Section 165(i)(2) of the Dodd-Frank Wall Street Reform and Consumer Protection Act requires certain financial companies, including national banks and Federal savings associations, to conduct annual stress tests and requires the primary financial regulatory agency of those financial companies to issue regulations implementing the stress test requirements.
This collection of information currently encompasses information collection requirements contained in the OCCâs annual stress testing rule and its stress testing templates for covered institutions with $10-50 billion in total consolidated assets (FFIEC 016). Through this ICR, the templates for institutions with total consolidated assets of $10 billion to $50 billion, FFIEC 016, are being removed. Due to the change in threshold requiring stress testing under section 401 of the Economic Growth, Regulatory Relief, and Consumer Protection Act, stress testing is no longer required for institutions with $10-$50 billion in total consolidated assets. Therefore, we are removing the two ICs relating to the FFIEC 016.
Due to the change in threshold requiring stress testing under section 401 of the Economic Growth, Regulatory Relief, and Consumer Protection Act, stress testing is no longer required for institutions with $10-$50 billion in total consolidated assets. Therefore, we are removing the two ICs relating to the FFIEC 016.
The reduction in burden is due to the removal of the FFIEC 016.
$0
No
No
No
No
No
No
Uncollected
Kevin korzeniewski 202 874-4628
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.
Form FFIEC 016 FFIEC 016 Scenario Variables Template
Removal of FFIEC 016 Supporting Statement (3).docx
FFIEC 016 Scenario Variables Template