This report collects consolidated systemic risk data from large U.S. bank holding companies (BHCs). The data items collected in this report mirror those developed by the Basel Committee on Banking Supervision (BCBS) to assess the global systemic importance of banks.
Purpose: The FR Y-15 report is used by the Federal Reserve to monitor, on an ongoing basis, the systemic risk profile of BHCs which are subject to enhanced prudential standards under section 165 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (DFA), and to determine the additional capital requirement for global systemically important banks (G-SIBs). Additionally, the data may also be used in the identification of domestic systemically important banks (D-SIBs) and in the systemic risk analysis of proposed mergers and acquisitions.
In response to the financial crisis, the BCBS adopted a series of reforms to improve the resilience of banks and banking systems. Among those reforms is a requirement that G-SIBs hold additional capital to enhance their ability to absorb losses and remain going concerns. To determine the relative systemic importance of banks, the BCBS developed an indicator-based approach that focused on those aspects of a bank's operations that are likely to generate negative externalities in the case of its failure. The selected indicators reflected five components of a bank's global systemic footprint: size, interconnectedness, substitutability, complexity, and cross-jurisdictional activity. These indicators, which are used by the BCBS to identify G-SIBs, are captured in the FR Y-15 report.
The panel consists of U.S. BHCs with $50 billion or more in total consolidated assets. This is a mandatory report. Filing of year-end 2012 data is limited to the eight U.S. BHCs that the Financial Stability Board designated as G-SIBs on November 1, 2012. (See Update of group of global systemically important banks (G-SIBs), available at http://www.financialstabilityboard.org/publications/r_121031ac.pdf.)
The report is collected annually using year-end data. Year-end 2012 data must be submitted to the appropriate Reserve Bank within 90 days after the December 31, 2012, as-of-date. Subsequent reports must be submitted to the appropriate Reserve Bank within 60 days after the December 31 as-of-date.
Individual respondent data are made available publicly via the National Information Center website (www.ffiec.gov/nicpubweb/nicweb/nichome.aspx). However, respondents may request confidential treatment for any information that they believe is subject to an exemption from disclosure under the Freedom of Information Act (FOIA) (5 U.S.C. 522(b)(4) and (b)(6)).