This report provides data on organizational structural changes for the reportable companies listed in the respondent panel section below. There are eight schedules: Banking; Savings and Loan; Nonbanking; Merger; 4(k); Domestic Branch; Foreign Branches of U.S. Banking Organizations; and Branch, Agency, and Representative Office.
Purpose: The Federal Reserve System uses this information to monitor the activities of reportable companies to (1) ensure that the activities are conducted in a safe and sound manner and (2) assess the ability of a foreign banking organization (FBO) to continue being a source of strength to its U.S. banking operations. The data provide the Federal Reserve with information integral to monitoring compliance with the Bank Holding Company Act, the Gramm-Leach-Bliley Act, the Federal Reserve Act, the International Banking Act, the Sarbanes-Oxley Act, Regulation Y, Regulation K, Regulation LL, and the Home Owners' Loan Act. In addition, it is the only source of information collected by a banking agency that captures detailed information on the structure of the banking organizations described in the Respondent Panel section below.
Structure reports have been collected in some form since the implementation of the Bank Holding Company Act of 1956. In 1985, the Annual Report of Domestic Bank Holding Companies (FR Y-6) was restructured to collect only financial information, and the FR Y-6A was created to capture structure information for either new bank holding companies (BHCs) or BHCs that had undergone a change in their structure. In 1995, the FR Y-7A was implemented to collect structure information from FBOs previously collected in section II of the FR Y-7. In April 2000, the Federal Reserve revised the FR Y-6A and FR Y-7A to collect information on changes in investments and activities related to the Gramm-Leach-Bliley Act of 1999 from financial holding companies (FHCs) and unaffiliated state member banks. In September 2001, the Federal Reserve replaced the FR Y-6A and FR Y-7A with the FR Y-10 and FR Y-10F, respectively, to reduce the burden and costs associated with this report. The change made the submission of structure information by domestic banking organizations and FBOs more parallel, increased the thresholds for investments to be included, reduced the types of investments to be included, streamlined the method of reporting percentage ownership of nonbanking investments, and simplified the reporting of legal authority and activity codes. Finally, the submission of certain information on the structure of foreign investments was moved from the FR 2064 to the FR Y-10. In May 2004, the Federal Reserve reorganized the reports into separate schedules for banking, nonbanking, and 4(k) investments. In addition, the Federal Reserve System activity codes were replaced with the North American Industrial Classification System codes. In June 2007, the Federal Reserve combined the FR Y-10, FR Y-10F, FR Y-10S, and FR 2058 into the FR Y-10 reporting form to streamline the data submission process. In April 2008, the Federal Reserve implemented a new schedule to collect data on domestic branches of depository institutions and Edge and agreement corporations. The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) was enacted into law on July 21, 2010. Title III of the Dodd-Frank Act abolished the Office of Thrift Supervision and transferred its authorities (including rulemaking) related to savings and loan holding companies (SLHCs) to the Board of Governors of the Federal Reserve System effective as of July 21, 2011.
Top-tier BHCs (including employee stock ownership plans (ESOPs) or employee stock ownership trusts (ESOTs) that are BHCs, including FHCs; top-tier SLHCs, ESOPs, ESOTs, or trusts that are SLHCs pursuant to Regulation LL; state member banks that are not controlled by a BHC or an FBO; Edge and agreement corporations that are not controlled by a member bank, a domestic BHC, or an FBO; nationally chartered banks, with regard to their foreign investments only, that are not controlled by a BHC or an FBO; security holding companies; and FBOs. The report is mandatory.
As needed, the FR Y-10 is submitted within 30 calendar days of a reportable transaction or event.
Individual respondent data are available to the public upon request through the appropriate Federal Reserve Bank. Under certain circumstances, however, respondents may request confidential treatment. Certain data from the FR Y-10 are published on the National Information Center's public website at www.ffiec.gov/nicpubweb/nicweb/nichome.aspx.