83 FR 4957 - Agency Information Collection Activities: Revision of an Approved Information Collection; Submission for OMB Review; Company-Run Annual Stress Test Reporting Template and Documentation for Covered Institutions With Total Consolidated Assets of $50 Billion or More Under the Dodd-Frank Wall Street Reform and Consumer Protection Act
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency Federal Register Volume 83, Issue 23 (February 2, 2018)
Office of the Comptroller of the Currency
Federal Register Volume 83, Issue 23 (February 2, 2018)
| Page Range | 4957-4959 | |
| FR Document | 2018-02060 |
[Federal Register Volume 83, Number 23 (Friday, February 2, 2018)] [Notices] [Pages 4957-4959] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2018-02060] ----------------------------------------------------------------------- DEPARTMENT OF THE TREASURY Office of the Comptroller of the Currency Agency Information Collection Activities: Revision of an Approved Information Collection; Submission for OMB Review; Company-Run Annual Stress Test Reporting Template and Documentation for Covered Institutions With Total Consolidated Assets of $50 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. ----------------------------------------------------------------------- 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. Currently, the OCC is finalizing a revision 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 $50 Billion or More under the Dodd-Frank Wall Street Reform and Consumer Protection Act.'' The OCC also is giving notice that it has sent the collection to OMB for review. DATES: Comments must be received by March 5, 2018. ADDRESSES: Because paper mail in the Washington, DC area and at the OCC is subject to delay, commenters are encouraged to submit comments by email, if possible. Comments may be sent to: Legislative and Regulatory Activities Division, Office of the Comptroller of the Currency, Attention: 1557-0319, 400 7th Street SW, Suite 3E-218, Washington, DC 20219. In addition, comments may be sent by fax to (571) 465-4326 or by electronic mail to prainfo@occ.treas.gov. You may personally inspect and photocopy comments at the OCC, 400 7th Street, SW, Washington, DC 20219. For security reasons, the OCC requires that visitors make an appointment to inspect comments. You may do so by calling (202) 649- 6700 or, for persons who are deaf or hearing impaired, TTY, (202) 649- 5597. Upon arrival, visitors will be required to present valid government-issued photo identification and submit to security screening in order to inspect and photocopy comments. All 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. Additionally, please send a copy of your comments by mail to: OCC Desk Officer, 1557-0319, U.S. Office of Management and Budget, 725 17th Street NW, #10235, Washington, DC 20503, or by email to: oira_submission@omb.eop.gov. [[Page 4958]] FOR FURTHER INFORMATION CONTACT: Shaquita Merritt, OCC Clearance Officer, (202) 649-5490 or, for persons who are deaf or hearing impaired, TTY, (202) 649-5597, Legislative and Regulatory Activities Division, Office of the Comptroller of the Currency, 400 7th Street 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 (http://www.occ.treas.gov/tools-forms/forms/bank-operations/stress-test-reporting.html). 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 $50 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\ A national bank or federal savings association is a ``covered institution'' and therefore subject to the stress test requirements if its total consolidated assets are more than $10 billion. 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\ 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). Information collected will be kept private to the extent permitted by law. --------------------------------------------------------------------------- \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). \6\ 77 FR 61238 (October 9, 2012) (codified at 12 CFR part 46). --------------------------------------------------------------------------- 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 is now revising them as described below. The OCC intends to use 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 recognizes that many covered institutions with total consolidated assets of $50 billion or more are required to submit reports using Comprehensive Capital Analysis and Review (CCAR) reporting form FR Y-14A.\7\ The OCC also recognizes the Board has modified the FR Y-14A and, to the extent practical, the OCC has kept its reporting requirements consistent with the Board's FR Y-14A in order to minimize burden on covered institutions.