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Question: 
On the Annual Report of Holding Companies, FR Y-6 reporting, if a bank insider serves as a director for an outside not-for-profit orgranization (i.e. the organization is NOT a for-profit business), are we required to disclose his/her serving as a board member for that not-for-profit organization on Report Item 4 of the FR Y-6?
Answer: 

There are no specific exclusions mentioned in the instructions or other readily available resource materials. Call your FRB office that examines your holding company.

First published on 05/07/2023

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