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 FDICâs 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 FDICâs, the OCCâs, and Boardâs 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 FDICâs 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 FDICâs 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)
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 DFAST 14A Scenario FDIC DFAST 14A Scenario
SPST-0189 DFAST for $250B EGRRCPA Revisions December 2018 NPR.doc
Publication