Section 165(i)(2) of the Dodd-Frank 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.
On May 24, 2018, the Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA) amended provisions in the Dodd-Frank Act and provided that, eighteen months after EGRRCPAâs enactment, financial companies with total consolidated assets of less than $250 billion that are not bank holding companies will no longer be subject to the company-run stress testing requirements in section 165(i)(2) of the Dodd-Frank Act. In contrast, on EGRRCPAâs date of enactment, bank holding companies under $100 billion in total consolidated assets were no longer subject to section 165(i)(2).
The OCC recognizes that many covered institutions with total consolidated assets of $100 billion or more are required to submit reports using Comprehensive Capital Analysis
and Review (CCAR) reporting form FR Yâ14A.8 The OCC also recognizes the Board has proposed to modify the FR Yâ 14A and, to the extent practical, the OCC will keep its reporting requirements consistent with the Boardâs FR Yâ14A in order to minimize burden on covered institutions. Therefore, the OCC is proposing to revise its reporting requirements to mirror the Boardâs proposed FR Yâ14A for covered institutions with total consolidated assets of $100 billion or more. The proposed changes include
changes to accommodate the revised asset threshold necessitated by EGRRCPA. The proposed changes also include the removal of the Retail Repurchase worksheet and various
clarifications in the instructions. In addition to the changes that parallel the Boardâs proposed changes to the FR Yâ 14A, the OCC is also proposing to remove or modify certain items on the OCC supplemental schedule, which collects additional information not included in the FR Yâ14A.
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.
Summary Schedule
Supporting statement 1.31.19.docx
2019-dfast-14a-instructions.pdf
Summary Schedule