FR Y-8
Holding Company Report of
Insured Depository Institutions' Section 23A
Transactions with Affiliates
Description:
This report collects information on
transactions between an insured depository
institution and its affiliates that are subject to
section 23A of the Federal Reserve Act. The FR Y-8
comprises a cover page and two pages collecting data
on covered transactions and derivatives.
OMB: 7100-0126
Purpose: The information is used to enhance
the Federal Reserve's ability to monitor bank
exposures to affiliates and to ensure compliance
with section 23A of the Federal Reserve Act.
Section 23A of the Federal Reserve Act is one of
the most important statutes on limiting exposures
to individual institutions and protecting the
federal safety net.
Background:
This report, developed in March
1975, was initially collected on a monthly basis
to help identify transactions between the bank and
nonbank portions of a bank holding company and its
subsidiaries. Effective September 1975, the
report was changed to a quarterly report and
expanded to collect additional information.
Beginning March 1979, the panel was determined
based on the consolidated bank holding company's
assets rather than banking assets. In December
1981, the reporting frequency was changed from
quarterly to semiannually and several items were
eliminated. Effective June 1984, several changes
were made to correspond with changes in section
23A of the Federal Reserve Act that prohibited a
member bank from purchasing a low quality asset
from an affiliate. Effective December 2000, the
reporting form and instructions were completely
revised, all previous report form items were
deleted, to enhance the Federal Reserve's ability
to monitor bank exposures to affiliates and to
ensure banks' compliance with section 23A of the
Federal Reserve Act. The respondent panel was also
changed to include all bank holding companies. In
addition foreign banking organizations that
directly own U.S. subsidiary banks were added to
the reporting panel and the FR Y-8f was
eliminated. The reporting frequency was changed
to quarterly and interim reporting was eliminated.
In 2018, the declaration page was eliminated.
Respondent Panel:
The panel consists of all top-tier
U.S. bank holding companies, intermediate holding
companies, and savings and loan holding companies.
In addition, all foreign banking organizations that
directly own a U.S. subsidiary bank also must file
this report. Participation is mandatory.
Frequency:
This report is to be submitted
quarterly as of the last calendar day of March,
June, September, and December.
Public Release:
Microdata are confidential.
Last Update: March 30, 2022