February 11, 2019

OCC is proposing to renew its information collection titled “Annual Stress Test Rule” (OMB Control No: 1557-0311). Comments must be received on or before March 13, 2019. 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 shall annually report to OCC and FED the results of the stress test in the time, manner, and form specified by OCC. A covered institution publishes 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 summary must include a description of the types of risks included in the stress test, a summary description of the methodologies used in the stress test, estimates of aggregate losses, pre-provision net revenue, provisions for loan and lease losses, net income, and pro forma capital ratios, along with an explanation of the most significant causes of the changes in regulatory capital ratios. The summary also must reflect, for estimates of aggregate losses, pre-provision net revenue, provisions for loan and lease losses, the estimated cumulative effects and estimated capital ratios, net income, and pro forma capital ratios (including regulatory and any other capital ratios specified by OCC) at the end of the planning horizon, under the severely adverse scenario. The estimated number of respondents to this information collection is 61.

 

Related Link: Federal Register Notice

Comment Due Date: March 13, 2019

Keywords: Americas, US, Banking, Stress Testing, Reporting, Stress Test Rule, Dodd Frank Act, OCC

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