Reporting forms

FR Y-9ES

Financial Statements for Employee Stock Ownership Plan Bank Holding Companies

Description: This report collects financial information from employee stock ownership plans (ESOPs) that are also bank holding companies (BHCs) on their benefit plan activities. It consists of four schedules: Statement of Changes in Net Assets Available for Benefits, Statement of Net Assets Available for Benefits, Memoranda, and Notes to the Financial Statements.

OMB: 7100-0128

Purpose: The information is used to assess and monitor the financial condition of ESOP BHCs and to monitor when the employer will be at risk for large cash flows.

Background: The Board of Governors approved the report in October 2002, for implementation on December 31, 2002. Prior to the FR Y-9ES report, ESOP BHCs filed either a Parent Company Only Financial Statements for Large BHCs (FR Y-9LP) or the Parent Company Only Financial Statements for Small BHCs (FR Y-9SP). However, these reports did not accurately reflect the ESOP's financial condition. The FR Y-9ES report is aligned more closely with an ESOP's accounting and disclosure practices and is intended to provide a clearer picture of the function and operation of an ESOP. All ESOP BHCs must file the Y-9ES, however, BHCs that are subsidiaries of ESOP BHCs (i.e., a tiered BHC) must submit (a) the Consolidated Financial Statements for BHCs (FR Y-9C), (b) the FR Y-9LP, or the FR Y-9SP.

Respondent Panel: The panel consists of all ESOP BHCs. Participation is required.

Frequency: Annually, as of close of business on December 31.

Public Release: With certain exceptions, microdata are considered public information and are available through the Board's Freedom of Information Office.

 
Last update: April 04, 2008