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Federal Reserve Board of Governors

Reporting forms

FR Y-9ES

Financial Statements for Employee Stock Ownership Plan Holding Companies

Description: This report collects financial information from employee stock ownership plans (ESOPs) that are also bank holding companies (BHCs) or savings and loan holding companies (SLHCs) on their benefit plan activities. It consists of four schedules: Statement of Changes in Net Assets Available for Benefits, Statement of Net Assets Available for Benefits, Memoranda, and Notes to the Financial Statements.

OMB: 7100-0128

Purpose: The information is used to assess and monitor the financial condition of ESOP BHCs and ESOP SLHCs and to monitor when the employer will be at risk for large cash flows.

Background: The Board of Governors approved the report in October 2002, for implementation on December 31, 2002. Prior to the FR Y-9ES report, ESOP BHCs filed either a Parent Company Only Financial Statements for Large BHCs (FR Y-9LP) or the Parent Company Only Financial Statements for Small BHCs (FR Y-9SP). However, these reports did not accurately reflect the ESOP's financial condition. The FR Y-9ES report is aligned more closely with an ESOP's accounting and disclosure practices and is intended to provide a clearer picture of the function and operation of an ESOP. All ESOP BHCs must file the Y-9ES, however, BHCs that are subsidiaries of ESOP BHCs (i.e., a tiered BHC) must submit (a) the Consolidated Financial Statements for BHCs (FR Y-9C), (b) the FR Y-9LP, or the FR Y-9SP. 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 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.

Respondent Panel: panel consists of all ESOP BHCs and ESOP SLHCs. Participation is required.

Frequency: Annually, as of close of business on December 31.

Public Release: With certain exceptions, microdata are considered public information and are available through the Board's Freedom of Information Office.

Last Update: December 16, 2013