OCC is proposing to revise the regulatory reporting requirements for stress testing of national banks and federal savings associations. The related information collection is called 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 recognizes that FED has modified its reporting form FR Y-14A and OCC has kept its reporting requirements consistent with the FED's FR Y-14A to minimize burden on covered institutions. Therefore, OCC is revising its reporting requirements to mirror the FR Y-14A report of FED for covered institutions with total consolidated assets of USD 250 billion or more. OCC is also giving notice that it has sent the collection to OMB for review. Comments on the proposal must be received by March 02, 2020.
The changes include updates to various schedules to reflect the current expected credit loss (CECL) accounting methodology. These changes accommodate covered institutions that have adopted CECL by the reporting date and those that have not yet adopted CECL by the reporting date. The changes include a collection of supplemental CECL information. The 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 require information to be reported at a different level of granularity. In October 2019, OCC had published a notice requesting comments for this information collection. The comment period for the October 2019 consultation ended in December 2019 and OCC had received no comments on the notice. OCC is now giving notice that it has sent the collection to OMB for review.
Comment Due Date: March 02, 2020
Keywords: Americas, US, Banking, Stress testing, Dodd-Frank Act, FR Y-14, CECL, Reporting, CCAR, DFAST 14A, FED, OCC
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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