[Federal Register Volume 86, Number 62 (Friday, April 2, 2021)]
[Notices]
[Pages 17454-17455]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-06821]
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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 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 has
submitted the collection to OMB for review.
DATES: Comments must be received by May 3, 2021.
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, Attention: Comment
Processing, Office of the Comptroller of the Currency, Attention: 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.
Written comments and recommendations for the proposed information
collection should be sent within 30 days of publication of this notice
to www.reginfo.gov/public/do/PRAMain. Find this particular information
collection by selecting ``Currently under 30-day Review--Open for
Public Comments'' or by using the search function.
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 the following method:
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\1\ On January 28, 2021, the OCC published a 60-day notice for
this information collection, 86 FR 7456.
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Viewing Comments Electronically: Go to www.reginfo.gov.
Click on the ``Information Collection Review'' tab. Underneath the
``Currently under 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 $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 navigating www.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. 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. See 77 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.
[[Page 17455]]
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 January 28, 2021.\8\
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\8\ 86 FR 7456 (Jan. 28, 2021).
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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 and implemented 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.\10\ 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.
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\9\ http://www.federalreserve.gov/reportforms.
\10\ 85 FR 56607 (Sept. 14, 2020); 85 FR 63222 (Oct. 7, 2020).
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The OCC's changes include updates to various schedules to reflect
the adoption of the tailoring framework used to determine the
applicability of regulatory capital requirements to large U.S. banking
organizations.\11\ Other changes include removing the worksheet for
reporting advanced approaches risk-weighted assets and the worksheet
for reporting pre-provision net revenue (PPNR) metrics as well as
technical changes to various individual data items. The changes to the
OCC's reporting templates do not include data items in the FR Y-14A
associated with several capital buffers related ratios, such as the
Board's stress capital buffer requirement adopted in 2020.\12\ The
changes remove certain items that are collected from Board-regulated
institutions but that will not be required from national banks and
federal savings associations. The changes remove the OCC Supplemental
Schedule, which collects information not collected by the FR Y-14A.
While the proposed changes included the deletion of some instructions
related to the counterparty default scenario, the final instructions do
not include this change. The retention of these instructions is meant
to clarify that the requirement to include a counterparty default
scenario is not being changed.
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\11\ 84 FR 59232 (Nov. 1, 2019).
\12\ 85 FR 15576 (March 18, 2020).
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The OCC did not receive any comments on the proposed revisions.
Type of Review: Revision.
Affected Public: Businesses or other for-profit.
Estimated Number of Respondents: 8.
Estimated Total Annual Burden: 3,716 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 January 28, 2021, the OCC published a notice for 60 days of
comment concerning this collection, 86 FR 7456. 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.
[FR Doc. 2021-06821 Filed 4-1-21; 8:45 am]
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