81_FR_22594 81 FR 22520 - Orders: Reporting by Regulated Entities of Stress Testing Results as of December 31, 2015; Summary Instructions and Guidance

81 FR 22520 - Orders: Reporting by Regulated Entities of Stress Testing Results as of December 31, 2015; Summary Instructions and Guidance

FEDERAL HOUSING FINANCE AGENCY

Federal Register Volume 81, Issue 74 (April 18, 2016)

Page Range22520-22520
FR Document2016-08903

In this document, the Federal Housing Finance Agency (FHFA) provides notice that it issued Orders, dated March 2, 2016, with respect to stress test reporting as of December 31, 2015, under section 165(i)(2) of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). Summary Instructions and Guidance accompanied the Orders to provide testing scenarios.

Federal Register, Volume 81 Issue 74 (Monday, April 18, 2016)
[Federal Register Volume 81, Number 74 (Monday, April 18, 2016)]
[Rules and Regulations]
[Page 22520]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-08903]


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FEDERAL HOUSING FINANCE AGENCY

12 CFR Part 1238

[No. 2016-N-05]


Orders: Reporting by Regulated Entities of Stress Testing Results 
as of December 31, 2015; Summary Instructions and Guidance

AGENCY: Federal Housing Finance Agency.

ACTION: Orders.

-----------------------------------------------------------------------

SUMMARY: In this document, the Federal Housing Finance Agency (FHFA) 
provides notice that it issued Orders, dated March 2, 2016, with 
respect to stress test reporting as of December 31, 2015, under section 
165(i)(2) of the Dodd-Frank Wall Street Reform and Consumer Protection 
Act (Dodd-Frank Act). Summary Instructions and Guidance accompanied the 
Orders to provide testing scenarios.

DATES: Effective April 18, 2016. Each Order is applicable March 2, 
2016.

FOR FURTHER INFORMATION CONTACT: Naa Awaa Tagoe, Senior Associate 
Director, Office of Financial Analysis, Modeling and Simulations, (202) 
649-3140, naaawaa.tagoe@fhfa.gov; Stefan Szilagyi, Examination Manager, 
FHLBank Modeling, FHLBank Risk Modeling Branch (202) 649-3515, 
stefan.szilagyi@fhfa.gov; Karen Heidel, Senior Counsel, Office of 
General Counsel, (202) 649-3073, karen.heidel@fhfa.gov; or Mark D. 
Laponsky, Deputy General Counsel, Office of General Counsel, (202) 649-
3054, mark.laponsky@fhfa.gov. The telephone number for the 
Telecommunications Device for the Hearing Impaired is (800) 877-8339.

SUPPLEMENTARY INFORMATION: 

I. Background

    FHFA is responsible for ensuring that the regulated entities 
operate in a safe and sound manner, including the maintenance of 
adequate capital and internal controls, that their operations and 
activities foster liquid, efficient, competitive, and resilient 
national housing finance markets, and that they carry out their public 
policy missions through authorized activities. See 12 U.S.C. 4513. 
These Orders are being issued under 12 U.S.C. 4516(a), which authorizes 
the Director of FHFA to require by Order that the regulated entities 
submit regular or special reports to FHFA and establishes remedies and 
procedures for failing to make reports required by Order. The Orders, 
through the accompanying Summary Instructions and Guidance, prescribe 
for the regulated entities the scenarios to be used for stress testing. 
The Summary Instructions and Guidance also provides to the regulated 
entities advice concerning the content and format of reports required 
by the Orders and the rule.

II. Orders, Summary Instructions and Guidance

    For the convenience of the affected parties and the public, the 
text of the Orders follows below in its entirety. You may access these 
Orders and the Summary Instructions and Guidance from FHFA's Web site 
at http://www.fhfa.gov/SupervisionRegulation/DoddFrankActStressTests. 
The Orders and Summary Instructions and Guidance also will be available 
for public inspection and copying at the Federal Housing Finance 
Agency, Eighth Floor, 400 Seventh St. SW., Washington, DC 20219. To 
make an appointment call (202) 649-3804.
    The text of the Orders is as follows:

