16484 Federal Register / Vol. 77, No. 55 / Wednesday, March 21, 2012 / Proposed Rules 

1See 77 FR 3408 (Jan. 24, 2012). 2 Dodd-Frank Wall Street Reform and Consumer 

Protection Act, Public Law 111–203, 124 Stat. 1376 

(2010). 3 12 U.S.C. 5365(i)(2)(C). 

4See 77 FR 3408 (Jan. 24, 2012). 5See 77 FR 594 (Jan. 5, 2012). 6See 77 FR 13513 (March 7, 2012). 

7 12 U.S.C. 5365(i)(2)(C). 

8See 77 FR 3408, 3412 (Jan. 24, 2012); 77 FR 594, 

632 (Jan. 5, 2012); 77 FR 3166, 3168 (Jan. 23, 2012). 

1 Dodd-Frank Wall Street Reform and Consumer 

Protection Act, Public Law 111–203, 124 Stat. 1376 

(2010). 

For the Nuclear Regulatory Commission. 

R.W. Borchardt, 

Executive Director for Operations. 

[FR Doc. 2012–6843 Filed 3–20–12; 8:45 am] 

BILLING CODE 7590–01–P 

DEPARTMENT OF THE TREASURY 

Office of the Comptroller of the 

Currency 

12 CFR Part 46 

[Docket ID OCC–2011–0029] 

RIN 1557–AD58 

Annual Stress Test 

AGENCY: Office of the Comptroller of the 

Currency, Treasury (‘‘OCC’’). 

ACTION: Proposed rule; extension of 

comment period. 

SUMMARY: On January 24, 2012, the OCC 

published in the Federal Register a 

notice of proposed rulemaking (NPRM) 

to implement section 165(i) of the DoddFrank Wall Street Reform and Consumer 

Protection Act (Dodd-Frank Act). The 

proposed rule would require national 

banks and Federal savings associations 

with total consolidated assets of more 

than $10 billion to conduct an annual 

stress test and comply with certain 

reporting and disclosure requirements. 

To allow parties more time to 

consider the impact of the proposed 

rule, and so that the comment period on 

the proposed rule will run concurrently 

with the comment period for a 

comparable rule proposed by the Board 

of Governors of the Federal Reserve 

System (Board), the OCC has 

determined that an extension of the 

comment period until April 30, 2012 is 

appropriate. This action will allow 

interested persons additional time to 

analyze the proposed rule and prepare 

their comments. 

DATES: Comments on the proposed rule 

must be received on or before April 30, 

2012. 

ADDRESSES: You may submit comments 

by any of the methods identified in the 

proposed rule. Please submit your 

comments using only one method. 

FOR FURTHER INFORMATION CONTACT: 

Robert Scavotto, Lead International 

Expert, International Analysis and 

Banking Condition (202) 874–4943, 

Tanya Smith, Lead Expert, Regulatory 

Capital and Operational Risk (202) 874– 

4464, Akhtarur Siddique, Deputy 

Director, Enterprise Risk Analysis 

Division (202) 874–4665, Ron 

Shimabukuro, Senior Counsel, or 

Alexandra Arney, Attorney, Legislative 

and Regulatory Activities Division (202) 

874–6104, Office of the Comptroller of 

the Currency, 250 E Street SW., 

Washington, DC 20219. 

