OCC is proposing to revise a regulatory reporting requirement, as part of the reporting form FR Y-14A, for national banks and federal savings associations. The related information collection is for the company-run annual stress test reporting template and documentation for covered institutions with total consolidated assets of USD 250 billion or more, under the Dodd-Frank Act. OCC is proposing to revise its reporting requirements to mirror the proposed FR Y-14A of FED for covered institutions with total consolidated assets of USD 250 billion or more. The comment period on this proposal ends on December 02, 2019.
The proposed changes include updates to various schedules to reflect the current expected credit loss (CECL) accounting methodology. These changes would accommodate covered institutions that have adopted CECL by the reporting date and those that have not yet adopted CECL by the reporting date. The proposed changes also include a collection of supplemental CECL information. The proposed changes also include items not related to CECL adoption. The purpose of these changes is to keep the reporting forms in line with changes in the Consolidated Reports of Condition and Income (Call Report) as well as to provide further clarity or alignment of the instructions with the XML reporting files. There are also changes that would require information to be reported at a different level of granularity. OCC believes that the systems covered institutions use to prepare the FR Y-14 reporting templates to submit to FED will also be used to prepare the reporting templates described in the notice.
Section 165(i)(2) of the Dodd-Frank Act requires certain financial companies, including national banks and federal savings associations, to conduct annual stress tests and requires the primary financial regulatory agency of those financial companies to issue regulations implementing the stress test requirements. Under section 165(i)(2), a covered institution is required to submit to FED and to its primary financial regulatory agency a report at such time, in such form, and containing such information as the primary financial regulatory agency may require.
Related Link: Federal Register Notice
Comment Due Date: December 02, 2019
Keywords: Americas, US, Banking, EGRRCP Act, Stress Testing, Dodd Frank Act, FR Y-14, CECL, Reporting, CCAR, FED, OCC
Previous ArticleSNB Publishes Capital Adequacy Reporting Forms Under Basel III
The European Banking Authority (EBA) published the final draft regulatory technical standards specifying and, where relevant, calibrating the minimum performance-related triggers for simple.
The European Central Bank (ECB) is undertaking the integrated reporting framework (IReF) project to integrate statistical requirements for banks into a standardized reporting framework that would be applicable across the euro area and adopted by authorities in other EU member states.
The Basel Committee on Banking Supervision met, shortly after a gathering of the Group of Central Bank Governors and Heads of Supervision (GHOS), the oversight body of BCBS.
The International Organization of Securities Commissions (IOSCO) welcomed the work of the international audit and assurance standard setters—the International Auditing and Assurance Standards Board (IAASB)
The European Banking Authority (EBA) has been awarded the top European Standard for its environmental performance under the European Eco-Management and Audit Scheme (EMAS).
The Monetary Authority of Singapore (MAS) set out the Financial Services Industry Transformation Map 2025 and, in collaboration with the SGX Group, launched ESGenome.
The Bank of England (BoE) published a Statistical Notice (2022/18), which informs that due to the Bank Holiday granted for Her Majesty Queen Elizabeth II’s State Funeral on Monday September 19, 2022.
The French Prudential Control and Resolution Authority (ACPR) announced that the European Banking Authority (EBA) has updated its filing rules and the implementation dates for certain modules of the EBA reporting framework 3.2.
The European Central Bank (ECB) published a paper that examines how credit rating agencies accepted by the Eurosystem, as part of the Eurosystem Credit Assessment Framework (ECAF)
The Australian Prudential Regulation Authority (APRA) announced reduction in the aggregate Committed Liquidity Facility (CLF) for authorized deposit-taking entities to ~USD 33 billion on September 01, 2022.