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    FED Proposes to Extend Data Collection Under Stress Testing Guidance

    March 08, 2021

    FED proposed three-year extension, without revision, of the information collection FR 4202, titled "Recordkeeping Provisions Associated with Stress Testing Guidance." The stress testing guidance outlines high-level principles for stress testing practices applicable to all FED-supervised banking organizations with more than USD 10 billion in consolidated assets. Whether and how any changes should be made to the guidance in light of the recent amendments to the FED stress testing rules‚ÄČis under consideration. FED will publish the proposed changes to FR 4202 via a separate notice. The comment period for the proposed FR 4202 extension ends on May 07, 2021.

    The stress testing guidance recommends that banking organizations have in place a stress testing framework, which includes clearly defined objectives and well-designed scenarios tailored to the banking organization's business and risks, along with the well-documented assumptions, conceptually sound methodologies to assess potential impact on the financial condition, informative management reports, and recommended actions based on stress test results. The guidance recommends that banking organizations should implement appropriate policies and procedures for a stress testing framework. Among other issues, FED invited comments on ways to enhance the quality, utility, and clarity of the information to be collected and on ways to minimize the burden of information collection on respondents, including through the use of automated collection techniques or other forms of information technology. The estimated number of respondents for this information collection (FR 4202) is 100.

     

    Related Link: Federal Register Notice

    Comment Due Date: May 07, 2021

    Keywords: Americas, US, Banking, Stress Testing, Recordkeeping, Information Collection, FR 4202, FED

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