OCC proposed to renew the information collection titled “Annual Stress Test Rule,” for which the comments must be received by February 04, 2019. The proposed information collection is associated with the form FFIEC 016 on the Annual Dodd-Frank Act Company-Run Stress Test Report for depository institutions and holding companies with USD 10 to 50 billion in consolidated assets.
Section 165(i)(2) of the Dodd-Frank Act requires certain financial companies, including national banks and federal savings associations, to conduct annual stress tests and requires the primary financial regulatory agency of those financial companies to issue regulations implementing the stress test requirements. Each covered institution is required to annually report to OCC and FED the results of the stress test in the time, manner, and form specified by OCC. The estimated number of respondents for this information collection is 61.
Related Link: Proposed Rule in Federal Register
Comment Due Date: February 04, 2019
Keywords: Americas, US, Banking, Stress Testing, Dodd Frank Act, DFAST, FFIEC 016, Reporting, OCC
Previous ArticleESAs RTS to Extend Treatment of Covered Bonds to STS Securitization
FCA and PRA in the UK, FED in the US, and the authorities in Singapore have fined Goldman Sachs for risk management failures in connection with the 1Malaysia Development Berhad (1MDB).
BCBS announced that OSFI and the Bank of Canada hosted the 21st International Conference of Banking Supervisors (ICBS) virtually on October 19-22, 2020.
FCA proposed guidance on how firms should continue to seek to help customers who hold insurance and premium finance products and may be in financial difficulty because of COVID-19, after October 31, 2020.
EBA issued an opinion on prudential treatment of the legacy instruments as the grandfathering period nears an end on December 31, 2021.
ESRB published the fifth issue of the EU Non-bank Financial Intermediation Risk Monitor 2020 (NBFI Monitor).
HM Treasury announced that the new Financial Services Bill has been introduced in the Parliament.
APRA announced that it has increased the minimum liquidity requirement of Bendigo and Adelaide Bank for failing to comply with the prudential standard on liquidity.
PRA published the consultation paper CP17/20 to propose changes to certain rules, supervisory statements, and statements of policy to implement elements of the Capital Requirements Directive (CRD5).
US Agencies adopted a final rule that applies to advanced approaches banking organizations and aims to reduce interconnectedness in the financial system as well as to reduce contagion risks associated with the failure of a global systemically important bank (G-SIB).
US Agencies (FDIC, FED, and OCC) adopted a final rule that implements the net stable funding ratio (NSFR) for certain large banking organizations.