Proposed Agency Information Collection Activities; Comment Request (FED proposes to extend – with revisions – described reporting requirements of certain holding companies, including financial holding companies, bank holding companies, and savings and loans holding companies)

On July 19, 2023, the Board of Governors of the Federal Reserve System (FED) published in the Federal Register a proposal to extend for three years, with revisions, the collection of two reports to be filed by bank holding companies, savings and loan holding companies, U.S. intermediate holding companies, and – in case of the second report- by financial holding companies (FHCs). The following forms are concerned:
(1) FR Y-12 – Consolidated Holding Company Report of Equity Investments in Nonfinancial Companies: This report, to be filed by bespoke holding companies either quarterly or semi-annually, collects information about equity investments in nonfinancial companies in the corresponding reporting periods. The report requires information on the type of investment, the type of securities that are invested in, and all relevant transactions during the reporting period.
(2) FR Y-12A – Annual Report of Merchant Banking Investments Held for an Extended Period: This report, to be filed by FHCs annually with an as of date of December 31, collects information on restricted merchant banking investments of these holding companies (typically, such investments may be made for a period of ten years). It requires information on a firm’s current restricted holdings and its plans to dispose of such.
#### Proposed Revisions
As far as the proposed revisions are concerned, these are minor in nature and include the following – as quoted and not further described:
(1) specifying when respondents should submit their reports if the submission deadline falls on a weekend or holiday,
(2) modifying and clarifying the recordkeeping requirements of the submitted form,
(3) clarifying what must be included in the reported amount of a firm’s aggregate nonfinancial equity investment,
(4) clarifying in the FR Y–12 instructions which columns are applicable to Schedules A and C, and
(5) aligning the submission deadline of the FR Y–12A to be consistent with the FR Y–12 submission deadline.