\8\ The OCC is revising its reporting requirements to mirror the Board's FR Y-14A for covered institutions with total consolidated assets of $50 billion or more. In addition to the changes that parallel the Board's changes to the FR Y-14A, the OCC is also making two other changes. First, the OCC is modifying the OCC Supplemental Schedule. Second, the OCC is allowing federal savings associations to comply with the reporting requirements applicable to subsidiaries of large, noncomplex holding companies, as defined by the Board. These changes are described in more detail below. --------------------------------------------------------------------------- \7\ http://www.federalreserve.gov/reportforms. \8\ 82 FR 59608 (December 15, 2017). --------------------------------------------------------------------------- Revisions to Reporting Templates That Mirror Changes by the Board The revisions to the DFAST-14A reporting templates consist of the following:Eliminating two schedules, the Regulatory Capital Transitions Schedule and Retail Repurchase Exposures Schedule; Adding one item to the counterparty worksheet of the summary schedule to collect information of Funding Valuation Adjustments (FVAs) for firms subject to the Global Market Shock; Modifying instructions to clarify reporting of ``Credit Loss Portion'' and ``Non-Credit Loss Portion'' information for AFS/HTM worksheets in the summary schedule. OCC Supplemental Schedule In 2017 the OCC introduced a Supplemental Schedule that collects additional information not included in the FR Y-14A. The revisions include modifications to the OCC Supplemental Schedule. These modifications to the Supplemental Schedule consist of clarifying instructions as well as adding, deleting, and modifying existing data items. The total number of items in the Supplemental Schedule will be reduced by approximately half, reflecting the OCC's commitment to reducing the reporting burden associated with this schedule. In particular, the revisions delete existing data items on Allowance for Loan and Lease Loss data and Provisions data. The OCC periodically reviews its data collection to identify fields whose collection are no longer necessary to support the OCC's supervisory objectives, and the allowance and provision fields were identified for elimination as part of this review. The revisions also eliminate the materiality thresholds for the reporting of certain items. Only national banks that are subsidiaries of large, complex firms, as defined by the Board, are required to complete the Supplemental Schedule, and the OCC believes that it is appropriate and manageable for these larger national banks to report these items. Federal Savings Associations Beginning in 2017, the Board and the OCC allowed institutions that were subsidiaries of large, non-complex holding companies, as defined by the Board, to comply with simplified reporting requirements and not complete certain subschedules of the FR Y-14A and DFAST-14A reporting forms. The revisions allow federal savings associations that qualify as over $50 billion covered institutions to comply with these simplified reporting requirements. Savings and loan holding companies are not currently required to submit the Board's FR Y-14A reporting forms. Similarly, the Board's capital plan rule includes a definition for ``large and noncomplex bank holding compan[ies]'' but does not include a parallel definition for savings and loan holding companies. Accordingly, savings and loan holding companies and federal [[Page 4959]] savings associations that have the same characteristics as other large and noncomplex firms would not technically qualify for the simplified reporting requirements. The revisions modify the DFAST-14A reporting forms and instructions to provide that all federal savings associations may comply with these simplified reporting requirements. This change promotes parity between national banks and federal savings associations that have similar size profiles and economic characteristics. Response to Comments The OCC received one comment from a trade association. The commenter suggested that the effective date for changes to the OCC reporting templates align with changes to the Board's reporting forms. The commenter also suggested that there should be a minimum of six months between the publication of final changes to the reporting templates and the effective date of the changes. According to the commenter, it is important to factor in the amount of time necessary to resolve clarifying questions. The OCC recognizes the challenges with implementing changes in a timely and controlled manner. The OCC continues to balance the need to collect additional information with the objective of providing as much time as is feasible in advance of implementation. With respect to the changes in this notice, the OCC has sought to align effective dates for reporting requirements to the extent practical with synonymous changes to the Board's Y-14A. For example, the OCC is eliminating the Regulatory Capital Transitions Schedule and the Retail Repurchase Schedule to parallel the Board's changes to the Y-14A. The addition of one item to the counterparty worksheet to collect information on FVAs is consistent with changes made by the Board. The OCC believes that many of the reporting template changes are either burden-neutral or burden-reducing. In addition to eliminating the two schedules referenced above, the OCC is also reducing the number of data items in the Supplemental Schedule by approximately half. The OCC continually seeks to clarify and improve the DFAST-14A reporting instructions; nevertheless, as is the case with all reporting templates, there will always be clarifying questions from the industry, and the OCC seeks to respond to questions in a timely manner. The commenter also suggested that the technical instructions accompanying any changes in the reporting templates be subject to public notice and comment. The OCC will continue to publish technical instructions as early as feasible. The technical changes do not alter the burden associated with the reporting forms and do not impose additional requirements. The technical instructions provide procedures for the submission of DFAST-14A data, covering matters such as file format and other technical