Proposed Revisions to FR Y-14 Reports
2024-08-01
Blog article
/ Proposed revisions to (FR Y-14A/Q/M)
The Board of Governors of the Federal Reserve System published a proposal to extend for three years, with revision, the Capital Assessments and Stress Testing Reports (FR Y-14A/Q/M).
In line with some of the data schedules in FR Y-14 series, we see the move towards granular data reporting (“GDR”) as part of a growing trend from regulators around the world, with many having already launched GDR initiatives or planning to do so in the near future. Indeed, VERMEG is already supporting many firms in meeting these new challenges.
● Granular Data Reporting represents a new paradigm in reporting, requiring new ways to manage, view and approve vast data sets
● Template reporting remains for now, and this new trend in reporting potentially places an increased burden on firms to carry out further reconciliation and data quality checks
● With the right toolset this can also present opportunities for firms to gain additional insight and value from their regulatory reporting
Find out more about the proposed changes by downloading our recent REG Desk report:
