Agency Information Collection Activities: Revision of an Approved Information Collection; Comment Request; Company-Run Annual Stress Test Reporting Template and Documentation for Covered Institutions With Total Consolidated Assets of $250 Billion or More Under the Dodd-Frank Wall Street Reform and Consumer Protection Act
| Published date | 27 October 2021 |
| Citation | 86 FR 59447 |
| Record Number | 2021-23398 |
| Section | Notices |
| Court | The Comptroller Of The Currency Office |
Federal Register, Volume 86 Issue 205 (Wednesday, October 27, 2021)
[Federal Register Volume 86, Number 205 (Wednesday, October 27, 2021)]
[Notices]
[Pages 59447-59448]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-23398]
=======================================================================
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
Agency Information Collection Activities: Revision of an Approved
Information Collection; Comment Request; Company-Run Annual Stress Test
Reporting Template and Documentation for Covered Institutions With
Total Consolidated Assets of $250 Billion or More Under the Dodd-Frank
Wall Street Reform and Consumer Protection Act
AGENCY: Office of the Comptroller of the Currency, Treasury (OCC).
ACTION: Notice and request for comment.
-----------------------------------------------------------------------
SUMMARY: The OCC, as part of its continuing effort to reduce paperwork
and respondent burden, invites the general public and other federal
agencies to take this opportunity to comment on a continuing
information collection as required by the Paperwork Reduction Act of
1995 (PRA). In accordance with the requirements of the PRA, the OCC may
not conduct or sponsor, and the respondent is not required to respond
to, an information collection unless it displays a currently valid
Office of Management and Budget (OMB) control number. The OCC is
soliciting comment concerning a revision to a regulatory reporting
requirement for national banks and federal savings associations titled,
``Company-Run Annual Stress Test Reporting Template and Documentation
for Covered Institutions with Total Consolidated Assets of $250 Billion
or More under the Dodd-Frank Wall Street Reform and Consumer Protection
Act.''
DATES: Comments must be received by December 27, 2021.
ADDRESSES: Commenters are encouraged to submit comments by email, if
possible. You may submit comments by any of the following methods:
Email: [email protected].
Mail: Chief Counsel's Office, Attention: Comment
Processing, Office of the Comptroller of the Currency, Attention: 1557-
0319, 400 7th Street SW, Suite 3E-218, Washington, DC 20219.
Hand Delivery/Courier: 400 7th Street SW, Suite 3E-218,
Washington, DC 20219.
Fax: (571) 465-4326.
Instructions: You must include ``OCC'' as the agency name and
``1557-0319'' in your comment. In general, the OCC will publish
comments on www.reginfo.gov without change, including any business or
personal information provided, such as name and address information,
email addresses, or phone numbers. Comments received, including
attachments and other supporting materials, are part of the public
record and subject to public disclosure. Do not include any information
in your comment or supporting materials that you consider confidential
or inappropriate for public disclosure.
You may review comments and other related materials that pertain to
this information collection beginning on the date of publication of the
second notice for this collection by the method set forth in the next
bullet. Following the close of this notice's 60-day comment period, the
OCC will publish a second notice with a 30-day comment period.
Viewing Comments Electronically: Go to www.reginfo.gov.
Hover over the ``Information Collection Review'' tab and click on
``Information Collection Review'' dropdown. Underneath the ``Currently
under Review'' section heading, from the drop-down menu select
``Department of Treasury'' and then click ``submit.'' This information
collection can be located by searching by OMB control number ``1557-
0319'' or ``Company-Run Annual Stress Test Reporting Template and
Documentation for Covered Institutions with Total Consolidated Assets
of $250 Billion or More under the Dodd-Frank Wall Street Reform and
Consumer Protection Act.'' Upon finding the appropriate information
collection, click on the related ``ICR Reference Number.'' On the next
screen, select ``View Supporting Statement and Other Documents'' and
then click on the link to any comment listed at the bottom of the
screen.
For assistance in navigating www.reginfo.gov, please
contact the Regulatory Information Service Center at (202) 482-7340.
FOR FURTHER INFORMATION CONTACT: Shaquita Merritt, OCC Clearance
Officer, (202) 649-5490, Chief Counsel's Office, Office of the
Comptroller of the Currency, 400 7 St. SW, Washington, DC 20219. In
addition, copies of the templates referenced in this notice can be
found on the OCC's website under News and Issuances (http://www.occ.treas.gov/tools-forms/forms/bank-operations/stress-test-reporting.html).
SUPPLEMENTARY INFORMATION: The OCC is requesting comment on the
following revision to an approved information collection:
Title: Company-Run Annual Stress Test Reporting Template and
Documentation for Covered Institutions with Total Consolidated Assets
of $250 Billion or More under the Dodd-Frank
[[Page 59448]]
Wall Street Reform and Consumer Protection Act.
OMB Control No.: 1557-0319.
