7 Feb 2025
📊Federal Reserve Approval of FR Y-8 Reporting Requirements
Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB
Summary
The Board of Governors of the Federal Reserve System (Board) is adopting a proposal to extend for three years, without revision, the Holding Company Report of Insured Depository Institutions' Section 23A Transactions with Affiliates (FR Y-8; OMB No. 7100-0126).
Agencies
- Federal Reserve System
Business Impact
$$ - Med
The text identifies regulatory compliance requirements under Section 23A of the Federal Reserve Act that affect U.S. bank holding companies. These institutions need to report transactions with affiliates, ensuring transparency and adherence to financial regulations, which impacts their operational practices and strategic decisions.