Notice2024-25037
Agency Information Collection Activities: Revision of an Approved Information Collection; Comment Request; 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
October 29, 2024
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 is soliciting comment concerning a revision to its information collection 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"
Full Text
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<title>Federal Register, Volume 89 Issue 209 (Tuesday, October 29, 2024)</title>
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[Federal Register Volume 89, Number 209 (Tuesday, October 29, 2024)]
[Notices]
[Pages 86079-86081]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-25037]
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DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
Agency Information Collection Activities: Revision of an Approved
Information Collection; Comment Request; 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 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 is soliciting
comment concerning a revision to its information collection 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''
DATES: Comments must be received by December 30, 2024.
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#7f0f0d1e161119103f101c1c510b0d1a1e0c51181009"><span class="__cf_email__" data-cfemail="78080a1911161e1738171b1b560c0a1d190b561f170e">[email protected]</span></a>.
<bullet> Mail: Chief Counsel's Office, Attention: Comment
Processing, Office of the Comptroller of the Currency, Attention: 1557-
0319, 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) 293-4835.
Instructions: You must include ``OCC'' as the agency name and
``1557-
[[Page 86080]]
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.
Following the close of this notice's 60-day comment period, the OCC
will publish a second notice with a 30-day comment period. You may
review comments and other related materials that pertain to this
information collection beginning on the date of publication of the
second notice for this collection 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'' from the 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 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, Clearance Officer,
(202) 649-5490, Chief Counsel's Office, Office of the Comptroller of
the Currency, 400 7th Street 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.
SUPPLEMENTARY INFORMATION: Under the PRA (44 U.S.C. 3501 et seq.),
Federal agencies must obtain approval from the OMB for each collection
of information that they conduct or sponsor. ``Collection of
information'' is defined in 44 U.S.C. 3502(3) and 5 CFR 1320.3(c) to
include agency requests or requirements that members of the public
submit reports, keep records, or provide information to a third party.
Section 3506(c)(2)(A) of title 44 generally requires Federal agencies
to provide a 60-day notice in the Federal Register concerning each
proposed collection of information, including each proposed extension
of an existing collection of information, before submitting the
collection to OMB for approval. To comply with this requirement, the
OCC is publishing notice of the revision of this 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.
Type of Review: Revision.
Affected Public: Businesses or other for-profit.
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 treated as
confidential (to the extent permitted by law.\7\
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\6\ 77 FR 61238 (October 9, 2012) (codified at 12 CFR part 46).
\7\ 5 U.S.C. 552(b)(4).
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In 2012, the OCC first implemented the reporting templates
referenced in the final rule.\8\ 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.
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\8\ See 77 FR 49485 (August 16, 2012) and 77 FR 66663 (November
6, 2012).
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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.\9\ The OCC also recognizes the
Board has proposed modifications to the FR Y-14A and, to the extent
practical, the OCC will keep its reporting requirements consistent with
the Board's FR Y-14A in order to minimize burden on covered
institutions.\10\
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\9\ <a href="http://www.federalreserve.gov/reportforms">http://www.federalreserve.gov/reportforms</a>.
\10\ 89 FR 52042 (June 21, 2024).
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The OCC's proposed changes include only limited updates to reflect
the changes made by the Board, and the proposed OCC reporting forms
will substantially resemble the forms used by the OCC last year. The
OCC's proposed changes include removing the CECL Supplemental Schedule
from the reporting instructions. The CECL Supplemental Schedule was a
one-time schedule that reporting banks provided the during the first
submission cycle following their implementation of the ASU 2016-13
standards. This collection was implemented to identify the effect and
timing of the adoption of CECL and the associated transition
provisions, as provided by section 301 of the regulatory capital rules.
As all firms have now adopted ASU 2016-13, this supplemental collection
is not needed on a going-forward basis for modeling or analytical
purposes. The proposed changes also include a small number of revisions
that do not stem from revisions proposed by the Board. These include
minor corrections and eliminating references to LIBOR, which is no
longer a reference rate, in the instructions.
If the Board proposes additional changes to the FR Y-14A reporting
forms after the publication of this notice, the OCC expects to make
[[Page 86081]]
corresponding changes to the OCC reporting forms to minimize
inconsistencies and reduce burden. The OCC's proposed 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>.
Estimated Burden
Estimated Frequency of Response: On occasion.
Estimated Number of Respondents: 4 annually and 4 biennially.
Estimated Total Annual Burden: 3,558 hours.
Comments submitted in response to this notice will be summarized
and included in the request for OMB approval. All comments will become
a matter of public record. Comments are 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.
Patrick T. Tierney,
Assistant Director, Office of the Comptroller of the Currency.
[FR Doc. 2024-25037 Filed 10-28-24; 8:45 am]
BILLING CODE 4810-33-P
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