SUPPLEMENTARY INFORMATION: On 

January 24, 2012, the OCC published a 

proposed rule in the Federal Register 

(proposed rule) 1 to implement stress 

testing requirements in section 165(i) of 

the Dodd-Frank Wall Street Reform and 

Consumer Protection Act (Dodd-Frank 

Act).2 Section 165(i) requires certain 

financial companies, including national 

banks and Federal savings associations, 

with total consolidated assets in excess 

of $10 billion to conduct annual stress 

tests pursuant to regulations prescribed 

by their respective Federal primary 

financial regulatory agencies. The 

Federal primary financial regulatory 

agency is required to define ‘‘stress 

test,’’ establish methodologies for the 

conduct of the stress test that must 

include at least three different sets of 

conditions (baseline, adverse, and 

severely adverse), establish the form and 

content of the report that institutions are 

required to submit, and require the 

institution to publish a summary of the 

results of the institutional stress tests.3

In recognition of the complexities of 

the rulemaking and the variety of 

considerations involved in its impact 

and implementation, the OCC requested 

that commenters respond to numerous 

questions. The proposed rule stated that 

the public comment period would close 

on March 26, 2012.4

The OCC believes that it is important 

to allow interested parties more time to 

consider the impact of the proposed rule 

and respond to the questions asked in 

the NPRM. Additionally, the OCC 

believes that the comment period for the 

proposed rule should run concurrently 

with a similar rule by the Board of 

Governors of the Federal Reserve 

System (Board). The Board published its 

proposed rule implementing the stress 

testing requirements of section 165(i) of 

the Dodd-Frank Act on January 5, 2012 

with the comment period closing on 

March 31, 2012.5 The Board recently 

extended the comment period until 

April 30.6 Section 165(i)(2)(C) directs 

each Federal primary financial 

regulatory agency to issue ‘‘consistent 

and comparable’’ regulations to 

implement the Act’s annual stress 

testing requirements.7 Moreover, as 

noted in the preambles to the proposed 

rules, the Federal banking agencies 

generally intend to coordinate the 

development of the scenarios that will 

be used for annual stress tests 

performed pursuant to each agency’s 

regulations.8 Therefore, the OCC 

believes that the Annual Stress Test 

proposed rule should be considered as 

part of a coordinated effort by the 

Federal banking agencies to implement 

the annual stress testing requirements of 

the Dodd-Frank Act. For these reasons, 

the OCC is extending the deadline for 

submitting comments on the proposed 

rule from March 26, 2012 to April 30, 

2012. 

Dated: March 15, 2012. 

John Walsh, 

Acting Comptroller of the Currency. 

[FR Doc. 2012–6811 Filed 3–20–12; 8:45 am] 

BILLING CODE P 

FEDERAL DEPOSIT INSURANCE 

CORPORATION 

12 CFR Part 325 

RIN 3064–AD91 

Annual Stress Test 

AGENCY: Federal Deposit Insurance 

Corporation (FDIC). 

ACTION: Proposed rule; extension of 

comment period. 

SUMMARY: On January 23, 2012, the FDIC 

published in the Federal Register a 

notice of proposed rulemaking for 

public comment to implement the 

requirements in Section 165(i)(2) of the 

Dodd-Frank Wall Street Reform and 

Consumer Protection Act (the ‘‘DoddFrank Act’’) 1 by requiring state 

nonmember banks and state savings 

associations supervised by the 

Corporation with total consolidated 

assets of more than $10 billion to 

conduct annual stress tests. 

Due to the scope and complexity of 

the rulemaking, the FDIC has 

determined that an extension of the 

comment period until April 30, 2012, is 

appropriate. This action will allow 

interested persons additional time to 

analyze the proposed rules and to 

prepare their comments. 

DATES: Comments on the proposed rule 

must be received on or before April 30, 

2012. 

ADDRESSES: You may submit comments 

by any of the methods identified in the 


srobinson on DSK4SPTVN1PROD with PROPOSALS
Federal Register / Vol. 77, No. 55 / Wednesday, March 21, 2012 / Proposed Rules 16485 

2See 77 FR 3166 (January 23, 2012). 

3See id. 

4See id. 

proposed rule.2 Please submit your 

comments using only one method. 

FOR FURTHER INFORMATION CONTACT: 

George French, Deputy Director, Policy, 

(202) 898–3929, Robert Burns, Associate 

Director, Mid-Tier Bank Branch, (202) 

898–3905, or Karl R. Reitz, Senior 

Capital Markets Specialist, (202) 898– 

6775, Division of Risk Management and 

Supervision; Mark G. Flanigan, Counsel, 

(202) 898–7426, or Ryan K. Clougherty, 

Senior Attorney, (202) 898–3843, Legal 

Division, Federal Deposit Insurance 

Corporation, 550 17th Street NW., 

Washington, DC 20429. 

SUPPLEMENTARY INFORMATION: On 

January 23, 2012, the proposed rule was 

published in the Federal Register.3 The 

proposed rule implements section 

165(i)(2) of the Dodd-Frank Act which 

requires the Corporation to issue 

regulations that require FDIC-insured 

state nonmember banks and FDICinsured state-chartered savings 

associations with total consolidated 

assets of more than $10 billion 

(‘‘covered banks’’) to conduct annual 

stress tests (‘‘bank-run stress tests’’). The 

proposed rule defines the term ‘‘stress 

test’’ for purposes of the regulations; 

establishes methodologies for the 

conduct of the stress tests; establishes 

the form and content of a required 

report on the stress tests that banks must 

submit to the Corporation; and requires 

covered banks to publish a summary of 

the results of the required stress tests. 

In recognition of the complexities of 

the rulemaking and the variety of 

considerations involved in its impact 

and implementation, the FDIC requested 

that commenters respond to questions 

in the proposed rule. The proposed rule 

stated that the public comment period 

would close on March 23, 2012.4

The FDIC has received requests from 

the public for an extension of the 

comment period. The FDIC believes that 

it is important to allow parties more 

time to consider the impact of the 

proposed rule, and that such an 

extension will facilitate further public 

comment on the proposed rule. 

Therefore, the FDIC is extending the 

deadline for submitting comments on 

the proposed rule from March 23, 2012, 

to April 30, 2012. 

