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This regulatory reporting brief covers banking structure report basics, trends and industry challenges.
Banking structure reports (FR Y-10, FR Y-6 and FR Y-7) capture detailed information on changes to the structure of banking organizations, including the characteristics, ownership, activities and legal authority of subsidiaries, affiliates and investments, as well as information on branches and representative offices. Structure reports create a foundation for all regulatory reports and provide the Federal Reserve Bank with data needed to ensure that banks carry out operations in a safe and sound manner and demonstrate compliance with various laws and regulations, including, but not limited to, the Bank Holding Company Act; the Home Owners’ Loan Act; and Regulations Y, K and LL.
Our report linked below will cover the following key topics:
- Overview of structure reports
- Importance of accurate and timely structure reporting
- Observed regulator focus areas
- Industry challenges around structure reporting responsibilities
Josh Welikson, Jonathan Gilbert, Stephen Gillett, Tatyana Dreger and Kristina Savchuk contributed to the article.
Download the full article on: Spotlight on banking structure reporting
Summary
Due to the importance and significance of structure data, banking structure reports continue to be a focus for regulator reviews, with emerging themes around governance and controls over report production processes, and accountability and oversight over structure reporting. The industry is moving toward creating formalized roles and responsibilities across key stakeholders and implementing a legal-entity-wide database that can streamline the report production process and enable data quality via established quality rules, controls and change management.
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