Holding Company Report of
Insured Depository Institutions' Section 23A Transactions with Affiliates
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.
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.
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.
The panel consists of all top-tier bank holding companies (BHCs), including financial holding companies (FHCs). In addition, all foreign banking organizations that directly own a U.S. subsidiary bank also must file this report. Participation is mandatory.
This report is to be submitted quarterly as of the last calendar day of March, June, September, and December.
Microdata are confidential.
Last Update: April 27, 2020