HTML

0001752724-19-090410.txt : 20190806 0001752724-19-090410.hdr.sgml : 20190806 20190806123555 ACCESSION NUMBER: 0001752724-19-090410 CONFORMED SUBMISSION TYPE: N-CEN PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20190531 FILED AS OF DATE: 20190806 DATE AS OF CHANGE: 20190806 EFFECTIVENESS DATE: 20190806 FILER: COMPANY DATA: COMPANY CONFORMED NAME: T. Rowe Price High Yield Fund, Inc. CENTRAL INDEX KEY: 0000754915 IRS NUMBER: 521371712 STATE OF INCORPORATION: MD FISCAL YEAR END: 0531 FILING VALUES: FORM TYPE: N-CEN SEC ACT: 1940 Act SEC FILE NUMBER: 811-04119 FILM NUMBER: 191001174 BUSINESS ADDRESS: STREET 1: 100 EAST PRATT STREET CITY: BALTIMORE STATE: MD ZIP: 21202 BUSINESS PHONE: 410-345-2000 MAIL ADDRESS: STREET 1: 100 EAST PRATT STREET CITY: BALTIMORE STATE: MD ZIP: 21202 FORMER COMPANY: FORMER CONFORMED NAME: PRICE T ROWE HIGH YIELD FUND INC DATE OF NAME CHANGE: 19920703

