Board of Governors of the Federal Reserve System

Data Dictionary

Item Number 9046

Call confidentiality applies to FFIEC 031/041.

Data Description:

An indicator of whether a Foreign Banking Organization (FBO) is exempt from nonbank activity restrictions under Section 4(c)9 of the Bank Holding Company Act or Section 211.23 of Regulation K.

An FBO is eligible for exemption if, disregarding its U.S. banking business, more than half of its worldwide business is banking and more than half of its banking business is outside the U.S.

0 = Not applicable. This indicator is not applicable for entities that are not classified as an FBO or for non FBO foreign banks that do not control an Edge or Agreement Corporation.

1 = FBO is eligible for exemption. The FBO qualifies for eligibility because it meets the requirements or is eligible by specific Board order.

2 = FBO was eligible for exemption. The FBO did qualify for exemption but has ceased meeting the eligibility requirements in the last two years.

3 = FBO is not eligible for exemption. The FBO does not qualify for exemption because it has never met the requirements for eligibility or has ceased meeting the requirements for eligibility for more than two years.

4 = Foreign Bank Reporter (Non-FBO) Entity is a foreign bank that is not an FBO and not subject to the BHC Act, but because of its control of an Edge or Agreement Corporation (acquired prior to CEBA), it is required to file reports in accordance with Regulation Y.

5 = FBO territorial bank. This value is used to identify banks located in the U.S. territories and possessions that meet the definitions of both a foreign banking organization, as contained in the International Banking Act, and of a U.S. bank, as contained in the Bank Holding Company Act. These entities must file the appropriate reports required of U.S. banks or bank holding companies, but are exempt from filing reports as foreign banking organizations such as FR Y-7 reports.