[Federal Register Volume 85, Number 21 (Friday, January 31, 2020)]
[Notices]
[Pages 5773-5775]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-01825]
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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; 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 (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 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. The OCC is
soliciting comment concerning 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 $250 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 on or before March 2, 2020.
ADDRESSES: Commenters are encouraged to submit comments by email, if
possible. You may submit comments by any of the following methods:
Email: [email protected].
Mail: Chief Counsel's Office, Office of the Comptroller of
the Currency, Attention: Comment Processing, 1557-0319, 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.
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
[email protected].
You may review comments and other related materials that pertain to
this information collection \1\ following the close of the 30-Day
comment period for this notice by any of the following methods:
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\1\ On October 10, 2019, 84 FR 52174, the OCC published a 60-day
notice for this information collection.
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Viewing Comments Electronically: Go to www.reginfo.gov.
Click on the ``Information Collection Review'' tab. Underneath the
``Currently under
[[Page 5774]]
Review'' section heading, from the 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 $100 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 navigating www.reginfo.gov, please
contact the Regulatory Information Service Center at (202) 482-7340.
Viewing Comments Personally: You may personally inspect
comments at the OCC, 400 7th Street SW, Washington, DC. 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
comments.
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, Chief Counsel's Office, Office of the
Comptroller of the Currency, 400 7 St. 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 $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 \2\ (Dodd-Frank Act) requires certain
financial companies, including national banks and federal savings
associations, to conduct annual stress tests \3\ and requires the
primary financial regulatory agency \4\ of those financial companies to
issue regulations implementing the stress test requirements.\5\ 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.\6\
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\2\ Public Law 111-203, 124 Stat. 1376, July 2010.
\3\ 12 U.S.C. 5365(i)(2)(A).
\4\ 12 U.S.C. 5301(12).
\5\ 12 U.S.C. 5365(i)(2)(C).
\6\ 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.\7\ 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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\7\ 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.\8\ The OCC published proposed revisions
to these templates on October 10, 2019.\9\ The OCC is now finalizing
these proposed revisions as described below.
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\8\ See 77 FR 49485 (August 16, 2012) and 77 FR 66663 (November
6, 2012).
\9\ 84 FR 52174 (October 10, 2019).
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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 $250 billion or more are required to submit
reports using Comprehensive Capital Analysis and Review (CCAR)
reporting form FR Y-14A.\10\ 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.\11\ Therefore, the
OCC is revising its reporting requirements to mirror the Board's FR Y-
14A for covered institutions with total consolidated assets of $250
billion or more. The changes include updates to various schedules to
reflect the current expected credit loss (CECL) accounting methodology.
These changes accommodate covered institutions that have adopted CECL
by the reporting date and those that have not yet adopted CECL by the
reporting date. The changes also include a collection of supplemental
CECL information. The changes also include items not related to CECL
adoption. The purpose of these changes is to keep the reporting forms
in line with changes in the Consolidated Reports of Condition and
Income (Call Report) as well as to provide further clarity or alignment
of the instructions with the XML reporting files. There are also
changes that require information to be reported at a different level of
granularity.
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\10\ http://www.federalreserve.gov/reportforms.
\11\ 74 FR 70529 (Dec. 23, 2019).
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Type of Review: Revision.
Affected Public: Businesses or other for-profit.
Estimated Number of Respondents: 8.
Estimated Total Annual Burden: 4,212 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.
On October 10, 2019, 84 FR 52174, the OCC published a 60-day notice
for this information collection, 84 FR 52174. 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,
[[Page 5775]]
maintenance, and purchase of services to provide information.
Dated: January 27, 2020.
Theodore J. Dowd,
Deputy Chief Counsel, Office of the Comptroller of the Currency.
[FR Doc. 2020-01825 Filed 1-30-20; 8:45 am]
BILLING CODE 4810-33-P