This report collects systemic risk data from large U.S. bank holding companies (BHCs), covered savings and loan holding companies (SLHCs), and intermediate holding companies (IHCs).
Purpose: The Federal Reserve uses the FR Y-15 data to monitor the systemic risk profile of the institutions which are subject to enhanced prudential standards under section 165 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). In addition, the FR Y-15 is used to (i) facilitate the implementation of the surcharge for global systemically important banks (G-SIBs), (ii) identify other institutions which may present significant systemic risk, and (iii) analyze the systemic risk implications of proposed mergers and acquisitions.
In August 2015, the Federal Reserve published a final rule establishing a capital surcharge (G-SIB surcharge) on the largest, most interconnected U.S. BHCs. The G-SIB identification and surcharge methodologies use an indicator-based approach that focuses on those aspects of a G-SIB's operations that are likely to generate negative externalities in the case of its failure. The methodologies assess six components of a bank's systemic footprint: size, interconnectedness, substitutability, complexity, cross-jurisdictional activity, and short-term wholesale funding. The indicators comprising these six components are reported on the FR Y-15.
In addition, the Dodd-Frank Act requires that the Board consider financial stability as part of its review of certain banking applications and that the Board apply enhanced prudential requirements to certain large bank holding companies. The FR Y-15 provides information that is used for these purposes.
The panel consists of U.S. BHCs, SLHCs, and IHCs with $50 billion or more of total consolidated assets and any U.S.-based organizations designated as G-SIBs that do not otherwise meet the consolidated assets threshold. Only the top tier of a multi-tiered holding company that meets these criteria must file.
The FR Y-15 is required to be submitted as of March 31, June 30, September 30, and December 31. The submission date is 50 calendar days after the March 31, June 30, and September 30 as-of dates and 65 calendar days after the December 31 as-of date. The quarterly reporting requirement became effective starting with the June 30, 2016 as-of date.
Except as otherwise noted, the information collected on the FR Y-15 will be made available to the public via the National Information Center website (http://www.ffiec.gov/nicpubweb/nicweb/nichome.aspx). The following line items will be kept confidential until the first reporting date after the liquidity coverage ratio (LCR) disclosure standard has been implemented: Schedule G, items 1 through 4.