Annual Stress Test Reporting Templates and Documentation for Covered Banks with Total Consolidated Assets of $250 Billion or More under Dodd-Frank

ICR 201901-3064-001

OMB: 3064-0189

Federal Form Document

ICR Details
3064-0189 201901-3064-001
Historical Inactive 201703-3064-008
FDIC
Annual Stress Test Reporting Templates and Documentation for Covered Banks with Total Consolidated Assets of $250 Billion or More under Dodd-Frank
Revision of a currently approved collection   No
Regular
Comment filed on proposed rule and continue 02/22/2019
Retrieve Notice of Action (NOA) 01/16/2019
Please highlight the convergance of the agencies to a unified methodology.
  Inventory as of this Action Requested Previously Approved
03/31/2021 36 Months From Approved 03/31/2021
5 0 5
5,200 0 5,200
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. The Federal Deposit Insurance Corporation (FDIC) proposes to issue a rule that would revise the FDIC’s requirements for stress testing by FDIC-supervised institutions, consistent with changes made by Section 401 of the Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA). Specifically, the proposed rule would amend the FDIC’s existing stress testing regulations at 12 CFR Part 325 to change the minimum threshold for applicability from $10 billion to $250 billion, revise the frequency of required stress tests by FDIC-supervised institutions, and reduce the number of required stress testing scenarios from three to two. The NPR also proposes to make certain conforming and technical changes that were previously included in an April 2019 notice of proposed rulemaking that was superseded, in part, by the enactment of EGRRCPA.

Statute at Large: 132 Stat. 1296 Name of Statute: Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA)
  
Statute at Large: 132 Stat. 1296 Name of Statute: Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA)

3064-AE84 Proposed rulemaking 83 FR 67149 12/28/2018

No

No
No

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.
01/16/2019


© 2024 OMB.report | Privacy Policy