subsidiary insured depository institution must file the FR Y-8. A respondent must file a separate FR Y-8 report for each U.S. insured depository institution it controls.
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Key Dates
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