Although large banking organizations are likely aware of the Federal Reserve Board’s (FRB) recent proposed rules to impose prudential requirements and limitations on certain physical commodity activities1 and modify the capital planning and stress testing rules for “large and noncomplex” firms,2 they may not have paid sufficient attention to the regulatory reporting components of the proposals.
Importantly, these two proposals would make changes to the following reports:
- FR Y-9C, which collects consolidated financial statements for holding companies;
- FR Y-9LP, which collects parent-only financial statements for large holding companies; and
- FR Y-14A/Q/M series related to capital assessments and stress testing.
In addition to understanding the impact of the FRB’s proposals on their businesses, covered US and foreign banking organizations should carefully review the proposed changes to these key regulatory reports and understand what actions are required in order to comply.