This report collects select balance sheet and income statement on a parent only and consolidated basis and supplemental organizational structure data from savings and loan holding companies (SLHCs) exempt from initially filing Federal Reserve regulatory reports.
Purpose: The information is used by the Federal Reserve to analyze the overall financial condition of exempt SLHCs to ensure safe and sound operations. These data assist the Federal Reserve in the evaluation of a diversified holding company and in determining whether an institution is in compliance with applicable laws and regulations. The FR 2320 data collection contribute to the analyses of the overall financial condition of exempt SLHCs to ensure safe and sound operations.
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 transferred all former Office of Thrift Supervision (OTS) authorities (including rulemaking) related to SLHCs and their non-depository subsidiaries to the Board of Governors of the Federal Reserve System on July 21, 2011. Consequently, the Federal Reserve became responsible for the consolidated supervision of SLHCs beginning July 21, 2011. As stated in the SLHC regulatory reporting proposal, all SLHCs would continue to submit all OTS regulatory reports under the OTS SLHC reporting scheme using the existing processing system, the Electronic Filing System (EFS) established by the OTS, through December 31, 2011. Subsequently, on February 6, 2012, the Board of Governors approved the implementation of the FR 2320. The FR 2320 report replaces the OTS Thrift Financial Report (TFR; OMB No. 1557-0255) Schedule HC effective March 31, 2012. The FR 2320 collects the same data previously collected on Schedule HC of the TFR - select balance sheet and income statement data and supplemental changes in structure information. The Federal Reserve determined that three of the supplemental changes structure items that the OTS had deemed confidential may be protected from disclosure under exemption 4 of the Freedom of Information Act (FOIA), (5 U.S.C. 552(b)(4)). No changes were made to the frequency of submission, fiscal year-end reporting, or the preparation of the report using statutory accounting principal, where appropriate.
The FR 2320 is generally filed by the top-tier SLHC if that SLHC is exempt from filing the Federal Reserve's existing regulatory reports. However, if a top-tier SLHC is not required to file the FR 2320, then a lower-tier SLHC must file FR 2320. Such determination as to which SLHC will be required to file the FR 2320 will be made by the district Federal Reserve Bank. In addition, lower-tier SLHCs may voluntarily file the FR 2320 or may be required to file (in addition to the top-tier SLHC) for safety and soundness purposes at the discretion of the district Federal Reserve Bank.
Quarterly, as of the last calendar day of the quarter. If a SLHC has a quarter-end other than a calendar quarter-end, data from the fiscal quarter ending within the calendar quarter may be used to complete the FR 2320.
With certain exceptions, microdata are considered public information and are available through the Board's Freedom of Information Office.