0000754915 S000002132 T. Rowe Price High Yield Fund, Inc.

C000005524 T. Rowe Price High Yield Fund, Inc. PRHYX

C000005525 T. Rowe Price High Yield Fund-Advisor Class PAHIX

C000159675 T. Rowe Price High Yield Fund-I Class PRHIX

0000754915 S000057617 T. Rowe Price U.S. High Yield Fund

C000183992 T. Rowe Price U.S. High Yield Fund TUHYX

C000183993 T. Rowe Price U.S. High Yield Fund-Advisor Class TUHAX

C000183994 T. Rowe Price U.S. High Yield Fund-I Class TUHIX

N-CEN 1 primary_doc.xml X0201 N-CEN LIVE 0000754915 XXXXXXXX 811-04119 false false false N-1A true T. ROWE PRICE HIGH YIELD FUND, INC. 811-04119 0000754915 549300V16MKJXZFY0080 100 East Pratt Street Baltimore 21202 US-MD US 410-345-2000 T. Rowe Price High Yield Fund, Inc. 100 East Pratt Street Baltimore 21202 410-345-2000 All accounts, books, and other documents required to be maintained by the Registrant under Section 31(a) of the Investment Company Act of 1940 and the rules thereunder. T. Rowe Price Services, Inc. 4525 Painters Mill Road Owings Mills 21117 410-345-2000 Transfer, dividend disbursing, and shareholder service records. JPMorgan Chase Bank, London Woolgate House, Coleman Street London GB EC2P 2HD 0 44 20 7742 4000 Records related to the custody of Registrant's portfolio securities which are purchased outside the United States. The Bank of New York Mellon 103 Bellevue Parkway Wilmington 19809 800-441-9800 Fund accounting records. State Street Corporation 1776 Heritage Drive Quincy 02171 617-786-3000 Custodian records for the Registrant. Y N N-1A 2 Y John G. Schreiber N/A N David Oestreicher 004594569 Y Bruce W. Duncan N/A N Cecilia E. Rouse N/A N Ronald J. Daniels N/A N Robert J. Gerrard, Jr. N/A N Robert W. Sharps N/A Y Teresa Bryce Bazemore N/A N Paul F. McBride N/A N John R. Gilner 001909214 100 East Pratt Street Baltimore 21202 XXXXXX N N N N N T. Rowe Price Investment Services, Inc. 008-25130 000008348 N/A Y N PricewaterhouseCoopers LLP 238 N/A N N N N N N N T. Rowe Price High Yield Fund, Inc. S000002132 2F9VPFCSWR3EU5WBPH73 Y 3 0 0 N/A N N Y N N/A N/A N/A Rule 32a-4 (17 CFR 270.32a-4) Y N N N T. Rowe Price Associates, Inc. 801-00856 000105496 7HTL8AEQSEDX602FBU63 N T. Rowe Price Services, Inc. 084-01079 N/A Y N T. Rowe Price Retirement Plan Services, Inc. 084-01917 N/A Y Y N Markit North America, Inc. N/A N Bloomberg Finance L.P. 5493001KJTIIGC8Y1R12 N ICE Data Services N/A N Refinitiv 549300561UZND4C7B569 N N JPMorgan Chase Bank, London 7H6GLXDRUGQFU57RNE97 GB N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) BNP Paribas Securities Services S.C.A. - Milan Branch 549300WCGB70D06XZS54 IT N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Mizuho Bank, Ltd. RB0PEZSDGCO3JS6CEU02 JP N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) JPMorgan Chase Bank, N.A. 7H6GLXDRUGQFU57RNE97 N Y Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) J.P. Morgan Bank Luxembourg S.A. 7W1GMC6J4KGLBBUSYP52 LU N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Nordea Bank Abp - Sweden Branch 529900ODI3047E2LIV03 SE N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) UBS Switzerland AG 549300WOIFUSNYH0FL22 CH N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) FirstRand Bank Limited ZAYQDKTCATIXF9OQY690 ZA N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) JPMorgan Chase Bank, N.A. - Sydney Branch 7H6GLXDRUGQFU57RNE97 AU N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Banco Itau Uruguay S.A. 549300HU8OQS1VTVXN55 UY N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Deutsche Bank AG 7LTWFZYICNSX8D621K86 DE N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Citibank del Peru S.A. MYTK5NHHP1G8TVFGT193 PE N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Royal Bank of Canada ES7IP3U3RHIGC71XBU11 CA N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) State Street Bank and Trust Company 571474TGEMMWANRLN572 N N Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) Euroclear Bank SA/NV 549300OZ46BRLZ8Y6F65 BE N Y Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7) Bank Handlowy w Warszawie Spolka Akcyjna XLEZHWWOI4HFQDGL4793 PL N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) N T. Rowe Price Services, Inc. N/A Y N T. Rowe Price Retirement Plan Services, Inc. N/A Y Y N T. Rowe Price Associates, Inc. 7HTL8AEQSEDX602FBU63 Y N N T. Rowe Price Investment Services, Inc. 008-25130 000008348 N/A 0.00000000 EVERCORE GROUP L.L.C. 008-49830 000042405 5493008F0LRLS5N8LZ81 1572.00000000 Jefferies Financial Group Inc. N/A N/A 549300HOF34RGOJ5YL07 6390.00000000 Bank of America Corporation N/A N/A 9DJT3UXIJIZJI4WXO774 2193.00000000 Morgan Stanley N/A N/A IGJSJL3JD5P30I6NJZ34 4666.00000000 BARCLAYS PLC N/A N/A 213800LBQA1Y9L22JB70 GB 4621.00000000 The Goldman Sachs Group, Inc. N/A N/A 784F5XWPLTWKTBV3E584 5115.00000000 Cowen and Company, LLC 008-22522 000007616 549300WR155U7DVMIW58 9572.00000000 Canaccord Genuity Group Inc. N/A N/A 5493002DR5KW4JP7YS87 CA 1227.00000000 Credit Suisse Group AG N/A N/A 549300506SI9CRFV9Z86 CH 3707.00000000 BMO Capital Markets Corp. N/A N/A NQQ6HPCNCCU6TUTQYE16 CA 5385.00000000 46194.00000000 Deutsche Bank Aktiengesellschaft N/A N/A 7LTWFZYICNSX8D621K86 DE 414485191.00000000 Bank of America Corporation N/A N/A 9DJT3UXIJIZJI4WXO774 723627463.00000000 The Goldman Sachs Group, Inc. N/A N/A 784F5XWPLTWKTBV3E584 621252764.00000000 Royal Bank of Canada N/A N/A ES7IP3U3RHIGC71XBU11 CA 230195963.00000000 JP MORGAN CHASE & CO. N/A N/A 8I5DZWZKVSZI1NUHU748 878702886.00000000 Credit Suisse Group AG N/A N/A 549300506SI9CRFV9Z86 CH 953332903.00000000 UBS Group AG N/A N/A 549300SZJ9VS8SGXAN81 CH 336630283.00000000 Citigroup Inc. N/A N/A 6SHGI4ZSSLCXXQSBB395 709249328.00000000 Morgan Stanley N/A N/A IGJSJL3JD5P30I6NJZ34 637957055.00000000 BARCLAYS PLC N/A N/A 213800LBQA1Y9L22JB70 GB 457414857.00000000 8016958283.00000000 Y 6899702909.00000000 0.00000000 N N N N T. Rowe Price U.S. High Yield Fund S000057617 549300GCQXH1REFHC527 Y 3 0 0 N/A N N Y N N/A N/A N/A Rule 32a-4 (17 CFR 270.32a-4) Y Y Y N T. Rowe Price Associates, Inc. 801-00856 000105496 7HTL8AEQSEDX602FBU63 N T. Rowe Price Retirement Plan Services, Inc. 084-01917 N/A Y Y T. Rowe Price Services, Inc. 084-01079 N/A Y N N Bloomberg Finance L.P. 5493001KJTIIGC8Y1R12 N ICE Data Services N/A N Markit North America, Inc. N/A N Refinitiv 549300561UZND4C7B569 N N JPMorgan Chase Bank, London 7H6GLXDRUGQFU57RNE97 GB N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Deutsche Bank AG 7LTWFZYICNSX8D621K86 DE N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) State Street Bank and Trust Company 571474TGEMMWANRLN572 N N Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) JPMorgan Chase Bank, N.A. 7H6GLXDRUGQFU57RNE97 N Y Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) Euroclear Bank SA/NV 549300OZ46BRLZ8Y6F65 BE N Y Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7) J.P. Morgan Bank Luxembourg S.A. 7W1GMC6J4KGLBBUSYP52 LU N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Royal Bank of Canada ES7IP3U3RHIGC71XBU11 CA N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) N T. Rowe Price Retirement Plan Services, Inc. N/A Y Y T. Rowe Price Services, Inc. N/A Y N N T. Rowe Price Associates, Inc. 7HTL8AEQSEDX602FBU63 Y N N T. Rowe Price Investment Services, Inc. 008-25130 000008348 N/A 0.00000000 0.00000000 Jefferies Financial Group Inc. N/A N/A 549300HOF34RGOJ5YL07 41245669.00000000 Citigroup Inc. N/A N/A 6SHGI4ZSSLCXXQSBB395 36352592.00000000 Morgan Stanley N/A N/A IGJSJL3JD5P30I6NJZ34 32298356.00000000 Bank of America Corporation N/A N/A 9DJT3UXIJIZJI4WXO774 36320825.00000000 BARCLAYS PLC N/A N/A 213800LBQA1Y9L22JB70 GB 49981808.00000000 Credit Suisse Group AG N/A N/A 549300506SI9CRFV9Z86 CH 42047870.00000000 JP MORGAN CHASE & CO. N/A N/A 8I5DZWZKVSZI1NUHU748 55051768.00000000 The Goldman Sachs Group, Inc. N/A N/A 784F5XWPLTWKTBV3E584 36575611.00000000 Deutsche Bank Aktiengesellschaft N/A N/A 7LTWFZYICNSX8D621K86 DE 40253106.00000000 Wells Fargo & Company N/A N/A PBLD0EJDB5FWOLXP3B76 32295153.00000000 494662113.00000000 N 166072398.00000000 0.00000000 N N N N false false true false false false INTERNAL CONTROL RPT 2 g1aiii_trp_high_yield.htm HTML

