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    US Agencies Issue Updates on FR Y-14 and FFIEC 102 Reports

    August 24, 2022

    The Board of Governors of the Federal Reserve System (FED) adopted a proposal for the stress testing reports FR Y-14A/Q/M, in addition to which certain US Agencies had been seeking comments, until August 24, 2022, on a proposal to extend for three years, without revision, the information collection FFIEC 102 with respect to the Market Risk Capital Rule.

    FED is adopted proposal to revise and extend, for three years, the Capital Assessments and Stress Testing Reports FR Y-14A/Q/M (OMB No. 7100-0341). FED had published, on March 01, 2022, a notice in the Federal Register requesting public comment for 60 days on the extension and revision of the FR Y-14A/Q/M reports. The proposed revisions were intended to enable FED to better identify risks not currently captured in the stress test, facilitate data reconciliation, and mitigate ambiguity within the instructions. FED has adopted the proposed revisions, with certain exceptions. FED and proposed to implement revisions to the FR Y-14Q and FR Y-14M effective for the September 30, 2022 as-of date and revisions to the FR Y-14A effective for the December 31, 2022 as-of date. Commenters had requested delay in certain implementations. However, some of the proposed changes are critical for the supervisory stress test and need to be implemented in time for use in the 2023 supervisory stress test. Unless otherwise specified, FED has adopted revisions as proposed. Nevertheless, to reduce firm burden, FED has delayed certain revisions to FR Y-14Q, Schedule H (Wholesale) and all the revisions to FR Y-14Q, Schedule L (Counterparty) until the June 30, 2023 as-of date.

     

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    Keywords: Americas, US, Banking, Stress Testing, Reporting, FR Y 14, Basel, Market Risk, FFIEC 102, Granular Data, US Agencies

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