🏦Proposed Extension of Country Exposure Reports (FFIEC 009 & 009a)
Proposed Agency Information Collection Activities: Comment Request
Summary
In accordance with the requirements of the Paperwork Reduction Act of 1995 (PRA), the OCC, the Board, and the FDIC (the agencies) may not conduct or sponsor, and the respondent is not required to respond to, an information collection unless it displays a currently valid Office of Management and Budget (OMB) control number. On May 9, 2025, the Federal Financial Institutions Examination Council (FFIEC), of which the agencies are members, requested public comment for 60 days on a proposal to extend for three years, without revision, the Country Exposure Report (FFIEC 009) and the Country Exposure Information Report (FFIEC 009a), which are currently approved collections of information. The comment period for the May notice expired on July 8, 2025. As described in the SUPPLEMENTARY INFORMATION section of this document, the agencies will proceed with the extension, without revision, of the FFIEC 009 and FFIEC 009a. In addition, the agencies are giving notice that they are sending the collections to OMB for review.
Agencies
- Federal Reserve System
- Treasury Department
- Comptroller of the Currency
- Federal Deposit Insurance Corporation
Business Impact
$$$ - High
The document outlines a proposed extension of mandatory information collections related to the Country Exposure Reports (FFIEC 009 and FFIEC 009a), which directly affects compliance requirements for financial institutions. Non-compliance could result in penalties, making it crucial for business owners in the banking sector to prepare for these reporting obligations.