Federal Housing Finance Agency

Order Nos. 2016-OR-B-1, 2016-OR-FNMA-1, and 2016-OR-FHLMC-1

REPORTING BY REGULATED ENTITIES OF STRESS TESTING RESULTS AS OF 
DECEMBER 31, 2015

    Whereas, section 165(i)(2) of the Dodd-Frank Wall Street Reform and 
Consumer Protection Act (``Dodd-Frank Act'') requires certain financial 
companies with total consolidated assets of more than $10 billion, and 
which are regulated by a primary Federal financial regulatory agency, 
to conduct annual stress tests to determine whether the companies have 
the capital necessary to absorb losses as a result of adverse economic 
conditions;
    Whereas, FHFA's rule implementing section 165(i)(2) of the Dodd-
Frank Act is codified as 12 CFR 1238 and requires that ``[e]ach 
regulated entity must file a report in the manner and form established 
by FHFA.'' 12 CFR 1238.5(b);
    Whereas, The Board of Governors of the Federal Reserve System 
issued stress testing scenarios on January 28, 2016 and supplemented on 
February 4, 2016; and
    Whereas, section 1314 of the Safety and Soundness Act, 12 U.S.C. 
4514(a) authorizes the Director of FHFA to require regulated entities, 
by general or specific order, to submit such reports on their 
management, activities, and operation as the Director considers 
appropriate.
    Now Therefore, it is hereby Ordered as follows:
    Each regulated entity shall report to FHFA and to the Board of 
Governors of the Federal Reserve System the results of the stress 
testing as required by 12 CFR 1238, in the form and with the content 
described therein and in the Summary Instructions and Guidance, with 
Appendices 1 through 12 thereto, accompanying this Order and dated 
March 2, 2016.
    It Is So Ordered, this the 2nd day of March, 2016.
    This Order is effective immediately.
    Signed at Washington, DC, this 2nd day of March, 2016.

Melvin L. Watt,
Director, Federal Housing Finance Agency.

    Dated: April 12, 2016.
Melvin L. Watt,
Director, Federal Housing Finance Agency.
[FR Doc. 2016-08903 Filed 4-15-16; 8:45 am]
 BILLING CODE 8070-01-P



                                                22520               Federal Register / Vol. 81, No. 74 / Monday, April 18, 2016 / Rules and Regulations

                                                ‘‘dehumidifier,’’ that delivers cooled,                 carry out their public policy missions                and supplemented on February 4, 2016;
                                                conditioned air to an enclosed space,                   through authorized activities. See 12                 and
                                                and is powered by single-phase electric                 U.S.C. 4513. These Orders are being                     Whereas, section 1314 of the Safety
                                                current. It includes a source of                        issued under 12 U.S.C. 4516(a), which                 and Soundness Act, 12 U.S.C. 4514(a)
                                                refrigeration and may include additional                authorizes the Director of FHFA to                    authorizes the Director of FHFA to
                                                means for air circulation and heating.                  require by Order that the regulated                   require regulated entities, by general or
                                                *     *      *    *     *                               entities submit regular or special reports            specific order, to submit such reports on
                                                [FR Doc. 2016–08891 Filed 4–15–16; 8:45 am]             to FHFA and establishes remedies and                  their management, activities, and
                                                BILLING CODE 6450–01–P                                  procedures for failing to make reports                operation as the Director considers
                                                                                                        required by Order. The Orders, through                appropriate.
                                                                                                        the accompanying Summary                                Now Therefore, it is hereby Ordered
                                                FEDERAL HOUSING FINANCE                                 Instructions and Guidance, prescribe for              as follows:
                                                AGENCY                                                  the regulated entities the scenarios to be              Each regulated entity shall report to
                                                                                                        used for stress testing. The Summary                  FHFA and to the Board of Governors of
                                                12 CFR Part 1238                                        Instructions and Guidance also provides               the Federal Reserve System the results
                                                                                                        to the regulated entities advice                      of the stress testing as required by 12
                                                [No. 2016–N–05]                                                                                               CFR 1238, in the form and with the
                                                                                                        concerning the content and format of
                                                                                                        reports required by the Orders and the                content described therein and in the
                                                Orders: Reporting by Regulated
                                                                                                        rule.                                                 Summary Instructions and Guidance,
                                                Entities of Stress Testing Results as of
                                                                                                                                                              with Appendices 1 through 12 thereto,
                                                December 31, 2015; Summary                              II. Orders, Summary Instructions and                  accompanying this Order and dated
                                                Instructions and Guidance                               Guidance                                              March 2, 2016.
                                                AGENCY: Federal Housing Finance                            For the convenience of the affected                  It Is So Ordered, this the 2nd day of
                                                Agency.                                                 parties and the public, the text of the               March, 2016.
                                                ACTION: Orders.                                         Orders follows below in its entirety.                   This Order is effective immediately.
                                                                                                        You may access these Orders and the                     Signed at Washington, DC, this 2nd
                                                SUMMARY:    In this document, the Federal               Summary Instructions and Guidance                     day of March, 2016.
                                                Housing Finance Agency (FHFA)                           from FHFA’s Web site at http://www.                   Melvin L. Watt,
                                                provides notice that it issued Orders,                  fhfa.gov/SupervisionRegulation/Dodd                   Director, Federal Housing Finance
                                                dated March 2, 2016, with respect to                    FrankActStressTests. The Orders and                   Agency.
                                                stress test reporting as of December 31,                Summary Instructions and Guidance                       Dated: April 12, 2016.
                                                2015, under section 165(i)(2) of the                    also will be available for public                     Melvin L. Watt,
                                                Dodd-Frank Wall Street Reform and                       inspection and copying at the Federal
                                                Consumer Protection Act (Dodd-Frank                                                                           Director, Federal Housing Finance Agency.
                                                                                                        Housing Finance Agency, Eighth Floor,
                                                Act). Summary Instructions and                                                                                [FR Doc. 2016–08903 Filed 4–15–16; 8:45 am]
                                                                                                        400 Seventh St. SW., Washington, DC
                                                Guidance accompanied the Orders to                      20219. To make an appointment call                    BILLING CODE 8070–01–P
                                                provide testing scenarios.                              (202) 649–3804.
                                                DATES: Effective April 18, 2016. Each                      The text of the Orders is as follows:
                                                Order is applicable March 2, 2016.                                                                            DEPARTMENT OF HEALTH AND
                                                                                                        Federal Housing Finance Agency                        HUMAN SERVICES
                                                FOR FURTHER INFORMATION CONTACT: Naa
                                                Awaa Tagoe, Senior Associate Director,                  Order Nos. 2016–OR–B–1, 2016–OR–
                                                                                                                                                              Food and Drug Administration
                                                Office of Financial Analysis, Modeling                  FNMA–1, and 2016–OR–FHLMC–1
                                                and Simulations, (202) 649–3140,                        REPORTING BY REGULATED                                21 CFR Parts 520, 522, 524, 529, 556,
                                                naaawaa.tagoe@fhfa.gov; Stefan                          ENTITIES OF STRESS TESTING                            and 558
                                                Szilagyi, Examination Manager,                          RESULTS AS OF DECEMBER 31, 2015
                                                FHLBank Modeling, FHLBank Risk                                                                                [Docket No. FDA–2016–N–0002]
                                                Modeling Branch (202) 649–3515,                            Whereas, section 165(i)(2) of the
                                                stefan.szilagyi@fhfa.gov; Karen Heidel,                 Dodd-Frank Wall Street Reform and                     New Animal Drugs; Approval of New
                                                Senior Counsel, Office of General                       Consumer Protection Act (‘‘Dodd-Frank                 Animal Drug Applications; Changes of
                                                Counsel, (202) 649–3073, karen.heidel@                  Act’’) requires certain financial                     Sponsorship
                                                fhfa.gov; or Mark D. Laponsky, Deputy                   companies with total consolidated                     AGENCY:    Food and Drug Administration,
                                                General Counsel, Office of General                      assets of more than $10 billion, and                  HHS.
                                                Counsel, (202) 649–3054,                                which are regulated by a primary
                                                                                                                                                                    Final rule; technical
                                                                                                                                                              ACTION:
                                                mark.laponsky@fhfa.gov. The telephone                   Federal financial regulatory agency, to
                                                                                                                                                              amendment.
                                                number for the Telecommunications                       conduct annual stress tests to determine
                                                Device for the Hearing Impaired is (800)                whether the companies have the capital                SUMMARY:  The Food and Drug
                                                877–8339.                                               necessary to absorb losses as a result of             Administration (FDA, we) is amending
                                                SUPPLEMENTARY INFORMATION:                              adverse economic conditions;                          the animal drug regulations to reflect
                                                                                                           Whereas, FHFA’s rule implementing                  application-related actions for new
                                                I. Background                                           section 165(i)(2) of the Dodd-Frank Act               animal drug applications (NADAs) and
                                                  FHFA is responsible for ensuring that                 is codified as 12 CFR 1238 and requires               abbreviated new animal drug
mstockstill on DSK4VPTVN1PROD with RULES




