OCC Proposes to Revise Company-Run Annual Stress Test Reporting Form
OCC is proposing to revise regulatory reporting requirements in the reporting form (FR Y-14A) on company-run annual stress test for covered institutions, under the Dodd-Frank Act. The proposed change concerns national banks and federal savings associations. Comments must be received by March 04, 2019.
The modifications include changes to accommodate the revised asset threshold necessitated by Economic Growth, Regulatory Relief, and Consumer Protection (EGRRCP) Act and the removal of the Retail Repurchase worksheet and various clarifications in the instructions. In addition to these changes that parallel FED's changes to the FR Y-14A, OCC is also removing or modifying certain items on the OCC Supplemental Schedule, which collects additional information not included in the FR Y-14A.
OCC recognizes that many covered institutions are required to submit reports using Comprehensive Capital Analysis and Review (CCAR) reporting form FR Y-14A. OCC also recognizes that FED has modified the FR Y-14A and, to the extent practical, OCC has kept its reporting requirements consistent with the FED's FR Y-14A in an effort to minimize burden on covered institutions. Therefore, OCC is revising its reporting requirements to mirror the FED's proposed FR Y-14A for covered institutions. The estimated number of respondents for this information collection is eight. Additionally, OCC, in coordination with FED and FDIC, is in the process of revising its stress testing regulation to incorporate EGRRCP Act's amendments.
Related Links
Comment Due Date: March 04, 2019
Keywords: Americas, US, Banking, Stress Testing, EGRRCP Act, FR Y-14A, Reporting, OCC
Featured Experts
Laurent Birade
Advises U.S. and Canadian financial institutions on risk and finance integration, CCAR/DFAST stress testing, IFRS9 and CECL credit loss reserving, and credit risk practices.
James Partridge
Credit analytics expert helping clients understand, develop, and implement credit models for origination, monitoring, and regulatory reporting.
María Cañamero
Skilled market researcher; growth strategist; successful go-to-market campaign developer
Previous Article
BCRA Updates Minimum Capital and LCR Rules in January 2019Related Articles
EC Adopts Financial Reporting Changes Arising from Benchmark Reforms
EC published Regulation 2021/25 that addresses amendments related to the financial reporting consequences of replacement of the existing interest rate benchmarks with alternative reference rates.
BIS Bulletin Examines Key Elements of Policy Response to Cyber Risk
BIS published a bulletin, or a note, that examines the cyber threat landscape in the context of the pandemic and discusses policies to reduce risks to financial stability.
HMT Updates List of Post-Brexit Equivalence Decisions in UK
HM Treasury, also known as HMT, has updated the table containing the list of the equivalence decisions that came into effect in UK at the end of the transition period of its withdrawal from EU.
EBA Issues Erratum for Technical Package on Reporting Framework 3.0
EBA published an erratum for technical package on phase 1 of the reporting framework 3.0.
APRA Publishes FAQ on Measurement of Credit Risk Weighted Assets
APRA updated a frequently asked question (FAQ), for authorized deposit-taking institutions, on the measurement of credit risk weighted assets.
EBA Publishes Risk Dashboard for Third Quarter of 2020
EBA published the quarterly risk dashboard, along with the results of the Risk Assessment Questionnaire survey among 60 banks and 15 market analysts.
ECB Analysis Shows Privacy as Biggest Concern in Use of Digital Euro
ECB concluded the public consultation on the introduction of a digital euro in EU.
ECB Finalizes Guide on Supervisory Approach to Bank Consolidation
ECB published a guide that sets out the supervisory approach to consolidation in the banking sector.
SRB Chair Outlines Work Priorities for 2021
The SRB Chair Elke König published an article setting out work priorities for 2021.
FDIC Selects Companies to Compete in Final Phase of Tech Sprint
FDIC has selected 11 technology companies—including BearingPoint, Fed Reporter, Inc, and S&P Global Market Intelligence, LLC—for inclusion in the third and final phase of the rapid prototyping competition.
