US Agencies Propose to Extend Form FFIEC 102 for Three Years
US Agencies (FDIC, FED, and OCC) are proposing to extend for three years, without revision, the market risk regulatory report for institutions subject to the market risk capital rule (FFIEC 102). FFIEC 102 is currently an approved collection of information for each agency. FFIEC has approved the US Agencies' proposal. Comments must be submitted on or before August 26, 2019.
FFIEC 102 is filed quarterly with the US Agencies and provides information for market risk institutions, defined for this purpose as the institutions that are subject to the market risk capital rule as incorporated into Subpart F of the US Agencies' regulatory capital rules. Each market risk institution is required to file the FFIEC 102 for the agencies' use in assessing the reasonableness and accuracy of the institution's calculation of its minimum capital requirements under the market risk capital rule and in evaluating the institution's capital in relation to its risks. Additionally, the market risk information collected in the FFIEC 102:
- Permits the US Agencies to monitor the market risk profile of, and evaluate the impact and competitive implications of, the market risk capital rule on individual market risk institutions and the industry
- Provides the most current statistical data available to identify areas of market risk, on which to focus for onsite and offsite examinations
- Allows the US Agencies to assess and monitor the levels and components of each reporting institution's risk-based capital requirements for market risk and the adequacy of the institution's capital under the market risk capital rule
- Assists market risk institutions in validating their implementation of the market risk framework
US Agencies invite comment on the following topics related to these collections of information:
- Whether the information collections are necessary for the proper performance of the US Agencies' functions, including whether the information has practical utility
- The accuracy of the US Agencies' estimates of the burden of the information collections, including the validity of the methodology and assumptions used
- Ways to enhance the quality, utility, and clarity of the information to be collected
- Ways to minimize the burden of information collections on respondents, including through the use of automated collection techniques or other forms of information technology
- Estimates of capital or start-up costs and costs of operation, maintenance, and purchase of services to provide information
At the end of the comment period for this notice, FFIEC and the US Agencies will review the comments received to determine whether to modify the proposal in response to comments. US Agencies will then publish a second Federal Register notice for a 30-day comment period and submit the final FFIEC 102 to OMB for review and approval.
Related Link: Federal Register Notice
Comment Due Date: August 26, 2019
Keywords: Americas, US, Banking, Market Risk, Market Risk Capital Rule, FFIEC 102, Reporting, Regulatory Capital, FFIEC, US Agencies
Featured Experts
María Cañamero
Skilled market researcher; growth strategist; successful go-to-market campaign developer
Nicolas Degruson
Works with financial institutions, regulatory experts, business analysts, product managers, and software engineers to drive regulatory solutions across the globe.
Patrycja Oleksza
Applies proficiency and knowledge to regulatory capital and reporting analysis and coordinates business and product strategies in the banking technology area
Previous Article
BaFin Consultation on Management of Sustainability RisksRelated Articles
PRA and FPC Finalize Changes to Leverage Ratio Framework in UK
The Prudential Regulation Authority (PRA) published the final policy statement PS21/21 on the leverage ratio framework in the UK. PS21/21, which sets out the final policy of both the Financial Policy Committee (FPC) and PRA
CFPB Proposes Rule on Small Business Lending Data Collection
The Consumer Financial Protection Bureau (CFPB) proposed to amend Regulation B to implement changes to the Equal Credit Opportunity Act (ECOA) under Section 1071 of the Dodd-Frank Act.
PRA Decides to Maintain O-SII Buffers for Another Year
The Prudential Regulation Authority (PRA) decided to maintain, at the 2019 levels, the buffer rates for the Other Systemically Important Institutions (O-SII) for another year, with no new rates to be set until December 2023.
FSB Report Assesses Implementation of Recommendations on Stablecoins
The Financial Stability Board (FSB) published a progress report on implementation of its high-level recommendations for the regulation, supervision, and oversight of global stablecoin arrangements.
APRA Updates Loan Serviceability Expectations for Home Lending
In a letter to the authorized deposit taking institutions, the Australian Prudential Regulation Authority (APRA) announced an increase in the minimum interest rate buffer it expects banks to use when assessing the serviceability of home loan applications.
CPMI and IOSCO Consult on Guidance on Stablecoin Arrangements
The Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) are consulting on the preliminary guidance that clarifies that stablecoin arrangements should observe international standards for payment, clearing, and settlement systems.
EBA and EIOPA Set Out Work Priorities for 2022
The European Banking Authority (EBA) and the European Insurance and Occupational Pensions Authority (EIOPA) have set out their respective work priorities for 2022.
MFSA Issues Reporting Updates and Guidance for Banks
The Malta Financial Services Authority (MFSA) updated the guidelines on supervisory reporting requirements under the reporting framework 3.0, in addition to the reporting module on leverage under the common reporting (COREP) framework.
EC Publishes Decision on List of Equivalent Third Countries Under CRR
The European Commission (EC) published the Implementing Decision 2021/1753 on the equivalence of supervisory and regulatory requirements of certain third countries and territories for the purposes of the treatment of exposures, in accordance with the Capital Requirements Regulation or CRR (575/2013).
EC Rule on Contractual Recognition of Write-Down and Conversion Powers
EC published the Implementing Regulation 2021/1751, which lays down implementing technical standards on uniform formats and templates for notification of determination of the impracticability of including contractual recognition of write-down and conversion powers.
