[Federal Register Volume 87, Number 206 (Wednesday, October 26, 2022)]
[Notices]
[Pages 64841-64842]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-23246]


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DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency


Agency Information Collection Activities: Information Collection 
Renewal; Comment Request; Annual Stress Test Rule

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 comment on a continuing information 
collection as required by the Paperwork Reduction Act of 1995 (PRA). An 
agency may not conduct or sponsor, and respondents are 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 the renewal of its information collection 
titled ``Annual Stress Test Rule.'' The OCC also is giving notice that 
it has sent the collection to OMB for review.

DATES: Comments must be submitted on or before November 25, 2022.

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, 1557-0343, 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) 293-4835.
    Instructions: You must include ``OCC'' as the agency name and 
``1557-0343'' 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 
information collection by selecting ``Currently under 30-day Review--
Open for Public Comments'' or by using the search function.
    On June 30, 2022, the OCC published a 60-day notice for this 
information collection, 87 FR 39159. 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'' from the 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 ``1557-0343'' or ``Annual 
Stress Test Rule.'' 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 Street 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.

SUPPLEMENTARY INFORMATION: Under the PRA (44 U.S.C. 3501 et seq.), 
Federal agencies must obtain approval from the OMB for each collection 
of information that they conduct or sponsor. ``Collection of 
information'' is defined in 44 U.S.C. 3502(3) and 5 CFR 1320.3(c) to 
include agency requests or requirements that members of the public 
submit reports, keep records, or disclose information to a third party. 
The OCC asks that OMB extend its approval of the collection in this 
notice.
    Title: Annual Stress Test Rule.
    OMB Control No.: 1557-0343.
    Type of Review: Regular review.
    Abstract: The annual stress test rule \1\ implemented Section 
165(i) of the Dodd-Frank Wall Street Reform and Consumer Protection Act 
\2\ (``Dodd-Frank Act'') which requires certain companies to conduct 
stress tests. As enacted by the Dodd-Frank Act, national banks and 
Federal savings associations with total consolidated assets of more 
than $10 billion were required to conduct annual stress tests and 
comply with reporting and disclosure requirements under the rule. The 
reporting templates for institutions with total consolidated assets of 
over $50 billion were finalized in 2012.\3\
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    \1\ 77 FR 61238 (October 9, 2012).
    \2\ Dodd-Frank Wall Street Reform and Consumer Protection Act, 
Public Law 111-203, 124 Stat. 1376 (2010).
    \3\ 77 FR 49485 (August 16, 2012); 77 FR 66663 (November 6, 
2012).
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    Section 165(i)(2) of the Dodd-Frank Act required certain financial 
companies, including national banks and Federal savings associations, 
to conduct annual stress tests \4\ and requires the primary financial 
regulatory agency \5\ of those financial companies to issue regulations 
implementing the stress test requirements.\6\
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    \4\ 12 U.S.C. 5365(i)(2)(A).
    \5\ 12 U.S.C. 5301(12).
    \6\ 12 U.S.C. 5365(i)(2)(C).
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    Under section 165(i)(2), a covered institution was 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.\7\
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    \7\ 12 U.S.C. 5365(i)(2)(B).
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    The Economic Growth, Regulatory Relief, and Consumer Protection Act 
(EGRRCPA), enacted on May 24, 2018, amended certain aspects of the

[[Page 64842]]

company-run stress testing requirement in section 165(i)(2) of the 
Dodd-Frank Act.\8\ Specifically, section 401 of EGRRCPA raises the 
minimum asset threshold for financial companies covered by the company-
run stress testing requirement from $10 billion to $250 billion in 
total consolidated assets; revises the requirement for banks to conduct 
stress tests ``annually'' and instead requires them to conduct stress 
tests ``periodically''; and no longer requires the OCC to provide an 
``adverse'' stress-testing scenario, thus reducing the number of 
required stress test scenarios from three to two.
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    \8\ Public Law 115-174, 132 Stat. 1296-1368 (2018).
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    The OCC uses the information to assess the reasonableness of the 
stress test results and provide forward-looking information to the OCC 
regarding a covered institution's capital adequacy. The OCC also may 
use stress test results 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 
support ongoing improvement in a covered institution's stress testing 
practices with respect to its internal assessments of capital adequacy 
and overall capital planning.
    Under 12 CFR 46.6(c), each covered institution is required to 
establish and maintain a system of controls, oversight, and 
documentation, including policies and procedures, describing the 
covered institution's stress test practices and methodologies, and 
processes for validating and updating the covered institution's stress 
test practices. The board of directors of the covered institution must 
approve and review these policies at least annually. Section 46.7(a) 
requires each covered institution to report the results of their stress 
tests to the OCC annually. Section 46.8(a) requires that a covered 
institution publish a summary of the results of its annual stress tests 
on its website or in any other forum that is reasonably accessible to 
the public.
    The 2019 increase in the applicability threshold for these 
requirements \9\ reduced the estimated number of respondents. In 
addition, the frequency of these reporting, recordkeeping, and 
disclosure requirements for some institutions were scaled back to 
biennial.
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    \9\ 84 FR 54472 (October 10, 2019).
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    Affected Public: Businesses or other for-profit.
    Estimated Annual Burden: 6,240 Hours.
    Frequency of Response: Annual or biannual.
    Comments: On June 30, 2022, the OCC published a 60-day notice for 
this information collection, 87 FR 39159. No comments were received. 
Comments continue to be solicited on:
    (a) Whether the collections of information are 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 estimates of the information 
collection burden;
    (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.

Patrick T. Tierney,
Assistant Director, Bank Advisory, Office of the Comptroller of the 
Currency.
[FR Doc. 2022-23246 Filed 10-25-22; 8:45 am]
BILLING CODE 4810-33-P