US Agencies Publish Notice to Extend Form FFIEC 102 for Three Years
US Agencies (FDIC, FED, and OCC) published a joint notice regarding extension of the market risk regulatory report for institutions subject to the market risk capital rule (FFIEC 102). On June 25, 2019, the agencies, under the auspices of FFIEC, had issued a proposal to extend for three years without revision FFIEC 102, which is currently an approved collection of information for each agency. The comment period for the June 2019 notice ended on August 26, 2019. No comments were received on the proposal; therefore, FFIEC and the agencies will proceed with the extension of the FFIEC 102 as proposed. The agencies are now giving notice that they are sending the collections to OMB for review and the comment period for this notice ends on November 18, 2019.
FFIEC 102 is filed quarterly with the agencies and provides information for market risk institutions, defined for this purpose as the institutions that are subject to the market risk capital rule as incorporated into Subpart F of the agencies' regulatory capital rule (market risk institutions). Each market risk institution is required to file FFIEC 102 for the agencies' use in assessing the reasonableness and accuracy of an institution's calculation of its minimum capital requirements under the market risk capital rule and in evaluating the institution's capital in relation to its risks. Additionally, the market risk information collected in the FFIEC 102:
- Permits the agencies to monitor the market risk profile and evaluate the impact and competitive implications of the market risk capital rule on individual market risk institutions and the industry as a whole
- Provides the most current statistical data available to identify areas of market risk on which to focus for onsite and offsite examinations
- Allows the agencies to assess and monitor the levels and components of each reporting institution's risk-based capital requirements for market risk and the adequacy of the institution's capital under the market risk capital rule
- Assists market risk institutions in validating their implementation of the market risk framework
Related Links
Comment Due Date: November 18, 2019
Keywords: Americas, US, Banking, Market Risk, Market Risk Capital Rule, FFIEC 102, Reporting, Regulatory Capital, FFIEC, US Agencies
Featured Experts
María Cañamero
Skilled market researcher; growth strategist; successful go-to-market campaign developer
Nicolas Degruson
Works with financial institutions, regulatory experts, business analysts, product managers, and software engineers to drive regulatory solutions across the globe.
Patrycja Oleksza
Applies proficiency and knowledge to regulatory capital and reporting analysis and coordinates business and product strategies in the banking technology area
Previous Article
IASB Publishes November Issue of the Investor UpdateRelated Articles
ISSB Sustainability Standards Expected to Become Global Baseline
The finalization of the two sustainability disclosure standards—IFRS S1 and IFRS S2—is expected to be a significant step forward in the harmonization of sustainability disclosures worldwide.
IOSCO, BIS, and FSB to Intensify Focus on Decentralized Finance
Decentralized finance (DeFi) is expected to increase in prominence, finding traction in use cases such as lending, trading, and investing, without the intermediation of traditional financial institutions.
BCBS Assesses NSFR and Large Exposures Rules in US
The Basel Committee on Banking Supervision (BCBS) published reports that assessed the overall implementation of the net stable funding ratio (NSFR) and the large exposures rules in the U.S.
Global Agencies Focus on ESG Data, Climate Litigation and Nature Risks
At the global level, supervisory efforts are increasingly focused on addressing climate risks via better quality data and innovative use of technologies such as generative artificial intelligence (AI) and blockchain.
ISSB Standards Shine Spotlight on Comparability of ESG Disclosures
The finalization of the IFRS sustainability disclosure standards in late June 2023 has brought to the forefront the themes of the harmonization of sustainability disclosures
EBA Issues Several Regulatory and Reporting Updates for Banks
The European Banking Authority (EBA) recently issued several regulatory publications impacting the banking sector.
BCBS Proposes to Revise Core Principles for Banking Supervision
The Basel Committee on Banking Supervision (BCBS) launched a consultation on revisions to the core principles for effective banking supervision, with the comment period ending on October 06, 2023.
US Proposes Final Basel Rules, Transition Period to Start in July 2025
The U.S. banking agencies (FDIC, FED, and OCC) recently proposed rules implementing the final Basel III reforms, also known as the Basel III Endgame.
FSB Report Outlines Next Steps for Climate Risk Roadmap
The Financial Stability Board (FSB) recently published the second annual progress report on the July 2021 roadmap to address climate-related financial risks.
EBA Plans on Ad-hoc ESG Data Collection and Climate Scenario Exercise
The recognition of climate change as a systemic risk to the global economy has further intensified regulatory and supervisory focus on monitoring of the environmental, social, and governance (ESG) risks.
