US Agencies Publish Notice to Extend Form FFIEC 102 for Three Years

By Regulatory News

October 17, 2019

Basel III, Regulatory Capital, Regulatory Reporting: US

US Agencies (FDIC, FED, and OCC) published a joint notice regarding extension of the market risk regulatory report for institutions subject to the market risk capital rule (FFIEC 102). On June 25, 2019, the agencies, under the auspices of FFIEC, had issued a proposal to extend for three years without revision FFIEC 102, which is currently an approved collection of information for each agency. The comment period for the June 2019 notice ended on August 26, 2019. No comments were received on the proposal; therefore, FFIEC and the agencies will proceed with the extension of the FFIEC 102 as proposed. The agencies are now giving notice that they are sending the collections to OMB for review and the comment period for this notice ends on November 18, 2019.

FFIEC 102 is filed quarterly with the 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 agencies' regulatory capital rule (market risk institutions). Each market risk institution is required to file FFIEC 102 for the agencies' use in assessing the reasonableness and accuracy of an 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 agencies to monitor the market risk profile and evaluate the impact and competitive implications of the market risk capital rule on individual market risk institutions and the industry as a whole
Provides the most current statistical data available to identify areas of market risk on which to focus for onsite and offsite examinations
Allows the 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

Related Links

Comment Due Date: November 18, 2019

Keywords: Americas, US, Banking, Market Risk, Market Risk Capital Rule, FFIEC 102, Reporting, Regulatory Capital, FFIEC, US Agencies

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