Question

The FR Y-9LP report code reports parent company only financial statements for large holding companies.

a) True
b) False

Answer 1

The FR Y-9LP report code does not report parent company only financial statements for large holding companies.

Step-by-step explanation:

The statement is false. The FR Y-9LP report code does not report parent company only financial statements for large holding companies. Instead, it is a regulatory report that collects consolidated financial information about holding companies and their subsidiaries.