specifications. While the OCC publishes the technical instructions as early as possible, the OCC and the Board have historically not published the technical instructions for notice and comment. The commenter also questioned the need for the OCC Supplemental Schedule. The commenter suggested that the Supplemental Schedule did not serve a supervisory purpose. The commenter also opposed the elimination of the materiality thresholds for certain items, which the commenter believed would increase the reporting burden. The OCC considers those items included in the OCC Supplemental Schedule as material risks that are necessary for monitoring and assessing a covered institution's capital adequacy and capital planning process. By requiring only subsidiaries of large, complex firms, as defined by the Board, to complete this schedule, these requirements now align with reporting exceptions for a number of summary and operational risk subschedules. To minimize reporting burden the OCC has reduced the number of Supplemental Schedule reporting items in half as part of its process to continually ensure that only key risk elements are included within this schedule. As these items represent key risks, relatively smaller amounts of exposures within individual firms could represent material aggregate risks to the banking system. Therefore, the OCC has substituted materiality thresholds for reporting exemptions based on the size and complexity of the parent holding company, thereby aligning the reporting exceptions with a number of summary and operational risk subschedules. Regarding data collection challenges posed by the Supplemental Schedule for covered institutions, as noted in the instructions, covered institutions that cannot use existing models and methodologies to furnish requested information on the OCC Supplemental Schedule may use allocations, expert judgment, or other methods for projections of balances, losses, and allowances if data is not available at the requested level of granularity. Covered institutions should supply appropriate documentation explaining their approach. Other Changes The OCC proposed to eliminate references to the term ``extraordinary items'' to align with Federal Accounting Standards Board (FASB) Subtopic 255-30. The Board has decided to delay this change with respect to its FR Y-14A; therefore, in order to promote consistency between the OCC DFAST-14A and the FR Y-14A, the OCC will delay this change until further notice. Type of Review: Revision. Affected Public: Businesses or other for-profit. Estimated Number of Respondents: 26. Estimated Total Annual Burden: 13,949 hours. The OCC believes that the systems covered institutions use to prepare the FR Y-14 reporting templates to submit to the Board will also be used to prepare the reporting templates described in this notice. 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 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. Dated: January 29, 2018. Karen Solomon, Acting Senior Deputy Comptroller and Chief Counsel. [FR Doc. 2018-02060 Filed 2-1-18; 8:45 am] BILLING CODE 4810-33-P
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written agreement entered into with the 12 CFR 28.22(e) Reports of Examination and respondent burden, invites the
OCC. Each federal branch or agency The federal branch or agency shall general public and other federal
shall maintain a capital equivalency send the OCC certification that all of its agencies to take this opportunity to
account and keep records of the amount Reports of Examination have been comment on a continuing information
of liabilities requiring capital destroyed or return its Reports of collection, as required by the Paperwork
equivalency coverage in a manner and Examination to the OCC. Reduction Act of 1995 (PRA).
form prescribed by the OCC. A foreign Type of Review: Regular. In accordance with the requirements
bank’s capital equivalency deposits may Affected Public: Businesses or other of the PRA, the OCC may not conduct
not be reduced in value below the for-profit. or sponsor, and the respondent is not
minimum required for that branch or Estimated Number of Respondents: required to respond to, an information
agency without the prior approval of the 52. collection unless it displays a currently
OCC, but in no event may the value fall Estimated Total Annual Burden: valid Office of Management and Budget
below the statutory minimum. 2,286. (OMB) control number.
Frequency of Response: On occasion. Currently, the OCC is finalizing a
12 CFR 28.16(c) Deposit-Taking by an Comments submitted in response to revision to a regulatory reporting
Uninsured Federal Branch— this notice will be summarized, requirement for national banks and
Application for an Exemption included in the request for OMB federal savings associations titled,
A foreign bank may apply to the OCC approval, and become a matter of public ‘‘Company-Run Annual Stress Test
for an exemption to permit an record. Comments are invited on: (a) Reporting Template and Documentation
uninsured federal branch to accept or Whether the collection of information is for Covered Institutions with Total
maintain deposit accounts that are not necessary for the proper performance of Consolidated Assets of $50 Billion or
listed in § 28.16(b). The request should the functions of the OCC, including More under the Dodd-Frank Wall Street
describe the types, sources, and whether the information has practical Reform and Consumer Protection Act.’’
