On September 14, 2012, a final notice was published in theFederal Register(77 FR 56842) finalizing the revisions to the FR Y-10, Report of Changes in Organizational Structure, and FR Y-6, Annual Report of Holding Companies (OMB No: 7100-0297), which included requiring nonbank financial companies supervised by the Federal Reserve and designated financial market utilities (DFMUs) to begin submitting these reports effective December 2012. Subsequent to the publication of the final notice, the Federal Reserve determined that the data collected in the FR Y-10 and FR Y-6 is not appropriately tailored for DFMUs, and structure data with respect to DFMUs that is necessary to populate certain databases can be initially generated internally. In addition, the final notice required nonbank financial companies supervised by the Board to submit the FR Y-10 and the FR Y-6 reports. Given that the Financial Stability Oversight Council has not made any final decision on designating nonbank financial companies as systemically important, the Federal Reserve believes it is more appropriate to determine the reporting requirements for these entities once they are identified. Accordingly, the Federal Reserve is removing the requirement for these entities to submit these reports effective December 2012.
Board of Governors of the Federal Reserve System, November 23, 2012.
Robert deV. Frierson,
Secretary of the Board.