Annual Stress Test Reporting Templates and Documentation for Covered Banks with Total Consolidated Assets of $50 Billion or More under Dodd-Frank

ICR 201703-3064-008

OMB: 3064-0189

Federal Form Document

ICR Details
3064-0189 201703-3064-008
Historical Active 201603-3064-002
FDIC
Annual Stress Test Reporting Templates and Documentation for Covered Banks with Total Consolidated Assets of $50 Billion or More under Dodd-Frank
Revision of a currently approved collection   No
Regular
Approved without change 03/23/2018
Retrieve Notice of Action (NOA) 03/29/2017
  Inventory as of this Action Requested Previously Approved
03/31/2021 36 Months From Approved 08/31/2019
5 0 26
5,200 0 122,478
0 0 0

On October 15, 2012, the FDIC published in the Federal Register a final rule on annual stress testing (Annual Stress Test Rule) that is applicable to all state nonmember banks and state savings associations with over $10 billion in total consolidated assets (covered banks) pursuant to the requirements of section 165(i)(2) of the Dodd-Frank Act Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). The Office of the Comptroller of the Currency (OCC) and the Board of Governors of the Federal Reserve System (Board) issued annual stress test final rules for their regulated entities near in time to the FDIC’s Annual Stress Test Rule. The regulations across the Federal banking agencies are consistent and comparable as required by the Dodd-Frank Act. The Dodd-Frank Act stress testing requirements apply to all covered banks (those with over $10 billion in total consolidated assets), but the FDIC recognized that the stress tests conducted by covered banks with consolidated total assets of $50 billion or more would be applied to more complex portfolios, and therefore warranted a broader set of reports to adequately capture the results of the company-run stress tests. These reports necessarily required more detail than would be appropriate for smaller, less complex institutions. Therefore, in coordination with the other Federal banking agencies, the FDIC specified separate reporting templates: (1) for covered banks with total consolidated assets of greater than $10 billion and less than $50 billion (OMB Control Number 3064-0187) and (2) for covered banks with total consolidated assets of $50 billion or more (this ICR). The FDIC’s, the OCC’s, and Board’s Annual Stress Test Rules require their respective covered institutions with total consolidated assets of $50 billion or more to conduct annual stress tests and report on those tests to the relevant agency by March 31, 2016. The FDIC, OCC, and Board have coordinated the revisions to the reporting templates that the covered institutions in this category will use to report. On April 14, 2014, the FDIC published a final rule in the Federal Register that revised and replaced the FDIC's risk-based and leverage capital requirements to be consistent with agreements reached by the Basel Committee on Banking Supervision in “Basel III: A Global Regulatory Framework for More Resilient Banks and Banking Systems” (Basel III). The revisions included implementation of a new definition of regulatory capital, a new common equity tier 1 minimum capital requirement, a higher minimum tier 1 capital requirement, and, additional requirements for banking organizations subject to the Advanced Approaches capital rules. All banking organizations that were not subject to the Advanced Approaches Rule had to begin to comply with the revised capital framework on January 1, 2015. In light of the finalization of the Basel III capital rules, the FDIC is revising the FDIC DFAST-14A reporting templates by adding data items, deleting data items, and redefining existing data items. These changes will (1) provide additional information to greatly enhance the ability of the FDIC to analyze the validity and integrity of firms' projections, (2) improve comparability across firms, and (3) increase consistency between the FR Y-14A reporting templates and DFAST-14A reporting templates.

None
None

Not associated with rulemaking

  81 FR 85223 11/25/2016
82 FR 14726 03/22/2017
No

  Total Approved Previously Approved Change Due to New Statute Change Due to Agency Discretion Change Due to Adjustment in Estimate Change Due to Potential Violation of the PRA
Annual Number of Responses 5 26 0 0 -21 0
Annual Time Burden (Hours) 5,200 122,478 0 0 -117,278 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No
The Stress Test Reporting Templates for Institutions Between $10 Billion and $50 Billion is a separate information collection under control number 3064-0187. The IC and related burden for Stress Test reporting for institutions between $10 and $50 Billion should have been removed from this ICR when it was reported under 3064-0187. FDIC is now removing the IC for Stress Test Reporting Templates for Institutions Between $10 Billion and $50 Billion (and the related burden) from this ICR to correct the error. There has never been a recordkeeping component to this information collection. The recordkeeping burden previously reflected in the IC for institutions $50 Billion and over was actually the implementation burden associated with this information collection when it was first created many years ago. All initially-affected institutions (4) have now gone through the implementation phase and no longer face an implementation burden. Any institution reaching the $50 Billion or more threshold will have gone through implementation at the $10 to $50 Billion level (3064-0187) and the implementation burden is currently reflected under that control number. This is, in fact, the case with respect to the one additional institution joining the roster of respondents (which is now 5). That institution was previously reporting under 3064-1087 and went through the implementation phase when setting up to report under that ICR.

No
    No
    No
No
Yes
No
Uncollected
Manuel Cabeza 202 898-3781 mcabeza@fdic.gov

  No

On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
 
 
 
 
 
 
 
    (i) Why the information is being collected;
    (ii) Use of information;
    (iii) Burden estimate;
    (iv) Nature of response (voluntary, required for a benefit, or mandatory);
    (v) Nature and extent of confidentiality; and
    (vi) Need to display currently valid OMB control number;
 
 
 
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
03/29/2017


© 2024 OMB.report | Privacy Policy