Notice2023-02873
Agency Information Collection Activities: Information Collection Revision; 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 10, 2023
Issuing agencies
Treasury DepartmentComptroller of the Currency
Abstract
The OCC, as part of its continuing effort to reduce paperwork and respondent burden, invites 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. The OCC also is giving notice that it has sent the collection to OMB for review.
Full Text
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<title>Federal Register, Volume 88 Issue 28 (Friday, February 10, 2023)</title>
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[Federal Register Volume 88, Number 28 (Friday, February 10, 2023)]
[Notices]
[Pages 8989-8991]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-02873]
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DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
Agency Information Collection Activities: Information Collection
Revision; 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, Treasury (OCC).
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 comment on a continuing information
collection as required by the Paperwork Reduction Act of 1995 (PRA). In
accordance with the requirements of the
[[Page 8990]]
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. The
OCC also is giving notice that it has sent the collection to OMB for
review.
DATES: Comments must be received by March 13, 2023.
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#225250434b4c444d624d41410c56504743510c454d54"><span class="__cf_email__" data-cfemail="ed9d9f8c84838b82ad828e8ec3999f888c9ec38a829b">[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>. You can find this
particular information collection at that website by selecting
``Currently under 30-day Review--Open for Public Comments'' or by using
the search function.
On December 5, 2022, the OCC published a notice for 60 days of
comment concerning this collection, 87 FR 74470. 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. If
you are deaf, hard of hearing, or have a speech disability, please dial
7-1-1 to access telecommunications relay services.
In addition, copies of the templates referenced in this notice can
be found on the OCC's website under News and Issuances (<a href="http://www.occ.treas.gov/tools-forms/forms/bank-operations/stress-test-reporting.html">http://www.occ.treas.gov/tools-forms/forms/bank-operations/stress-test-reporting.html</a>).
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\ 87 FR 52560 (August 26, 2022).
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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
[[Page 8991]]
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 changes. The OCC's changes include the minimal
adjustments necessary to align line items with placement on the 2022 FR
Y-14A. The OCC is also changing the description of covered institutions
required to complete the trading and counterparty credit risk (CCR)
sub-schedules under the Global Market Shock (GMS) scenario to more
closely align with the Board's description. The OCC does not expect
these changes to impact the group of banks that have been required to
submit under the GMS in prior years. The OCC's new reporting forms and
instructions are available on the OCC's website at <a href="https://www.occ.treas.gov/publications-and-resources/forms/dodd-frank-act-stress-test/index-dodd-frank-act-stress-test.html">https://www.occ.treas.gov/publications-and-resources/forms/dodd-frank-act-stress-test/index-dodd-frank-act-stress-test.html</a>.
Type of Review: Revision. Affected Public: Businesses or other for-
profit.
Estimated Number of Respondents: 4 annually and 4 biennially.
Estimated Total Annual Burden: 3,558 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 December 5, 2022, the OCC published a notice for 60 days of
comment concerning this collection as revised, 87 FR 74470. 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. 2023-02873 Filed 2-9-23; 8:45 am]
BILLING CODE P
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