estimated amount of such deposits and utility; The OCC also is giving notice that it has
explain why the OCC should grant an (b) The accuracy of the OCC’s sent the collection to OMB for review.
exemption, and how the exemption estimate of the burden of the collection
DATES: Comments must be received by
maintains and furthers the policies of information;
(c) Ways to enhance the quality, March 5, 2018.
described in § 28.16(a).
utility, and clarity of the information to ADDRESSES: Because paper mail in the
12 CFR 28.16(d) Deposit-Taking by an be collected; Washington, DC area and at the OCC is
Uninsured Federal Branch— (d) Ways to minimize the burden of subject to delay, commenters are
Aggregation of Deposits the collection on respondents, including encouraged to submit comments by
A foreign bank that has more than one through the use of automated collection email, if possible. Comments may be
federal branch in the same state may techniques or other forms of information sent to: Legislative and Regulatory
aggregate deposits in all of its federal technology; and Activities Division, Office of the
branches in that state, but exclude (e) Estimates of capital or start-up Comptroller of the Currency, Attention:
deposits of other branches, agencies, or costs and costs of operation, 1557–0319, 400 7th Street SW, Suite
wholly owned subsidiaries of the bank. maintenance, and purchase of services 3E–218, Washington, DC 20219. In
The federal branch shall compute the to provide information. addition, comments may be sent by fax
average amount by using the sum of Dated: January 29, 2018. to (571) 465–4326 or by electronic mail
deposits as of the close of business of Karen Solomon, to prainfo@occ.treas.gov. You may
the last 30 calendar days ending with, Acting Senior Deputy Comptroller and Chief
personally inspect and photocopy
and including, the last day of the Counsel, Office of the Comptroller of the comments at the OCC, 400 7th Street,
calendar quarter, divided by 30. The Currency. SW, Washington, DC 20219. For
federal branch shall maintain records of [FR Doc. 2018–02056 Filed 2–1–18; 8:45 am] security reasons, the OCC requires that
the calculation until its next BILLING CODE 4810–33–P
visitors make an appointment to inspect
examination by the OCC. comments. You may do so by calling
(202) 649–6700 or, for persons who are
12 CFR 28.18(c)(1) Recordkeeping and DEPARTMENT OF THE TREASURY deaf or hearing impaired, TTY, (202)
Reporting—Maintenance of Accounts, 649–5597. Upon arrival, visitors will be
Books, and Records Office of the Comptroller of the required to present valid government-
Each federal branch or agency shall Currency issued photo identification and submit
maintain a set of accounts and records to security screening in order to inspect
reflecting its transactions that are Agency Information Collection and photocopy comments.
separate from those of the foreign bank Activities: Revision of an Approved All comments received, including
and any other branch or agency. The Information Collection; Submission for attachments and other supporting
federal branch or agency shall keep a set OMB Review; Company-Run Annual materials, are part of the public record
of accounts and records in English Stress Test Reporting Template and and subject to public disclosure. Do not
sufficient to permit the OCC to examine Documentation for Covered include any information in your
the condition of the federal branch or Institutions With Total Consolidated comment or supporting materials that
Assets of $50 Billion or More Under the you consider confidential or
agency and its compliance with
Dodd-Frank Wall Street Reform and inappropriate for public disclosure.
sradovich on DSK3GMQ082PROD with NOTICES
applicable laws and regulations.
Consumer Protection Act Additionally, please send a copy of
12 CFR 28.20(a)(1) Maintenance of your comments by mail to: OCC Desk
Assets—General Rule AGENCY: Office of the Comptroller of the
Currency, Treasury (OCC). Officer, 1557–0319, U.S. Office of
The OCC may require a foreign bank ACTION: Notice and request for comment.
Management and Budget, 725 17th
to hold certain assets in the state in Street NW, #10235, Washington, DC
which its federal branch or agency is SUMMARY: The OCC, as part of its 20503, or by email to: oira_submission@
located. continuing effort to reduce paperwork omb.eop.gov.
