Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB (FED extends – with revisions – described reporting requirements of certain holding companies, including financial holding companies, bank holding companies, and savings and loans holding companies)

On December 5, 2023, the Board of Governors of the Federal Reserve System (FED) published in the Federal Register its approval 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 reports 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.
The approval follows a corresponding consultation earlier this year in which the FED primarily sought to revise the instructions to the reports for clarity purposes and the submission deadline of the FR Y-12A to align it with the submission deadline of the FR Y-12 report (please see Event ID 22283 for more information).
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As the Board received no comments on its proposal, it will proceed as proposed.