Consolidated Financial Statements for Holding Companies-FR Y-9C

FR Y-9C

OMB Number 7100-0128

Approval expires December 31, 2024 Page 1 of 76

Board of Governors of the Federal ReserveSystem

Consolidated Financial Statements for Holding Companies-FR Y-9C

Report at the close of business as of the last calendar day of the quarter

This Report is required by law: Section 5(c) of the BHC Act

(12 U.S.C. § 1844(c)), section 10 of Home Owners' Loan Act (HOLA) (12 U.S.C. § 1467a(b)), section 618 of the Dodd-Frank Act

(12 U.S.C. § 1850a(c)(1)), section 165 of the Dodd-Frank Act

(12 U.S.C. § 5365), and section 252.153(b)(2) of Regulation YY

(12 CFR 252.153(b)(2)).

This report form is to be filed by holding companies with total consolidated assets of $3 billion or more. In addition, holding

companies meeting certain criteria must file this report (FR Y-9C) regardless of size. See page 1 of the general instructions for fur-ther information. However, when such holding companies own or control, or are owned or controlled by, other holding companies, only the top-tier holding company must file this report for the con-solidated holding company organization. The Federal Reserve may not conduct or sponsor, and an organization (or a person) is not required to respond to, a collection of information unless it dis-plays a currently valid OMB control number.

NOTE: Each holding company's board of directors and senior man-agement are responsible for establishing and maintaining an effec-tive system of internal control, including controls over the Consolidated Financial Statements for Holding Companies. The Consolidated Financial Statements for Holding Companies is to be prepared in accordance with instructions provided by the Federal Reserve System. The Consolidated Financial Statements for Holding Companies must be signed and attested by the Chief Financial Officer (CFO) of the reporting holding company (or by the individual performing this equivalent function).

I, the undersigned CFO (or equivalent) of the named holding company, attest that the Consolidated Financial Statements for Holding Companies (including the supporting schedules) for this report date have been prepared in conformance with the instruc-tions issued by the Federal Reserve System and are true and correct to the best of my knowledge and belief.

CONF

Printed Name of Chief Financial Officer (or Equivalent) (BHCK C490)

Signature of Chief Financial Officer (or Equivalent) (BHCK H321)

Date of Report:

Month / Day / Year (BHCK 9999)

U.S. Bancorp

March 31, 2022

Legal Title of Holding Company (RSSD 9017)

800 Nicollet Mall

(Mailing Address of the Holding Company) Street / PO Box (RSSD 9110)

Is confidential treatment requested for any

(check only one),

• 1. a letter justifying this request is being provided along

  with the report (BHCK KY38) ....................................................................................

• 2. a letter justifying this request has been provided separately (BHCK KY38) ........................................................................................

Person to whom questions about this report should be directed:CONF

Name / Title (BHTX 8901)

CONF

Area Code / Phone Number (BHTX 8902)

CONF

Area Code / FAX Number (BHTX 9116)

CONF

E-mail Address of Contact (BHTX 4086)

Holding companies must maintain in their files a manually signed and attested printout of the data submitted.

Public reporting burden for this information collection is estimated to vary from 5 to 1,250 hours per response, with an average of 44.79 hours per response for non-Advanced Approaches hold-ing companies with $5 billion or more and an average of 35.59 hours per response for non-Advanced Approaches holding companies with less than $5 billion in total assets and 49.80 hours for Advanced Approaches holding companies, including time to gather and maintain data in the required form and to review instructions and complete the information collection. Comments regard-ing this burden estimate or any other aspect of this information collection, including suggestions for reducing the burden, may be sent to Secretary, Board of Governors of the Federal Reserve

System, 20th and C Streets, NW, Washington, DC 20551, and to the Office of Management and Budget, Paperwork Reduction Project (7100-0128), Washington, DC 20503.

12/2021

FR Y-9C Page 2 of 76

Chief Executive Officer Contact Information

This information is being requested so the Board can distribute notifications about policy initiatives and other matters directly to the Chief Executive Officers of reporting institutions. Please provide contact information for the Chief Executive Officer of the reporting institution. Enter "none" for the Chief Executive Officer's email address if not available. Chief Executive Officer contact information is for the confidential use of the Board and will not be released to the public.

Chief Executive Officer

CONF

Name (BHCK FT42)

CONF

Area Code / Phone Number / Extension (BHCK FT43)

CONF

E-mail Address (BHCK FT44)

12/2021

Report of Income for Holding Companies

Report all Schedules of the Report of Income on a calendar year-to-date basis.

