FED is adopting a proposal to revise for three years, without extension, the reporting forms and the associated instructions for Capital Assessments and Stress Testing (FR Y-14A/Q/M; OMB No. 7100-0341). The revisions, including draft forms and instructions, are applicable with the reports as of December 31, 2018.
These collections of information are applicable to the U.S. intermediate holding companies and the top-tier bank holding companies with consolidated assets of USD 100 billion or more. This family of information collections comprises the following three reports:
- The semi-annual FR Y-14A, which collects quantitative projections of balance sheet, income, losses, and capital across a range of macroeconomic scenarios, and qualitative information on methodologies used to develop internal projections of capital across scenarios.
- The quarterly FR Y-14Q, which collects granular data on various asset classes, including loans, securities, trading assets, and pre-provision net revenue (PPNR) for the reporting period.
- The monthly FR Y-14M, which contains three retail portfolio- and loan-level schedules, along with one detailed address matching schedule to supplement two of the portfolio- and loan-level schedules.
The estimated number of respondents is 36 and the respondent firms are required to submit up to 18 filings each year: two semi-annual FR Y-14A filings, four quarterly FR Y-14Q filings, and 12 monthly FR Y-14M filings. On August 08, 2018, FED published a notice in the Federal Register requesting public comment for 60 days on the revision, without extension, of the Capital Assessments and Stress Testing (FR Y-14A/Q/M). The proposal was to revise sub-schedule L.5 (Derivatives and SFT Profile) of the FR Y-14Q in Schedule L (Counterparty) by adding back mistakenly omitted items for total stressed net current exposure to be reported under the two supervisory stressed scenarios. With the addition of these items, the instructions would be changed to modify the associated ranking methodologies for the yearly stressed/Comprehensive Capital Analysis and Review (CCAR) submission in sub-schedule L.5 to require the top 25 counterparties to be reported as ranked by the total stressed net current exposure. The comment period for this notice expired on October 09, 2018. FED had received one comment from a banking organization, with the request that FED adopt these changes and publish the associated materials as soon as possible to provide adequate time to implement and test the changes.
Related Link: Final Rule in Federal Register (PDF)
Keywords: Americas, US, Banking, Reporting, Stress Testing, FR Y-14, FED
Previous ArticleIFSB Issues Consultation on Financial Inclusion and Islamic Finance
BCBS amended the guidelines on sound management of risks related to money laundering and financing of terrorism (ML/FT).
US Agencies (Farm Credit Administration, FDIC, FED, FHFA, and OCC) finalized changes to the swap margin rule to facilitate implementation of prudent risk management strategies at banks and other entities with significant swap activities.
PRA published a letter that builds on the expectations set out in the supervisory statement (SS3/19) on enhancing banks' and insurers' approaches to managing the financial risks from climate change.
EBA finalized the guidelines on treatment of structural foreign-exchange (FX) positions under Article 352(2) of the Capital Requirements Regulation (CRR).
FSB published a statement on the impact of COVID-19 pandemic on global benchmark transition.
IAIS published the list of Internationally Active Insurance Groups (IAIGs) publicly disclosed by group-wide supervisors.
FED has temporarily revised the reporting form on consolidated financial statements for holding companies (FR Y-9C; OMB No. 7100-0128).
EC launched a consultation on the review of the key elements of Solvency II Directive, with the comment period ending on October 21, 2020.
ECB launched a consultation on the guide that sets out supervisory approach to consolidation projects in the banking sector.
IAIS published technical specifications, questionnaires, and templates for 2020 Insurance Capital Standard (ICS) and Aggregation Method data collections.