27 Mar 2025
🏦Federal Reserve Announces Revision for Financial 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, with revision, the Report of Selected Assets and Liabilities of Domestically Chartered Commercial Banks and U.S. Branches and Agencies of Foreign Banks (FR 2644; OMB No. 7100-0075).
Agencies
- Federal Reserve System
Business Impact
$$ - Med
The document outlines compliance and regulatory requirements for domestically chartered commercial banks and U.S. branches/foreign banks under the revised reporting plan (FR 2644). It includes new obligations regarding data collection, affecting business operations and metrics for banks required to comply.