Report of Independent Registered Public Accounting Firm

To the Board of Directors of T. Rowe Price High Yield Fund, Inc. and Shareholders of T. Rowe Price High Yield Fund and T. Rowe Price U.S. High Yield Fund

In planning and performing our audit of the financial statements of T. Rowe Price High Yield Fund and T. Rowe Price U.S. High Yield Fund (constituting T. Rowe Price High Yield Fund, Inc., hereafter collectively referred to as the “Funds”) as of and for the year ended May 31, 2019, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), we considered the Funds’ internal control over financial reporting, including controls over safeguarding securities, as a basis for designing our auditing procedures for the purpose of expressing our opinion on the financial statements and to comply with the requirements of Form N-CEN, but not for the purpose of expressing an opinion on the effectiveness of the Funds’ internal control over financial reporting. Accordingly, we do not express an opinion on the effectiveness of the Funds’ internal control over financial reporting.

The management of the Funds is responsible for establishing and maintaining effective internal control over financial reporting. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of controls. A company’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company’s internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of a company’s assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

A deficiency in internal control over financial reporting exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the company’s annual or interim financial statements will not be prevented or detected on a timely basis.

PricewaterhouseCoopers LLP, 100 East Pratt Street Suite 2600, Suite 2700, Baltimore, Maryland 21202-1096

T: 410 783 7600; F: 410 783 7680, www.pwc.com/us

Our consideration of the Funds’ internal control over financial reporting was for the limited purpose described in the first paragraph and would not necessarily disclose all deficiencies in internal control over financial reporting that might be material weaknesses under standards established by the PCAOB. However, we noted no deficiencies in the Funds’ internal control over financial reporting and its operation, including controls over safeguarding securities, that we consider to be material weaknesses as defined above as of May 31, 2019.

This report is intended solely for the information and use of the Board of Directors of T. Rowe Price High Yield Fund, Inc. and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than these specified parties.

/s/ PricewaterhouseCoopers LLP

Baltimore Maryland

July 19, 2019