June 04, 2019

OCC announced its decision to extend, to November 25, 2019, the deadline for compliance with the Dodd-Frank Act Stress Test (DFAST) requirements applicable to national banks and federal savings associations with total consolidated assets from USD 100 billion to less than USD 250 billion. Since these banks will not be subject to the DFAST requirements as of November 25, 2019, OCC believes that there would be limited supervisory benefit in requiring DFAST submissions for these banks in 2019.

This action is consistent with the Economic Growth, Regulatory Relief, and Consumer Protection (EGRRCP) Act’s purpose of avoiding unnecessary regulatory burden for national banks and federal savings associations with total consolidated assets less than USD 250 billion. Prior DFAST exams and OCC supervision have shown that national banks and federal savings associations of this size have adopted effective stress testing programs and integrated them into their general risk management tools. Therefore, requiring DFAST submissions for these banks in 2019 would provide limited supervisory value. OCC communicated this decision by directly sending a letter to the affected banks in December 2018. 

 

Related Links 

Keywords: Americas, US, Banking, DFAST, Stress Testing, EGRRCP Act, Extension of Deadline, OCC

Related Articles
News

BIS Report Discusses Regulatory Issues Related to Big Techs in Finance

BIS has pre-released a chapter of the BIS Annual Economic Report; this chapter focuses on the risks and opportunities presented by large technology firms in the financial services sector.

June 23, 2019 WebPage Regulatory News
News

IOSCO Report Examines Liquidity in Corporate Bond Markets

IOSCO published a report that examines the factors affecting liquidity, under stressed conditions, in the secondary corporate bond markets.

June 21, 2019 WebPage Regulatory News
News

FED Publishes Results of the 2019 Stress Tests for Banks

FED published a report presenting results of the Dodd-Frank Act Stress Test (DFAST) exercise for 2019.

June 21, 2019 WebPage Regulatory News
News

BCBS Report Examines Global Pillar 2 Supervisory Review Practices

BCBS published a report that examines the Pillar 2 supervisory review practices and approaches in Basel member jurisdictions.

June 21, 2019 WebPage Regulatory News
News

IASB Publishes Work Plan and Meeting Updates for June 2019

IASB published an updated work plan and a summary of its June meeting, which presents preliminary decisions of the Board.

June 21, 2019 WebPage Regulatory News
News

HKMA Publishes Banking Exposure Limits Code Under Banking Ordinance

HKMA issued a circular to all authorized institutions informing that the Banking (Exposure Limits) Code has been published in the Gazette on June 21, 2019.

June 21, 2019 WebPage Regulatory News
News

OSFI Proposes Guideline on Internal Model Oversight for Insurers

OSFI proposed the draft guideline E-25 on the internal model oversight framework for federally regulated property and casualty (P&C) insurance companies.

June 21, 2019 WebPage Regulatory News
News

EBA Single Rulebook Q&A: Third Update for June 2019

Under the Single Rulebook question and answer (Q&A) updates for this week, EBA published one answer regarding the calculation of institution-specific countercyclical capital buffer rates.

June 21, 2019 WebPage Regulatory News
News

BCBS Publishes Summary of the Meeting in June 2019

BCBS published a summary of its June meeting in Basel.

June 20, 2019 WebPage Regulatory News
News

OCC Bulletin on Risk Management Guidance for Home Mortgage Lending

OCC published Bulletin 2019-28 on risk management guidance for higher-loan-to-value (LTV) lending activities in communities targeted for revitalization.

June 19, 2019 WebPage Regulatory News
RESULTS 1 - 10 OF 3298