Schedule HI-Consolidated Income Statement

• 1. Interest income

  • a. Interest and fee income on loans:

  • b. Income from lease financing receivables ................................................................................................

  • c. Interest income on balances due from depository institutions(1)........................................................

  • d. Interest and dividend income on securities:

  • e. Interest income from trading assets(2)............................................................................................................................................

  • f. Interest income on federal funds sold and securities purchased under agreements to resell ...............................................................................................................................................................

  • g. Other interest income ...................................................................................................................................

  • h. Total interest income (sum of items 1.a through 1.g) ............................................................................

• 2. Interest expense

  • a. Interest on deposits:

  • b. Expense on federal funds purchased and securities sold under agreements to repurchase .......................................................... 2...b ..............................

  • c. Interest on trading liabilities and other borrowed money

  • d. Interest on subordinated notes and debentures and on mandatory convertible

  securities(2)...........................................................................................................................................................	2.d.
  e. Other interest expense ..................................................................................................................................	2.e.
  f. Total interest expense (sum of items 2.a through 2.e) .............................................................................	2.f.
  3. Net interest income (item 1.h minus item 2.f) ...............................................................................................	3.
  4. Provision for loan and lease losses(3)..................................................................................................................	4.
  5. Noninterest income:
  a. Income from fiduciary activities ......................................................................................................................................................	5.a.
  b. Service charges on deposit accounts in domestic offices ....................................................................	5.b.
  c. Trading revenue(2,4).........................................................................................................................................	5.c.
  03/2022

  (excluding subordinated notes and debentures) ............................................................................................................................. 2 .... c..

  BHCK	Amount
  .4..4..3..5..	. 739,000
  ..4.4..3..6..	. 279,000
  ..F..8..2.1...	...... 1,520,000
  ..4..0.59	2,000
  ..4..0..6.5	119,000
  .4115	14,000
  ..B..4..8..8..	........................9.5,000
  .B...4.8..9..	.. 551,000
  .4..0..6..0..	.... 71,000
  ..4..0..6.9...	........................1..6..,.0..0.0..
  ..4..0.2..0...	........ 0
  ..4..5..1.8...	.. 12,000
  ..4..1.07	3,418,000
  .H...K..0..3.	. 13,000
  ..H..K..0..4..	..... 3,000
  .6..7..6..1..	....... 62,000
  ..4..1.7..2	2,000
  ..4.1..8..0..	...........................1.,.0..0..0..
  ..4..1..8.5...	......................1..2..8..,.0..0.0...
  ..4..3..9.7...	.......... 36,000
  ..4..3..9.8...	... 0
  ..4..0.7..3.	245,000
  .4..0..7..4.	3,173,000
  ..J..J.3..3..	........ 114,000
  ..4..0..7..0..	.......................3.9..3..,.0..0.0...
  ..4..483	307,000
  ..A..2.2..0..	...... 65,000

  Dollar Amounts in Thousands

  • (1) In domestic offices:

    • (a) Loans secured by 1 - 4 family residential properties .....................................................................

      1.a.(1)(a)

    • (b) All other loans secured by real estate ............................................................................................

      1.a.(1)(b)

    • (c) All other loans ......................................................................................................................................

    1.a.(1)(c)

  • (2) In foreign offices, Edge and Agreement subsidiaries, and IBFs .....................................................

  1.a.(2)

  1.b.

  1.c.

  • (1) U.S. Treasury securities and U.S. government agency obligations

    (excluding mortgage-backed securities) ......................................................................................................................

  • (2) Mortgage-backed securities ..................................................................................................................

  • (3) All other securities ...................................................................................................................................

  1.d.(1) 1.d.(2) 1.d.(3) 1.e.

  1.f. 1.g. 1.h.

  • (1) In domestic offices:

    • (a) Time deposits of $250,000 or less ..................................................................................................

      2.a.(1)(a)

    • (b) Time deposits of more than $250,000 ................................................................................................

      2.a.(1)(b)

    • (c) Other deposits ......................................................................................................................................

2.a.(1)(c)

• (2) In foreign offices, Edge and Agreement subsidiaries, and IBFs .......................................................2.a.(2)

• (2)

  • 1. Includes interest income on time certificates of deposit not held for trading.

  2. To be completed by holding companies with $5 billion or more in total assets.(Asset-size test is based on the prior year June 30 report date). Income and or expenses pertaining to these items should be reported in the "other" categories 1.g, 2.e, and 5.l, respectively by holding companies with less than $5 billion in total assets.

