FR Y-14Q: confidential bank supervisory data (restricted access)

Confidential supervisory data: not exercised here

FR Y-14Q is confidential supervisory data collected by the Federal Reserve. It is not for sale and not publicly downloadable: it carries no provenance badge because there is no access path we can run here. Researchers reach it only through a Federal Reserve, FDIC, or OCC affiliation or an approved restricted-data arrangement, inside a secure environment, and results are subject to disclosure review. The page documents what the collection is and the gotchas; treat it as unverified. This is the honest grade under the institute’s Verified discipline.

FR Y-14Q is the quarterly data collection that supports the Federal Reserve’s stress tests (CCAR / DFAST). Large bank holding companies report detailed, often loan-level, records across many schedules. The two schedules most used in credit research are Schedule H.1 (corporate loans) and Schedule H.2 (commercial real estate), which carry loan terms, interest rates, the bank’s own probability-of-default (PD) and loss-given-default (LGD) estimates, borrower financials, and utilization. It is used in, for example Beyhaghi, Fracassi & Weitzner for loan-level interest rates, PD, LGD, and firm financials (2014Q4 to 2019Q4), Cooperman, Duffie, Luck, Wang & Yang for loan-level credit commitments and utilization, and Greenwald, Krainer & Paul for the credit-line draw analysis.

• Cost: not for sale. Restricted-access confidential supervisory data.
• Collector: Federal Reserve Board (the FR Y-14Q collection).
• Coverage: bank holding companies above the stress-test asset threshold; loan-level and aggregate schedules, quarterly. The reporting population and threshold have changed over time, so the panel is not fixed.

Access (restricted)

• No public download. Unlike the Fed’s published statistical releases, the microdata is confidential and is not posted on the Fed website or FRED.
• Through a supervisory affiliation or approved program. Access is limited to researchers at the Federal Reserve System, the FDIC, the OCC, or others granted entry to the restricted data, worked inside a secure environment with output subject to disclosure review.
• The published form and instructions are public (the Fed posts the FR Y-14Q reporting templates), so the schedule and field definitions can be read even though the data cannot be pulled.

Gotchas (the ones that bite pipelines)

These are the failure modes to expect; they are documented, not verified here.

• Coverage is only large BHCs, so it is not the banking system. Only holding companies above the stress-test asset threshold report, so the sample is a selected set of the largest banks. Do not generalise loan-level findings to community or mid-size banks.
• The reporting threshold and population changed over time. The asset threshold and the set of filers shifted across the 2010s, which breaks the panel: firms enter and exit the collection for regulatory reasons, not economic ones. Control for the changing population.
• Loan-level corporate detail starts mid-decade. The collection began early in the 2010s, but the granular loan-level corporate (H.1) reporting builds up over time; check the field-by-field start date for the window you use.
• PD and LGD are the banks’ own model outputs. Risk estimates are produced by each reporting bank’s internal models, so they are heterogeneous across filers and not a common-methodology benchmark. Treat cross-bank comparisons of PD/LGD with care.
• Definitions change across collection vintages. Schedules and instructions are revised over the years; a field can change meaning or reporting basis between vintages. Read the form instructions for your sample period.
• Output is disclosure-reviewed and cannot be redistributed. Results leave the secure environment only after review, and the microdata itself cannot be shared. Plan for aggregation and review when designing what you report.

Citation

Cite the collection and collector, e.g.: FR Y-14Q (Federal Reserve Board), confidential supervisory data; accessed under restricted-data arrangement, YYYY-MM-DD. State the schedule (for example H.1 or H.2), the sample window, and the reporting population for your period.