                                                the regulated entities operate in a safe                that ‘‘[e]ach regulated entity must file a            applications (ANADAs) during January
                                                and sound manner, including the                         report in the manner and form                         and February 2016. FDA is also
                                                maintenance of adequate capital and                     established by FHFA.’’ 12 CFR                         informing the public of the availability
                                                internal controls, that their operations                1238.5(b);                                            of summaries of the basis of approval
                                                and activities foster liquid, efficient,                   Whereas, The Board of Governors of                 and of environmental review
                                                competitive, and resilient national                     the Federal Reserve System issued stress              documents, where applicable. The
                                                housing finance markets, and that they                  testing scenarios on January 28, 2016                 animal drug regulations are also being


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Document Created: 2016-04-16 01:45:37
Document Modified: 2016-04-16 01:45:37
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionRules and Regulations
ActionOrders.
DatesEffective April 18, 2016. Each Order is applicable March 2, 2016.
ContactNaa Awaa Tagoe, Senior Associate Director, Office of Financial Analysis, Modeling and Simulations, (202) 649-3140, [email protected]; Stefan Szilagyi, Examination Manager, FHLBank Modeling, FHLBank Risk Modeling Branch (202) 649-3515, [email protected]; Karen Heidel, Senior Counsel, Office of General Counsel, (202) 649-3073, [email protected]; or Mark D. Laponsky, Deputy General Counsel, Office of General Counsel, (202) 649- 3054, [email protected] The telephone number for the Telecommunications Device for the Hearing Impaired is (800) 877-8339.
FR Citation81 FR 22520 

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