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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

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 Reductio...

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Department of the Treasury
Office of the Comptroller of the Currency

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 comment on a continuing information collection as required by the Paperwork Reduction Act of 1995 (PRA). In accordance with the requirements of the ( printed 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:

  • Email: .
  • 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.
  • Hand Delivery/Courier: 400 7th Street SW, Suite 3E-218, Washington, DC 20219.
  • 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 www.reginfo.gov 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 www.reginfo.gov/​public/​do/​PRAMain. 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.

  • Viewing Comments Electronically: Go to www.reginfo.gov. 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.
  • For assistance in navigatingwww.reginfo.gov, 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 ( 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 $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]

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.

In 2012, the OCC first implemented the reporting templates referenced in the final rule. See77 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]

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 ( printed page 8991) Board's FR Y-14A for covered institutions with total consolidated assets of $250 billion or more.

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 https://www.occ.treas.gov/​publications-and-resources/​forms/​dodd-frank-act-stress-test/​index-dodd-frank-act-stress-test.html.

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.

Footnotes

1.  Public Law 111-203, 124 Stat. 1376, July 2010.

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6.  77 FR 61238 (October 9, 2012) (codified at 12 CFR part 46).

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7.  87 FR 52560 (August 26, 2022).

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[FR Doc. 2023-02873 Filed 2-9-23; 8:45 am]

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88 FR 8989

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“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,” thefederalregister.org (February 10, 2023), https://thefederalregister.org/documents/2023-02873/agency-information-collection-activities-information-collection-revision-submission-for-omb-review-company-run-annual-st.