FED updated draft instructions for the monthly, quarterly, and annual capital assessments and stress testing reports, also known as forms FR Y-14M, FR Y-14Q, FR Y-14A, respectively. The draft instructions have been updated for the proposed changes for both current expected credit losses methodology (CECL) and non-CECL amendments.
These information collections are applicable to the top-tier bank holding companies with total consolidated assets of USD 100 billion or more as well as the U.S. intermediate holding companies that have consolidated assets of USD 50 billion or more and that are subsidiaries of foreign banking organizations. The data are used to assess the capital adequacy of reporting entities, using the forward-looking projections of revenue and losses, to support supervisory stress test models and continuous monitoring efforts and to inform the operational decision-making of FED. The annual schedules are reported as of December 31 each year. For quarterly reporting, schedules are reported on the last calendar day of the quarter, with exceptions for the Trading and Counterparty Schedules. Since the Trading Schedule data are part of the Comprehensive Capital Analysis and Review (CCAR) market shock exercise, the as-of date for the fourth quarter will be communicated in the first quarter. For all other quarters, the as-of date will be the last day of the quarter. For monthly reporting, FED collects data on the last business day of each calendar month.
Keywords: Americas, US, Banking, Reporting, FR Y-14, Stress Testing, CECL, IFRS 9, CCAR, Dodd Frank Act, FED
Scott is a Director in the Regulatory and Accounting Solutions team responsible for providing accounting expertise across solutions, products, and services offered by Moody’s Analytics in the US. He has over 15 years of experience leading auditing, consulting and accounting policy initiatives for financial institutions.
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