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FOR FURTHER INFORMATION CONTACT: In 2012, the OCC first implemented Funding Valuation Adjustments (FVAs)
Shaquita Merritt, OCC Clearance the reporting templates referenced in for firms subject to the Global Market
Officer, (202) 649–5490 or, for persons the final rule. See 77 FR 49485 (August Shock;
who are deaf or hearing impaired, TTY, 16, 2012) and 77 FR 66663 (November • Modifying instructions to clarify
(202) 649–5597, Legislative and 6, 2012). The OCC is now revising them reporting of ‘‘Credit Loss Portion’’ and
Regulatory Activities Division, Office of as described below. ‘‘Non-Credit Loss Portion’’ information
the Comptroller of the Currency, 400 7th The OCC intends to use the data for AFS/HTM worksheets in the
Street SW, Washington, DC 20219. In collected to assess the reasonableness of summary schedule.
addition, copies of the templates the stress test results of covered
OCC Supplemental Schedule
referenced in this notice can be found institutions and to provide forward-
on the OCC’s website under News and looking information to the OCC In 2017 the OCC introduced a
Issuances (http://www.occ.treas.gov/ regarding a covered institution’s capital Supplemental Schedule that collects
tools-forms/forms/bank-operations/ adequacy. The OCC also may use the additional information not included in
stress-test-reporting.html). results of the stress tests to determine the FR Y–14A. The revisions include
whether additional analytical modifications to the OCC Supplemental
SUPPLEMENTARY INFORMATION: The OCC techniques and exercises could be Schedule. These modifications to the
is requesting comment on the following appropriate to identify, measure, and Supplemental Schedule consist of
revision to an approved information monitor risks at the covered institution. clarifying instructions as well as adding,
collection: The stress test results are expected to deleting, and modifying existing data
Title: Company-Run Annual Stress support ongoing improvement in a items. The total number of items in the
Test Reporting Template and covered institution’s stress testing Supplemental Schedule will be reduced
Documentation for Covered Institutions practices with respect to its internal by approximately half, reflecting the
with Total Consolidated Assets of $50 assessments of capital adequacy and OCC’s commitment to reducing the
Billion or More under the Dodd-Frank overall capital planning. reporting burden associated with this
Wall Street Reform and Consumer The OCC recognizes that many schedule. In particular, the revisions
Protection Act. covered institutions with total delete existing data items on Allowance
OMB Control No.: 1557–0319. consolidated assets of $50 billion or for Loan and Lease Loss data and
Description: Section 165(i)(2) of the more are required to submit reports Provisions data. The OCC periodically
Dodd-Frank Wall Street Reform and using Comprehensive Capital Analysis reviews its data collection to identify
Consumer Protection Act 1 (Dodd-Frank and Review (CCAR) reporting form FR fields whose collection are no longer
Act) requires certain financial Y–14A.7 The OCC also recognizes the necessary to support the OCC’s
companies, including national banks Board has modified the FR Y–14A and, supervisory objectives, and the
and federal savings associations, to to the extent practical, the OCC has kept allowance and provision fields were
conduct annual stress tests 2 and its reporting requirements consistent identified for elimination as part of this
requires the primary financial regulatory with the Board’s FR Y–14A in order to review. The revisions also eliminate the
agency 3 of those financial companies to minimize burden on covered materiality thresholds for the reporting
issue regulations implementing the institutions.8 The OCC is revising its of certain items. Only national banks
stress test requirements.4 A national reporting requirements to mirror the that are subsidiaries of large, complex
bank or federal savings association is a Board’s FR Y–14A for covered firms, as defined by the Board, are
‘‘covered institution’’ and therefore institutions with total consolidated required to complete the Supplemental
subject to the stress test requirements if assets of $50 billion or more. In addition Schedule, and the OCC believes that it
its total consolidated assets are more to the changes that parallel the Board’s is appropriate and manageable for these
than $10 billion. Under section changes to the FR Y–14A, the OCC is larger national banks to report these
165(i)(2), a covered institution is also making two other changes. First, items.