  • 3. Institutions that have adopted ASU 2016-13 should report in item 4, the provisions for credit losses for all financial assetsand off-balance sheet credit exposuresthat fall within the scope of the standard.

  • 4. For holding companies required to complete Schedule HI, memoranda item 9, trading revenue reported in Schedule HI, item 5.c must equal the sum of memoranda items 9.a through 9.e.

FR Y-9C Page 4 of 76

Schedule HI-Continued

Holding companies with less than $5 billion in total assets should report data items 5.d.(6) and 5.d.(7) only and leave 5.d.(1) through 5.d.(5) blank.

5. d. Income from securities-related and insurance activities:

• e. Venture capital revenue(6)................................................................................................................................................................... 5...e.

• f. Net servicing fees ............................................................................................................................................................................... 5.f.

• g. Net securitization income(6)................................................................................................................................................................ 5.g.

• h. Not applicable.

• i. Net gains (losses) on sales of loans and lease ........................................................................................................

• j. Net gains (losses) on sales of other real estate owned ..............................................................................

• k. Net gains (losses) on sales of other assets(7)................................................................................................................................... 5...k ...............

  6.

  7.

  l. Other noninterest income(8).......................................................................................................................................	5.l.
  m. Total noninterest income (sum of items 5.a through 5.l) ...............................................................................	5.m.
  a. Realized gains (losses) on held-to-maturity securities ...............................................................................................	6.a.
  b. Realized gains (losses) on available-for-saledebtsecurities ...............................................................................................	6.b.
  Noninterest expense:
  a. Salaries and employee benefits ...............................................................................................................................................	7.a.
  b. Expenses of premises and fixed assets (net of rental income)

• c. (1) Goodwill impairment losses .................................................................................................................................(2) Amortization expense and impairment losses for other intangible assets ........................................................

• d. Other noninterest expense(9)............................................................................................................................................

• e. Total noninterest expense (sum of items 7.a through 7.d) .........................................................................

  8. a. Income (loss) beforechange in netunrealized holding gains (losses) on equity securities not held for trading, applicable income taxes, and discontinued operations

• b.Change in netunrealized holding gains (losses) on equity securities not held for trading(10).............................................................

• c. Income (loss) before applicable income taxes and discontinued operations

(sum of items 8.a and 8.b) ...............................................................................................................................................9. Applicable income taxes (on item 8.c) ..............................................................................................................

10. Income (loss) before discontinued operations (item 8.c minus item 9) .................................................................................................... 1..0 ...................................

• 11. Discontinued operations, net of applicable income taxes(11)..........................................................................................

• 12. Net income (loss) attributable to holding company and noncontrolling

  13.
  14.	Net income (loss) attributable to holding company (item 12 minus item 13) ...............................................................	14.
  5.	Includes underwriting income from insurance and reinsurance activities.
  6.	To be completed by holding companies with $5 billion or more in total assets.(Asset-size test is based on the prior year June 30
  report date). Income and or expenses pertaining to these items should be reported in the "other" categories.
  03/2022

  (minority) interests (sum of items 10 and 11) ...................................................................................................LESS: Net income (loss) attributable to noncontrolling (minority) interests

(if net income, report as a positive value; if net loss, report as a negative value) .................................................................................. 13.

Dollar Amounts in Thousands

• (1) Fees and commissions from securities brokerage .............................................................................

  5.d.(1)

• (2) Investment banking, advisory, and underwriting fees and commissions .......................................................................

  5.d.(2)

• (3) Fees and commissions from annuity sales .............................................................................................................................

  5.d.(3)

• (4) Underwriting income from insurance and reinsurance activities ......................................................................................

  5.d.(4)

• (5) Income from other insurance activities ..................................................................................................................................

  5.d.(5)

• (6) Fees and commissions from securities brokerage, investment banking, advisory, and underwriting fees and commissions ...........................................................................................................................

  5.d.(6)

• (7) Income from insurance activities(5)................................................................................................................................................ 5...d...(.7..) ...........

• 5.i.

  5.j.

  7.c.(1)

  7.c.(2)

  7.d.

  7.e.

• (sum of items 3, 5.m, 6.a, 6.b, minus items 4 and 7.e) .....................................................................................................................8.a.

  8.b.

  8.c.

  9.

  11.

  12.

  • 7. Excludes net gains (losses) on sales of trading assets and held-to-maturity and available-for-saledebtsecurities.

  • 8. See Schedule HI, memoranda item 6.

