FR XX-1

Financial Company (as defined) Report of Consolidated Liabilities

Description: The FR XX-1 collects consolidated total liabilities from top-tier U.S. and foreign financial companies that control an insured depository institution that do not otherwise report consolidated financial information to the Federal Reserve or other appropriate Federal banking agency.

OMB: 7100-0363

Purpose: To collect data on consolidated total liabilities from top-tier financial companies that control an insured depository institution that do not otherwise report consolidated financial information to the Federal Reserve or other appropriate Federal banking agency. This information is required in order to determine the aggregate liabilities of all financial companies.

Background: Section 14 of the Bank Holding Company Act of 1956 (BHC Act), which was added by section 622 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act), establishes a financial sector concentration limit that generally prohibits a financial company from merging or consolidating with, or acquiring, another company if the resulting company's liabilities upon consummation would exceed 10 percent of the aggregate liabilities of all financial companies. Regulation XX, Concentration Limit, establishes reporting requirements for financial companies that do not otherwise report consolidated financial information to the Federal Reserve or other appropriate Federal banking agency.

Respondent Panel: Top-tier U.S. and foreign financial companies that control an insured depository institution that do not otherwise report consolidated financial information to the Federal Reserve or other appropriate Federal banking agency. These institutions include savings and loan holding companies where the top-tier holding company is an insurance company that only prepares financial statements in accordance with Statutory Accounting Principles, holding companies of industrial loan companies, limited-purpose credit card banks, and limited-purpose trust banks.

Frequency: Annually, as of December 31.

Public Release: With certain exceptions, microdata from the FR XX-1 are considered public information and are available through the Board's Freedom of Information Office.

Last Update: December 17, 2014