required to submit to the Board of the OCC is modifying the OCC Federal Savings Associations
Governors of the Federal Reserve Supplemental Schedule. Second, the
OCC is allowing federal savings Beginning in 2017, the Board and the
System (Board) and to its primary
associations to comply with the OCC allowed institutions that were
financial regulatory agency a report at
reporting requirements applicable to subsidiaries of large, non-complex
such time, in such form, and containing
subsidiaries of large, noncomplex holding companies, as defined by the
such information as the primary
holding companies, as defined by the Board, to comply with simplified
financial regulatory agency may
Board. These changes are described in reporting requirements and not
require.5 On October 9, 2012, the OCC
more detail below. complete certain subschedules of the FR
published in the Federal Register a final
Y–14A and DFAST–14A reporting
rule implementing the section 165(i)(2) Revisions to Reporting Templates That forms. The revisions allow federal
annual stress test requirement.6 This Mirror Changes by the Board savings associations that qualify as over
rule describes the reports and
The revisions to the DFAST–14A $50 billion covered institutions to
information collections required to meet
reporting templates consist of the comply with these simplified reporting
the reporting requirements under
following: requirements.
section 165(i)(2). Information collected
will be kept private to the extent • Eliminating two schedules, the Savings and loan holding companies
Regulatory Capital Transitions Schedule are not currently required to submit the
permitted by law. Board’s FR Y–14A reporting forms.
sradovich on DSK3GMQ082PROD with NOTICES
and Retail Repurchase Exposures
Schedule; Similarly, the Board’s capital plan rule
1 Public Law 111–203, 124 Stat. 1376, July 2010.
2 12 U.S.C. 5365(i)(2)(A).
• Adding one item to the includes a definition for ‘‘large and
3 12 U.S.C. 5301(12). counterparty worksheet of the summary noncomplex bank holding compan[ies]’’
4 12 U.S.C. 5365(i)(2)(C). schedule to collect information of but does not include a parallel
5 12 U.S.C. 5365(i)(2)(B). definition for savings and loan holding
6 77 FR 61238 (October 9, 2012) (codified at 12 7 http://www.federalreserve.gov/reportforms. companies. Accordingly, savings and
CFR part 46). 8 82 FR 59608 (December 15, 2017). loan holding companies and federal
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savings associations that have the same comment. The OCC will continue to Other Changes
characteristics as other large and publish technical instructions as early The OCC proposed to eliminate
noncomplex firms would not as feasible. The technical changes do references to the term ‘‘extraordinary
technically qualify for the simplified not alter the burden associated with the items’’ to align with Federal Accounting
reporting requirements. The revisions reporting forms and do not impose Standards Board (FASB) Subtopic 255–
modify the DFAST–14A reporting forms additional requirements. The technical 30. The Board has decided to delay this
and instructions to provide that all instructions provide procedures for the change with respect to its FR Y–14A;
federal savings associations may comply submission of DFAST–14A data, therefore, in order to promote
with these simplified reporting covering matters such as file format and consistency between the OCC DFAST–
requirements. This change promotes other technical specifications. While the 14A and the FR Y–14A, the OCC will
parity between national banks and OCC publishes the technical delay this change until further notice.
federal savings associations that have instructions as early as possible, the Type of Review: Revision.
similar size profiles and economic OCC and the Board have historically not Affected Public: Businesses or other
characteristics. published the technical instructions for for-profit.
notice and comment. Estimated Number of Respondents:
Response to Comments The commenter also questioned the 26.
The OCC received one comment from need for the OCC Supplemental Estimated Total Annual Burden:
a trade association. The commenter Schedule. The commenter suggested 13,949 hours.
suggested that the effective date for that the Supplemental Schedule did not The OCC believes that the systems
changes to the OCC reporting templates serve a supervisory purpose. The covered institutions use to prepare the
align with changes to the Board’s commenter also opposed the FR Y–14 reporting templates to submit
reporting forms. The commenter also elimination of the materiality thresholds to the Board will also be used to prepare
suggested that there should be a for certain items, which the commenter the reporting templates described in this
minimum of six months between the believed would increase the reporting notice. Comments submitted in
publication of final changes to the burden. response to this notice will be
reporting templates and the effective The OCC considers those items summarized and included in the request
date of the changes. According to the included in the OCC Supplemental for OMB approval. All comments will
commenter, it is important to factor in Schedule as material risks that are become a matter of public record.
