These reports collect selected financial information for individual U.S. nonbank subsidiaries of domestic holding companies (i.e., bank holding companies, savings and loan holding companies, and securities holding companies). The FR Y-11 consists of a balance sheet and income statement; information on changes in equity capital, changes in the allowance for loan and lease losses, off-balance-sheet items, and loans; and a memoranda section. The FR Y-11S collects four financial data items for less significant subsidiaries.
Purpose: Supervision and regulation staff use the FR Y-11 data in conjunction with data from other reports in the FR Y series to assess the condition of holding companies that are heavily engaged in nonbanking activities and to monitor the volume, nature, and condition of their nonbanking operations.
The Federal Reserve implemented the FR Y-11 reports in 1970 and since then has revised the reports several times to improve their usefulness as a supervisory tool. In December 2002, the reports were streamlined to collect consistent information from domestic and foreign banking organizations about their nonbank subsidiaries. Also, the thresholds for filing the reports were revised to reduce burden. The thresholds for reporting were revised again in March 2006 to make them consistent with the filing threshold for reporting the Consolidated Financial Statements for Bank Holding Companies (FR Y-9C; OMB No. 7100-0128) and to further reduce reporting burden. The Dodd-Frank Wall Street Reform and Consumer Protection Act (the Dodd-Frank Act) was enacted into law on July 21, 2010. Title III of the Dodd-Frank Act abolished the Office of Thrift Supervision (OTS) and transferred all former OTS authorities (including rulemaking) related to savings and loan holding companies (SLHCs) to the Federal Reserve effective as of July 21, 2011. The Federal Reserve also became responsible for the consolidated supervision of SLHCs beginning July 21, 2011. During 2011, the Board finalized its proposal exempting a limited number of SLHCs from regulatory reporting using the Board's existing regulatory reports and providing a two-year phase-in approach for regulatory reporting for all other SLHCs beginning March 31, 2012.
Top-tier holding companies file the FR Y-11 report quarterly for each individual nonbank subsidiary that is owned or controlled by a holding company that files the FR Y-9C and if the nonbank subsidiary has (a) total assets of $1 billion or more, or (b) total off-balance sheet activity of $5 billion or more, or (c) equity capital of at least 5 percent of the consolidated equity capital of the top-tier holding company, or (d) operating revenue of at least 5 percent of consolidated operating revenue of the top-tier holding company. Top-tier holding companies file the FR Y-11 annually for each individual nonbank subsidiary (that does not meet the criteria for filing quarterly) with total assets of $250 million or more but less than $1 billion. Top-tier holding companies file the FR Y-11S report annually for each individual nonbank subsidiary (that does not meet the criteria for filing quarterly) with assets of at least $50 million but less than $250 million, or with total assets greater than 1 percent of the total consolidated assets of the top-tier organization. Participation is mandatory.
Quarterly or annually, as of close of business the last calendar day of the quarter, based on the thresholds described above.
With certain exceptions, microdata are considered public information and are available through the Board's Freedom of Information Office.