The Federal Reserve said it will not take action against financial institutions with $5 billion or less in total assets for submitting certain financial statements within 30 days of the March 31 filing deadline.
Fed announces financial reporting relief
March 27, 2020 / By ICBA
The Federal Reserve said it will not take action against financial institutions with $5 billion or less in total assets for submitting certain financial statements within 30 days of the March 31 filing deadline.
The Federal Reserve said it will not take action against financial institutions with $5 billion or less in total assets for submitting certain financial statements within 30 days of the March 31 filing deadline.
The announcement applies to Consolidated Financial Statements for Bank Holding Companies (FR Y-9C) and Financial Statements of U.S. Nonbank Subsidiaries of U.S. Bank Holding Companies (FR Y-11).
Institutions are encouraged to contact their Reserve Bank in advance of the official filing deadline if they anticipate a delayed submission. Regulators earlier this week offered similar reporting relief to financial institutions for their March 31 call reports.
These and additional resources are available on ICBA's Crisis Response and Preparedness Center.
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