The US Agencies (FDIC, FED, and OCC) are submitting the form FFIEC 016, as originally proposed, to OMB for review. Subject to OMB approval, the proposed FFIEC 016 would take effect for the stress test report due on July 31, 2018. Comments close on March 26, 2018.
US Agencies, on October 06, 2017, under the auspices of FFIEC, had requested public comment for 60 days on the implementation of the proposed FFIEC 016, which is the Annual Dodd-Frank Act Company-Run Stress Test Report for Depository Institutions and Holding Companies with USD 10 to USD 50 Billion in Total Consolidated Assets. The comment period for the proposal had expired on December 05, 2017 and the agencies did not receive any comments.
The proposed FFIEC 016 would combine the agencies' three separate, yet identical, stress test reporting forms, which are currently approved collections of information, into a single new FFIEC report. The US Agencies proposed FFIEC 016 to replace the forms DFAST 10-50 of FDIC, FR Y-16 of FED, and DFAST 10-50B of OCC. As part of their proposed adoption of the new FFIEC 016 report, the agencies are proposing to implement a limited number of revisions that would align the report with recent changes to the FFIEC 031 and FFIEC 041 Call Reports and FR Y-9C of the FED. In addition, the agencies are proposing to have institutions provide their Legal Entity Identifier (LEI) on the reporting form, if they already have one. The proposed FFIEC 016 reporting requirements reflect the company-run stress testing requirements promulgated by the Dodd-Frank Act (as reflected in the agencies' current information collections).
Related Link: Federal Register Notice
Comment Due Date: March 26, 2018
Keywords: Americas, US, Banking, FR Y-16, Stress Testing, Reporting, US Agencies
Previous ArticleACPR Updates Taxonomic Controls Concerning Taxonomy RAN 1.1.0
PRA, via the consultation paper CP12/20, proposed changes to its rules, supervisory statements, and statements of policy to implement certain elements of the Capital Requirements Directive (CRD5).
EIOPA published the financial stability report that provides detailed quantitative and qualitative assessment of the key risks identified for the insurance and occupational pensions sectors in the European Economic Area.
EBA published its risk dashboard for the first quarter of 2020 together with the results of the risk assessment questionnaire.
EBA announced that the next stress testing exercise is expected to be launched at the end of January 2021 and its results are to be published at the end of July 2021.
PRA published the consultation paper CP11/20 that sets out its expectations and guidance related to auditors’ work on the matching adjustment under Solvency II.
MAS published a statement guidance on dividend distribution by banks.
APRA updated its capital management guidance for banks, particularly easing restrictions around paying dividends as institutions continue to manage the disruption caused by COVID-19 pandemic.
FSB published a report that reviews the progress on data collection for macro-prudential analysis and the availability and use of macro-prudential tools in Germany.
EBA issued a statement reminding financial institutions that the transition period between EU and UK will expire on December 31, 2020; this will end the possibility for the UK-based financial institutions to offer financial services to EU customers on a cross-border basis via passporting.
SRB published guidance on operational continuity in resolution and financial market infrastructure (FMI) contingency plans.