Notice2022-02268
Agency Information Collection Activities: Information Collection Renewal; Submission for OMB Review; 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
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
February 2, 2022
Issuing agencies
Treasury DepartmentComptroller of the Currency
Abstract
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 proposed revisions 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," and is now seeking comment on the final version of those revisions.
Full Text
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<title>Federal Register, Volume 87 Issue 22 (Wednesday, February 2, 2022)</title>
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[Federal Register Volume 87, Number 22 (Wednesday, February 2, 2022)]
[Notices]
[Pages 5942-5943]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-02268]
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DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
Agency Information Collection Activities: Information Collection
Renewal; Submission for OMB Review; 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 (OCC), Treasury.
ACTION: Notice and request for comment.
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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 proposed
revisions 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,'' and is now seeking
comment on the final version of those revisions.
DATES: Comments must be received by March 4, 2022.
ADDRESSES: Commenters are encouraged to submit comments by email, if
possible. You may submit comments by any of the following methods:
<bullet> Email: <a href="/cdn-cgi/l/email-protection#99e9ebf8f0f7fff6d9f6fafab7edebfcf8eab7fef6ef"><span class="__cf_email__" data-cfemail="6b1b190a02050d042b040808451f190e0a18450c041d">[email protected]</span></a>.
<bullet> Mail: Chief Counsel's Office, Attention: Comment
Processing, 1557-0319, Office of the Comptroller of the Currency, 400
7th Street SW, Suite 3E-218, Washington, DC 20219.
<bullet> Hand Delivery/Courier: 400 7th Street SW, Suite 3E-218,
Washington, DC 20219.
<bullet> 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 <a href="http://www.reginfo.gov">www.reginfo.gov</a> 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.
Written comments and recommendations for the proposed information
collection should also be sent within 30 days of publication of this
notice to <a href="http://www.reginfo.gov/public/do/PRAMain">www.reginfo.gov/public/do/PRAMain</a>. Find this particular
information collection by selecting ``Currently under 30-day Review--
Open for Public Comments'' or by using the search function.
On October 27, 2021, the OCC published a notice for 60 days of
comment concerning this collection, 86 FR 59447. You may review
comments and other related materials that pertain to this information
collection following the close of the 30-day comment period for this
notice by the method set forth in the next bullet.
<bullet> Viewing Comments Electronically: Go to <a href="http://www.reginfo.gov">www.reginfo.gov</a>.
Hover over the ``Information Collection Review'' tab and click on
``Information Collection Review'' drop-down menu. From the ``Currently
under Review'' 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.
<bullet> For assistance in navigating <a href="http://www.reginfo.gov">www.reginfo.gov</a>, 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 7th 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 (<a href="https://www.occ.treas.gov/tools-forms/forms/bank-operations/stress-test-reporting.html">https://www.occ.treas.gov/tools-forms/forms/bank-operations/stress-test-reporting.html</a>).
[[Page 5943]]
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 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\
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\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).
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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 given confidential
treatment (5 U.S.C. 552(b)(4)) to the extent permitted by law.
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\6\ 77 FR 61238 (October 9, 2012) (codified at 12 CFR part 46).
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In 2012, the OCC first implemented the reporting templates
referenced in the final rule. See 77 FR 49485 (August 16, 2012) and 77
FR 66663 (November 6, 2012). 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. The OCC proposed new
changes to these templates on October 27, 2021.\7\
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\7\ 86 FR 59447 (Oct. 27, 2021).
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The OCC recognizes that many covered institutions with total
consolidated assets of $250 billion or more are required to submit
reports using reporting form FR Y-14A.\8\ The OCC also recognizes the
Board has made modifications to the FR Y-14A and, to the extent
practical, the OCC is keeping its reporting requirements consistent
with the Board's FR Y-14A to minimize burden on covered institutions.
Therefore, the OCC is revising its reporting requirements to mirror the
Board's FR Y-14A for covered institutions with total consolidated
assets of $250 billion or more.
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\8\ <a href="http://www.federalreserve.gov/reportforms">http://www.federalreserve.gov/reportforms</a>.
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The OCC's changes include only limited updates to reflect the
changes made by the Board, and the OCC reporting forms will
substantially resemble the forms used by the OCC last year. Many 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 revisions. Similarly, in 2021 the
OCC's reporting forms did not collect certain items collected on the
2021 FR Y-14A (for example, line items related to the stress capital
buffer), and the OCC's 2022 forms also do not include these items. The
OCC's 2022 changes include the minimal adjustments necessary to align
line items with placement on the 2022 FR Y-14A.
The OCC did not receive any comments on the proposed revisions.
Type of Review: Revision.
Affected Public: Businesses or other for-profit.
Estimated Number of Respondents: 8.
Estimated Total Annual Burden: 4,744 hours.
The OCC believes that the systems that covered institutions use to
prepare the FR Y-14 reporting templates and submit to the Board will
also be used to prepare the reporting templates described in this
notice. On October 27, 2021, the OCC published a notice for 60 days of
comment concerning this collection, 86 FR 59447. No comments were
received. Comments continue to be 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 through 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. 2022-02268 Filed 2-1-22; 8:45 am]
BILLING CODE 4810-33-P
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