The Clearing House Association (TCH) submitted an unsolicited joint-trades comment letter regarding the potential introduction of a CFO and/or Chief Auditor attestation requirement for Forms FR Y-14A, FR Y-14Q and/or FR Y-14M that may be under consideration by the Fed. The letter provides initial concerns given the serious and significant problems associated with attestation in this context. The Fed previously proposed and ultimately decided not to adopt an attestation requirement for the FR Y-14 Forms in 2012. TCH will lead the industry effort in response to any NPR requiring attestation for the FR Y-14 report series.
You Might Also Be Interested In...
Regulatory Reporting and Accounting BPI Comments to Banking Agencies on Reporting of Notional Pool Balances on Schedule RC-O of the Call Reports
Regulatory Reporting and Accounting BPI and IIB Comment on Federal Reserve Proposal to Revise FR Y-7Q Capital and Asset Report for Foreign Bank Organizations
Regulatory Reporting and Accounting BPI Comments on Fed Proposal to Revise Structure Reporting and Recordkeeping Requirements for Domestic and Foreign Banking Organizations
FinTech & Innovation BPI and SIFMA Submit Letter to Congress in Response to SEC Staff Accounting Interpretation on Crypto-assets
Security Financial Trades Support Modified SEC Cyber Incident Disclosure Proposal to Aid Law Enforcement and Support Remediation Efforts
Regulatory Reporting and Accounting BPI Comments on Federal Reserve Implementation of Capital Assessments and Stress Testing Reports
More Posts by This Author
Artificial Intelligence The Role of Machine Learning and Alternative Data in Expanding Access to Credit: Fintechs’ Regulatory Advantage Is to the Detriment of Consumers
Data Aggregators Idling on Data Aggregator Rules Jeopardizes Sensitive Data of 200 Million+ Consumer Accounts
Digital Assets BPI and Trade Coalition Responds to Basel’s Prudential Treatment of Cryptoasset Exposures