  • 9. See Schedule HI, memoranda item 7.

  • 10. Item 8.b is to be completed by all holding companies. See the instructions for this item and the Glossary entry for "Securities Activities" for further detail on accounting for investments in equity securities.

  • 11. Describe on Schedule HI, memoranda item 8.

FR Y-9C Page 5 of 76

Schedule HI-Continued

Memoranda

• 1. Net interest income (item 3 above) on a fully taxable equivalent basis .........................................................................4..5..1..9..

  M.1.

• 2. Net income before applicable income taxes, and discontinued operations (item 8.c above)

  on a fully taxable equivalent basis ..................................................................................................................................4.5..9..2....................

  M.2.

• 3. Income on tax-exempt loans and leases to states and political subdivisions in the U.S.

  (included in Schedule HI, items 1.a and 1.b, above) ......................................................................................................4.3..1..3...

  M.3.

• 4. Income on tax-exempt securities issued by states and political subdivisions in the U.S.

  (included in Schedule HI, item 1.d.(3), above) ...............................................................................................................4..5..0.7........

  M.4.

• 5. Number of full-time equivalent employees at end of current period

  (round to nearest whole number) ...................................................................................................................................4..1..5..0.............................7..0.,.1..89

M.5.

Memo Items 6.a through 6.j are to be completed annually on a calendar year-to-date basis in the December report only by holding companies with less than $5 billion in total assets. Holding companies with $5 billion or more in total assets should report these items on a quarterly basis.(1)

6. Other noninterest income (from Schedule HI, item 5.l, above) (only report amounts greater than $100,000 that exceed 7 percent of Schedule HI, item 5.I):

a. b. c. d. e.

Income and fees from the printing and sale of checks ............................................................................................C..0..1..3........Earnings on/increase in value of cash surrender value of life insurance ................................................................C...0.1..4....Income and fees from automated teller machines (ATMs) ......................................................................................C..0..1..6.............Rent and other income from other real estate owned .............................................................................................4..0..4..2...

Safe deposit box rent ...............................................................................................................................................C..0..1.5............

M.6.a. M.6.b. M.6.c. M.6.d. M.6.e.

f. g.

Bank card and credit card interchange fees ............................................................................................................F..5..5..5..... Income and fees from wire transfers .......................................................................................................................T..0..4..7.......TEXT

M.6.f.

M.6.g.

h.

i.

8562 TEXT 8563 TEXT

Merchant processing services

M.6.h.

Corporate payment products revenue

M.6.i.

j.

8564Change in the fair value of mortgage loans held for sale

M.6.j.

Memo Items 7.a through 7.p are to be completed annually on a calendar year-to-date basis in the December report only by holding companies with less than $5 billion in total assets. Holding companies with $5 billion or more in total assets should report these items on a quarterly basis.(1)

7. Other noninterest expense (from Schedule HI, item 7.d, above) (only report amounts greater

than $100,000 that exceed 7 percent of the sum of Schedule HI, item 7.d):

• a. Data processing expenses .............................................................................................................................................C..0..1..7...........................1..3.0..,000

• b. Advertising and marketing expenses .............................................................................................................................0..4..9..7.....................75,000

• c. Directors' fees .................................................................................................................................................................4.1..3..6............................0

• d. Printing, stationery, and supplies ...................................................................................................................................C..0..1..8.....................0

• e. Postage ..........................................................................................................................................................................8..4..0..3.....................................0

• f. Legal fees and expenses ...............................................................................................................................................4..1..4..1.....

• g. FDIC deposit insurance assessments(2).....................................................................................................................4..1.4..6..............................C...O..N..F

• h. Accounting and auditing expenses ................................................................................................................................F..5..5..6....

• i. Consulting and advisory expenses ................................................................................................................................F..5..5..7.....

• j. Automated teller machine (ATM) and interchange expenses ........................................................................................F..5..5..8

• k. Telecommunications expenses ......................................................................................................................................F..5..5.9..

• l. Other real estate owned expenses .................................................................................................................................Y..9.2..3.............

M.7.a. M.7.b. M.7.c. M.7.d. M.7.e. M.7.f. M.7.g. M.7.h. M.7.i. M.7.j. M.7.k. M.7.l.

• 1. Asset-size test is based on the total assets reported as of prior year June 30 report date.

• 2. Amounts reported in Memorandum item 7.g will not be made available to the public on an individual institution basis.

03/2022

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U.S. Bancorp published this content on 29 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 May 2022 22:14:28 UTC.