Description: Section 165(i)(2) of the Dodd-Frank Wall Street Reform
and Consumer Protection Act \1\ (Dodd-Frank Act) requires certain
financial companies, including national banks and federal savings
associations, to conduct annual stress tests \2\ and requires the
primary financial regulatory agency \3\ of those financial companies to
issue regulations implementing the stress test requirements.\4\ Under
section 165(i)(2), a covered institution is required to submit to the
Board of Governors of the Federal Reserve System (Board) and to its
primary financial regulatory agency a report at such time, in such
form, and containing such information as the primary financial
regulatory agency may require.\5\
---------------------------------------------------------------------------
\1\ Public Law 111-203, 124 Stat. 1376, July 2010.
\2\ 12 U.S.C. 5365(i)(2)(A).
\3\ 12 U.S.C. 5301(12).
\4\ 12 U.S.C. 5365(i)(2)(C).
\5\ 12 U.S.C. 5365(i)(2)(B).
---------------------------------------------------------------------------
On October 9, 2012, the OCC published in the Federal Register a
final rule implementing the section 165(i)(2) annual stress test
requirement.\6\ This rule describes the reports and information
collections required to meet the reporting requirements under section
165(i)(2). These information collections will be treated as
confidential (to the extent permitted by law.\7\
---------------------------------------------------------------------------
\6\ 77 FR 61238 (October 9, 2012) (codified at 12 CFR part 46).
\7\ 5 U.S.C. 552(b)(4).
---------------------------------------------------------------------------
In 2012, the OCC first implemented the reporting templates
referenced in the final rule.\8\ The OCC uses the data collected to
assess the reasonableness of the stress test results of covered
institutions and to provide forward-looking information to the OCC
regarding a covered institution's capital adequacy. The OCC also may
use the results of the stress tests to determine whether additional
analytical techniques and exercises could be appropriate to identify,
measure, and monitor risks at the covered institution. The stress test
results are expected to support ongoing improvement in a covered
institution's stress testing practices with respect to its internal
assessments of capital adequacy and overall capital planning.
---------------------------------------------------------------------------
\8\ See, 77 FR 49485 (August 16, 2012) and 77 FR 66663 (November
6, 2012).
---------------------------------------------------------------------------
The OCC recognizes that many covered institutions with total
consolidated assets of $250 billion or more are required to submit
reports using Comprehensive Capital Analysis and Review (CCAR)
reporting form FR Y-14A.\9\ The OCC also recognizes the Board has made
modifications to the FR Y-14A and, to the extent practical, the OCC
will keep its reporting requirements consistent with the Board's FR Y-
14A in order to minimize burden on covered institutions.\10\
---------------------------------------------------------------------------
\9\ http://www.federalreserve.gov/reportforms.
\10\ 86 FR 708 (Jan. 6, 2021); 86 FR 7927 (Feb. 3, 2021).
---------------------------------------------------------------------------
The OCC's proposed changes include only limited updates to reflect
the changes made by the Board, and the proposed OCC reporting forms
will substantially resemble the forms used by the OCC last year. Some
of the changes made by the Board are inapplicable to OCC-regulated
institutions and involve new items that would not be collected by the
OCC under the proposed changes. For example, the OCC's, Board's, and
Federal Deposit Insurance Corporation's January 6, 2021 final rule
revising risk-based capital requirements included new items on the FR
Y-14A that are inapplicable at the depository institution level (for
example, ``outstanding eligible long-term debt'') and will therefore
not be collected under the OCC's proposed revisions. Similarly, in 2021
the OCC's reporting forms did not collect other items collected on the
2021 FR Y-14A (for example, line items related to the stress capital
buffer), and the OCC's proposed changes also do not include these
items. The OCC's proposed changes include the minimal adjustments
necessary to align line items with placement on the 2021 FR Y-14A. If
the FRB proposes additional changes to the FR Y-14A reporting forms
after the publication of this notice, the OCC expects to make
corresponding changes to the OCC reporting forms to minimize
inconsistencies and reduce burden.
Type of Review: Revision.
Affected Public: Businesses or other for-profit.
Estimated Number of Respondents: 8.
Estimated Total Annual Burden: 4,212 hours.
The OCC believes that the systems covered institutions use to
prepare the FR Y-14 reporting templates to submit to the Board will
also be used to prepare the reporting templates described in this
notice. Comments submitted in response to this notice will be
summarized and included in the request for OMB approval. All comments
will become a matter of public record. Comments are invited on: (a)
Whether the collection of information is necessary for the proper
performance of the functions of the OCC, including whether the
information has practical utility; (b) The accuracy of the OCC's
estimate of the burden of the collection of information; (c) Ways to
enhance the quality, utility, and clarity of the information to be
collected; (d) Ways to minimize the burden of the collection on
respondents, including the use of automated collection techniques or
other forms of information technology; and (e) Estimates of capital or
start-up costs and costs of operation, maintenance, and purchase of
services to provide information.
Theodore J. Dowd,
Deputy Chief Counsel, Office of the Comptroller of the Currency.
[FR Doc. 2021-23398 Filed 10-26-21; 8:45 am]
BILLING CODE 4810-33-P
