The FR 2886b reporting form is filed quarterly and annually by banking Edge and agreement corporations and investment (nonbanking) Edge and agreement corporations (collectively, âEdges or Edge corporationsâ). The mandatory FR 2886b comprises an income statement with two schedules reconciling changes in capital and reserve accounts and a balance sheet with 11 supporting schedules. Other than examination reports, it provides the only financial data available for these entities. The Federal Reserve is solely responsible for authorizing, supervising, and assigning ratings to Edges. The Federal Reserve uses the data collected on the FR 2886b to identify present and potential problems and monitor and develop a better understanding of activities within the industry.
US Code:
12 USC 602
Name of Law: Federal Reserve Act
US Code:
12 USC 625
Name of Law: Federal Reserve Act
The estimated total annual burden for the FR 2886b is 1,433 hours and will increase to 1,652 hours. The average estimated hours per response for the (1) quarterly banking FR 2886b filers will increase from 15.15 hours to 15.77 hours, an increase of 0.62 hours; (2) annual banking FR 2886b filers will increase from 15.15 hours to 15.87 hours, an increase of 0.72 hours; (3) quarterly investment FR 2886b filers will increase from 9.6 hours to 11.81 hours, an increase of 2.21 hours; and (4) annual investment FR 2886b filers will increase from 9.6 hours to 10.82 hours, an increase of 1.22 hours. The estimated reporting burden is lower for investment Edges, which file only 4 supporting schedules, than for banking Edges, which file all 11 supporting schedules.
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
Form FR 2886b Banking Edge and agreement corporations (quarterly)
CECL_20190328_omb.pdf
Banking Edge and agreement corporations (quarterly)