Data Provided for Regulatory Reports: What Is Confidential?
Statistical Reporting Update - March 2015
Published March 6, 2015 | March 2015 issue
Ninth District banking institutions provide the Federal Reserve Bank of Minneapolis with regulatory report submissions. Virtually all regulatory report data become public. We hold a small amount of regulatory report data confidential. We describe which data we make public and which we hold confidential in this article. We also summarize how we maintain security of confidential data. Note that this article does not discuss the treatment of confidential supervisory information gathered through examination and supervisory processes.
Public and confidential data
Federal regulations and Federal Reserve System policies dictate which regulatory reporting data we must make public.1 Data we collect fall into four general categories: financial, structural, monetary policy and supervisory. There are different publication practices for each of these categories.
Financial data are composed of standardized balance sheets, income statements and supporting detailed information on specific assets, liabilities and capital components. Examples include the Consolidated Reports of Condition and Income for a Bank with Domestic Offices Only (FFIEC 041) and the Parent Company Only Financial Statements for Small Holding Companies (FR Y-9SP). Banking companies are required to provide these data either quarterly or semi-annually, and the Federal Reserve publishes the data at the institution level.
Structural data are information on the companies’ activities, ownership and organization. We collect and maintain structural data about all institutions regulated by the Federal Reserve through the Annual Report of Holding Companies (FR Y-6) and the Report of Changes in Organizational Structure (FR Y-10). Institutions frequently ask us about the public nature of the insider and shareholder data provided in the FR Y-6. We make the names, positions and ownership interests of holding company officers and directors public. We also make the names of shareholders owning 5 percent or more of a holding company public. However, for both the FR Y-6 and FR Y-10, holding companies may request confidential treatment for other information.
We collect monetary policy data through mandatory reports and voluntary surveys for the purposes of monitoring economic indicators and implementing monetary policy decisions. Examples include the Report of Transaction Accounts, Other Deposits and Vault Cash (FR 2900/Q) and the Weekly Report of Selected Assets and Liabilities of Domestically Chartered Banks and U.S. Branches and Agencies of Foreign Banks (FR 2644). We publish these data only on an aggregated “macro” level. We do not release these data by individual institutions.
Supervisory data focus on monitoring compliance with specific banking regulations or federal mandates. Examples include the Bank Holding Company Report of Insured Depository Institutions’ Section 23A Activity with Affiliates (FR Y-8) and the Liquidity Monitoring Report (FR 2052b). We do not release supervisory data to the public in any manner.
How we make information public
The Federal Reserve makes the public data available in a variety of methods. We publish financial data and certain FR Y-10 data at http://www.ffiec.gov/nicpubweb/nicweb/nichome.aspx. We do not publish the FR Y-6, but will make that report public in response to a request via the Freedom of Information Act. The Federal Reserve System publishes aggregated monetary policy data in Statistical Releases and the Federal Reserve Bulletin.
Ensuring data security
Ensuring the security and appropriate release of the data we receive is a key concern. The Statistical & Structure Reporting unit takes precautions to ensure the integrity and security of data even before we receive it. We limit access to the Internet Electronic Submission and Reporting Central applications to specific individuals authorized by the reporting organization. Reporting Central complies with enhanced federal information security standards and provides additional safeguards against threats of unauthorized access.
Once we receive the data, we follow comprehensive policies and procedures to ensure that we process and store the data appropriately. Reserve Bank staff and management participate in regular training sessions, conduct access reviews and are audited for compliance with established data handling procedures.
1 Individual respondents may, in most instances, request confidentiality for certain financial and structural data provided to the Federal Reserve that would otherwise be made available to the public. Please contact a Statistical & Structure Reporting analyst at email@example.com or (888) 887-0926 for more information.