Avoid these common holding-company reporting errors
Abstract: Small bank holding companies are required to file semiannual FR Y-9SP reports with the Federal Reserve Board (FRB). The FRB uses information in these reports to monitor and analyze a holding company’s financial condition, spot potential financial trends or problems and review merger and acquisition applications. However, in a recent paper, FRB staff outlined common errors made on holding companies’ FR Y-9SP reports. This article looks at some of the errors involving call reports and structure reports, along with other errors.