Featured Product

    OCC Consults on Annual Stress Test Reporting Requirement for Banks

    October 01, 2019

    OCC is proposing to revise a regulatory reporting requirement, as part of the reporting form FR Y-14A, for national banks and federal savings associations. The related information collection is for 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 is proposing to revise its reporting requirements to mirror the proposed FR Y-14A of FED for covered institutions with total consolidated assets of USD 250 billion or more. The comment period on this proposal ends on December 02, 2019.

    The proposed changes include updates to various schedules to reflect the current expected credit loss (CECL) accounting methodology. These changes would accommodate covered institutions that have adopted CECL by the reporting date and those that have not yet adopted CECL by the reporting date. The proposed changes also include a collection of supplemental CECL information. The proposed 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 would require information to be reported at a different level of granularity. OCC believes that the systems covered institutions use to prepare the FR Y-14 reporting templates to submit to FED will also be used to prepare the reporting templates described in the notice.

    Section 165(i)(2) of the Dodd-Frank Act requires certain financial companies, including national banks and federal savings associations, to conduct annual stress tests and requires the primary financial regulatory agency of those financial companies to issue regulations implementing the stress test requirements. Under section 165(i)(2), a covered institution is required to submit to FED and to its primary financial regulatory agency a report at such time, in such form, and containing such information as the primary financial regulatory agency may require. 

     

    Related Link: Federal Register Notice

    Comment Due Date: December 02, 2019

    Keywords: Americas, US, Banking, EGRRCP Act, Stress Testing, Dodd Frank Act, FR Y-14, CECL, Reporting, CCAR, FED, OCC

    Featured Experts
    Related Articles
    News

    NGFS Updates Address Short-Term Climate Scenarios and Transition Plans

    The Network for Greening the Financial System (NGFS) is exploring the development of short-term climate scenarios to complement its existing scenario framework of long-term climate scenarios.

    May 31, 2023 WebPage Regulatory News
    News

    ISSB Updates Address ESG Issues while IASB Consults on Impairments

    The International Sustainability Standards Board (ISSB) is seeking feedback, until August 09, 2023, on the exposure draft that sets out the methodology proposed by ISSB to amend the Sustainability Accounting Standards Board (SASB) Standards' metrics

    May 30, 2023 WebPage Regulatory News
    News

    OSFI to Review Liquidity Adequacy Guidelines and Policy Architecture

    The Office of the Superintendent of Financial Institutions (OSFI) is consulting, until June 21, 2023, on a review of the liquidity treatment provided in the Liquidity Adequacy Requirements (LAR) Guideline for wholesale funding sources with retail-like characteristics.

    May 30, 2023 WebPage Regulatory News
    News

    ESRB Publishes Report on Cryptos and DeFi; ECB Updates on Digital Euro

    The European Systemic Risk Board (ESRB) published a report that outlines the systemic implications of crypto markets and proposes policy options to address the risks stemming from crypto-assets and decentralized finance or DeFi.

    May 26, 2023 WebPage Regulatory News
    News

    EU Agencies Issue Updates on DORA, ESAP, and Crowdfunding Regulation

    The European Supervisory Authorities (ESAs) published a discussion paper on their joint advice to the European Commission (EC) on proposals to specify criteria for critical information and communication technology (ICT) third-party service providers

    May 26, 2023 WebPage Regulatory News
    News

    ESAs Propose ESG Disclosure on STS Securitization, Issue Other Updates

    The Joint Committee of the three European Supervisory Authorities (ESAs) proposed to amend the Implementing Regulation 2016/1799 on the mapping of External Credit Assessment Institutions' (ECAIs) credit assessments.

    May 26, 2023 WebPage Regulatory News
    News

    UK Authorities Issue Updates, Finalize Policy on Model Risk Management

    The Prudential Regulation Authority (PRA) finalized the model risk management principles for banks, the policy statement PS5/23 on risks from contingent leverage, and PS4/23 on moving senior managers regime forms from the PRA Rulebook.

    May 25, 2023 WebPage Regulatory News
    News

    APRA Revises Implementation Timeline for Operational Risk Standard

    The Australian Prudential Regulation Authority (APRA) updated the implementation date of the new cross-industry prudential standard CPS 230 on operational risk management

    May 25, 2023 WebPage Regulatory News
    News

    BCBS Consults on Basel FAQs and Amendments, Issues Other Updates

    The Basel Committee on Banking Supervision (BCBS) published a report assessing implementation of the global Basel standards on net stable funding ratio (NSFR) and large exposures (LEX) in South Africa

    May 25, 2023 WebPage Regulatory News
    News

    EBA Announces Multiple Regulatory and Reporting Updates in April 2023

    The European Banking Authority (EBA) published consultations on the amendments to the guidelines on risk-based anti-money laundering and countering the financing of terrorism (AML/CFT) supervision

    May 24, 2023 WebPage Regulatory News
    RESULTS 1 - 10 OF 8913