Section 165 of the Dodd-Frank Wall
Street Reform and Consumer Protection Act (Dodd-Frank Act) requires
the Board to implement Regulation YY - Enhanced Prudential
Standards (12 CFR Part 252) for bank holding companies (BHCs) and
foreign banking organizations (FBOs) with total consolidated assets
of $50 billion or more. The enhanced prudential standards include
risk-based and leverage capital requirements, liquidity standards,
requirements for overall risk management (including establishing a
risk committee), stress test requirements, and debt-to-equity
limits for companies that the Financial Stability Oversight Council
(FSOC) has determined pose a grave threat to financial
stability.
US Code:
12 USC 1844(c)(1)(A) Name of Law: Bank Holding Company Act of
1956
US Code: 12
USC 3106(a) Name of Law: International Banking Act of 1978
US Code: 12
USC 5361 Name of Law: Dodd-Frank Wall Street Reform and
Consumer Protection Act
The estimated total annual
burden for the FR YY is 27,751 hours, and would increase to 27,752
hours with the revisions. The Board estimates that the average
hours per response for the new reporting requirements in section
252.44(d)(2)(ii) is 0.25 hours.
$0
No
No
No
No
No
No
No
Mark Tokarski 202-452-5241
Mark.E.Tokarski@frb.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.
FRYY_20211230_omb.pdf
Disclosure Section 252.167