the amount of time necessary to resolve necessary for monitoring and assessing Comments continue to be invited on:
clarifying questions. a covered institution’s capital adequacy (a) Whether the collection of
The OCC recognizes the challenges and capital planning process. By information is necessary for the proper
with implementing changes in a timely requiring only subsidiaries of large, performance of the functions of the
and controlled manner. The OCC complex firms, as defined by the Board, OCC, including whether the information
continues to balance the need to collect to complete this schedule, these has practical utility;
additional information with the requirements now align with reporting (b) The accuracy of the OCC’s
objective of providing as much time as exceptions for a number of summary estimate of the burden of the collection
is feasible in advance of and operational risk subschedules. To of information;
implementation. With respect to the minimize reporting burden the OCC has (c) Ways to enhance the quality,
changes in this notice, the OCC has reduced the number of Supplemental utility, and clarity of the information to
sought to align effective dates for Schedule reporting items in half as part be collected;
reporting requirements to the extent of its process to continually ensure that (d) Ways to minimize the burden of
practical with synonymous changes to only key risk elements are included the collection on respondents, including
the Board’s Y–14A. For example, the within this schedule. As these items through the use of automated collection
OCC is eliminating the Regulatory represent key risks, relatively smaller techniques or other forms of information
Capital Transitions Schedule and the amounts of exposures within individual technology; and
Retail Repurchase Schedule to parallel firms could represent material aggregate (e) Estimates of capital or start-up
the Board’s changes to the Y–14A. The risks to the banking system. Therefore, costs and costs of operation,
addition of one item to the counterparty the OCC has substituted materiality maintenance, and purchase of services
worksheet to collect information on thresholds for reporting exemptions to provide information.
FVAs is consistent with changes made based on the size and complexity of the
by the Board. The OCC believes that Dated: January 29, 2018.
parent holding company, thereby
many of the reporting template changes aligning the reporting exceptions with a Karen Solomon,
are either burden-neutral or burden- number of summary and operational Acting Senior Deputy Comptroller and Chief
reducing. In addition to eliminating the risk subschedules. Counsel.
two schedules referenced above, the Regarding data collection challenges [FR Doc. 2018–02060 Filed 2–1–18; 8:45 am]
OCC is also reducing the number of data posed by the Supplemental Schedule for BILLING CODE 4810–33–P
items in the Supplemental Schedule by covered institutions, as noted in the
approximately half. The OCC instructions, covered institutions that
continually seeks to clarify and improve cannot use existing models and DEPARTMENT OF THE TREASURY
the DFAST–14A reporting instructions; methodologies to furnish requested
nevertheless, as is the case with all information on the OCC Supplemental Office of the Comptroller of the
Schedule may use allocations, expert Currency
sradovich on DSK3GMQ082PROD with NOTICES
reporting templates, there will always
be clarifying questions from the judgment, or other methods for
Agency Information Collection
industry, and the OCC seeks to respond projections of balances, losses, and
Activities: Information Collection
to questions in a timely manner. allowances if data is not available at the
Renewal; Comment Request;
The commenter also suggested that requested level of granularity. Covered
Customer Complaint Form
the technical instructions accompanying institutions should supply appropriate
any changes in the reporting templates documentation explaining their AGENCY: Office of the Comptroller of the
be subject to public notice and approach. Currency (OCC), Treasury.
VerDate Sep<11>2014 18:03 Feb 01, 2018 Jkt 244001 PO 00000 Frm 00066 Fmt 4703 Sfmt 4703 E:\FR\FM\02FEN1.SGM 02FEN1](https://thefederalregister.org/doc/83_FR_4980/page/3.svg)
Document Created: 2018-02-03 14:27:22
Document Modified: 2018-02-03 14:27:22
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
| Publisher | Office of the Federal Register, National Archives and Records Administration | |
| Section | Notices | |
| Action | Notice and request for comment. | |
| Dates | Comments must be received by March 5, 2018. | |
| Contact | Shaquita Merritt, OCC Clearance Officer, (202) 649-5490 or, for persons who are deaf or hearing impaired, TTY, (202) 649-5597, Legislative and Regulatory Activities Division, Office of the Comptroller of the Currency, 400 7th Street 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 (http://www.occ.treas.gov/tools-forms/forms/bank-operations/ stress-test-reporting.html). | |
| FR Citation | 83 FR 4957 |
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