- Type: U.S. Firm
- Structure: Top-tier Bank Holding Company (BHC)
- Organization: Organized under the laws of the United States.
- Subsidiary Status: Not a subsidiary of a Foreign Banking Organization (FBO).
- Total Consolidated Assets (Four-Quarter Average): $500 billion.
- Systemic Importance Classification: Category II Banking Organization.
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| 2. Reporting Requirements Based on Classification: |
| As a U.S. firm and a Category II banking organization with total consolidated assets exceeding $100 billion, Liberty Financial Group, Inc. must submit data for: |
- The global consolidated entity.
- The parent company only (ignoring consolidated subsidiaries).
- Each material entity.
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| 3. Defined Subsidiaries and Materiality Assessment: |
| Subsidiary Name |
Legal Structure |
Country of Organization |
Total Consolidated Assets (approx.) |
Relationship to Parent |
Material Entity Determination |
| Liberty National Bank |
National Bank |
United States |
$150 billion |
Wholly-owned subsidiary |
Yes. Bank subsidiary with total consolidated assets of $150 billion, which is greater than the $10 billion threshold for bank subsidiaries. It is a material contributor to funding and liquidity operations due to its size and business activities. |
| Liberty Capital Markets Inc. |
Broker-Dealer / Investment Bank |
United States |
$75 billion |
Wholly-owned subsidiary |
Yes. Non-bank entity. While its individual asset size is below $10 billion, its business activities (underwriting, trading, M&A advisory) are complex and represent a significant portion of the BHC's overall revenue and risk profile. It is considered a material contributor to funding and liquidity operations. |
| Liberty Wealth Management LLC |
Limited Liability Company |
United States |
$5 billion |
Wholly-owned subsidiary |
No. Non-bank entity. Its asset size is below the $10 billion threshold for bank subsidiaries, and its business activities (retail wealth management) are less complex and less critical to the firm's overall funding and liquidity operations compared to other entities. Consult with supervisory team for final confirmation. |
| Liberty International Finance Ltd. |
Limited Company |
United Kingdom |
$40 billion |
Wholly-owned subsidiary |
Yes. Non-bank entity. Its significant international operations and its role in managing foreign currency funding and liquidity make it a material contributor. It is also managed from the United States. |
| Liberty Mortgage Services Corp. |
Corporation |
United States |
$15 billion |
Wholly-owned subsidiary |
Yes. Non-bank entity. Its substantial mortgage origination and servicing activities represent a significant funding and liquidity channel, making it a material contributor. |
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| 4. Reporting Structure Summary: |
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For the FR 2052a report, Liberty Financial Group, Inc. will submit data for the following reporting lines:
- Global Consolidated Entity: Representing the entire consolidated financial position of Liberty Financial Group, Inc. and all its subsidiaries.
- Parent Company Only: Representing Liberty Financial Group, Inc. as a standalone entity, excluding the assets and liabilities of its consolidated subsidiaries.
- Material Entity 1: Liberty National Bank
- Material Entity 2: Liberty Capital Markets Inc.
- Material Entity 3: Liberty International Finance Ltd.
- Material Entity 4: Liberty Mortgage Services Corp.
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| 5. Notes and Considerations: |
- Consultation with Supervisory Team: Liberty Financial Group, Inc. will consult with its designated supervisory team at the Federal Reserve to confirm the materiality of Liberty Wealth Management LLC and to identify any other potential material entities not explicitly listed above (e.g., special purpose vehicles, specific funding entities, or entities with unique risk profiles).
- Data Aggregation: For each reporting line (global consolidated, parent only, and each material entity), specific liquidity and funding data points will be collected and aggregated as required by the FR 2052a instructions.
- Data Validation: Rigorous data validation processes will be in place to ensure the accuracy and completeness of the submitted data for all reporting lines.
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