Dated at Washington, DC, this 16th day of 

March 2012. 

Federal Deposit Insurance Corporation. 

Robert E. Feldman, 

Executive Secretary. 

[FR Doc. 2012–6799 Filed 3–20–12; 8:45 am] 

BILLING CODE 6714–01–P 

FARM CREDIT ADMINISTRATION 

12 CFR Parts 611, 612, 619, 620 and 

630 

RIN 3052–AC41 

Compensation, Retirement Programs, 

and Related Benefits 

AGENCY: Farm Credit Administration. 

ACTION: Proposed rule; extension of 

comment period. 

SUMMARY: The Farm Credit 

Administration (FCA, us, we, or our) 

published a proposed rule to amend our 

regulations related to Farm Credit 

System (System) bank and association 

disclosures to shareholders and 

investors. The proposed rule would 

require enhanced reporting of senior 

officer compensation and retirement 

programs and reporting to shareholders 

of significant events that occur between 

annual reporting periods. The proposed 

rule would also identify the minimum 

responsibilities a compensation 

committee must perform and require 

that System banks and associations 

provide for a nonbinding, advisory vote 

on senior officer compensation. To 

allow interested parties additional time 

to submit comments, we are extending 

the comment period on the proposed 

rule from March 23, 2012 to April 16, 

2012. 

DATES: Comments on the proposed rule 

must be submitted on or before April 16, 

2012. 

ADDRESSES: We offer a variety of 

methods for you to submit your 

comments. For accuracy and efficiency 

reasons, commenters are encouraged to 

submit comments by email or through 

the FCA’s Web site. As facsimiles (fax) 

are difficult for us to process and 

achieve compliance with section 508 of 

the Rehabilitation Act, we no longer 

accept comments submitted by fax. 

Regardless of the method you use, 

please do not submit your comments 

multiple times via different methods. 

You may submit comments by any of 

the following methods: 

• Email: Send an email to regcomm@fca.gov. 

• FCA Web site: http://www.fca.gov. 

Select ‘‘Public Commenters,’’ then 

‘‘Public Comments,’’ and follow the 

directions for ‘‘Submitting a Comment.’’ 

• Federal eRulemaking Portal: http:// 

www.regulations.gov. Follow the 

instructions for submitting comments. 

• Mail: Gary K. Van Meter, Director, 

Office of Regulatory Policy, Farm Credit 

Administration, 1501 Farm Credit Drive, 

McLean, VA 22102–5090. 

You may review copies of all 

comments we receive at our office in 

McLean, Virginia or on our Web site at 

http://www.fca.gov. Once you are in the 

Web site, select ‘‘Public Commenters,’’ 

then ‘‘Public Comments,’’ and follow 

the directions for ‘‘Reading Submitted 

Public Comments.’’ We will show your 

comments as submitted, including any 

supporting data provided, but for 

technical reasons we may omit items 

such as logos and special characters. 

Identifying information that you 

provide, such as phone numbers and 

addresses, will be publicly available. 

However, we will attempt to remove 

email addresses to help reduce Internet 

spam. 

FOR FURTHER INFORMATION CONTACT: 

Deborah Wilson, Senior Accountant, 

Office of Regulatory Policy, Farm 

Credit Administration, McLean, VA 

22102–5090, (703) 883–4414, TTY 

(703) 883–4434, or 

Laura McFarland, Senior Counsel, 

Office of General Counsel, Farm 

Credit Administration, McLean, VA 

22102–5090, (703) 883–4020, TTY 

(703) 883–4020. 

SUPPLEMENTARY INFORMATION: On 

January 23, 2012, the FCA published a 

proposed rule in the Federal Register 

seeking public comment on proposed 

changes to senior officer compensation 

disclosures and related topics. See 77 

FR 3172. The comment period is 

scheduled to close on March 23, 2012. 

The FCA received several letters in 

response to the proposed rule requesting 

we extend the comment period by 60 

days. Many of the commenters 

explained that the proposed rule was 

published while System institutions 

were fully engaged in completion of 

their annual reports. The commenters 

emphasized that System institutions 

have significant interest in the proposed 

rule and were, therefore, requesting 

more time to evaluate and comment in 

a thoughtful and coordinated manner. 

The FCA supports public involvement 

and participation in its regulatory 

process and invites all interested parties 

to review and comment on our proposed 

rule. We balanced the request for more 

time against the fact that most of the 

issues in the proposed rule were 

previously subject to a 120-day 

comment period under an Advance 

Notice of Proposed Rulemaking (75 FR 

70619, November 18, 2010). We also 

considered that a related proposed rule 

on the System Audit Committee (77 FR 

8179, February 14, 2012) has a comment 

period closing April 16. As a result, we 

are extending the comment period 24 

days instead of the requested 60 days to 

coincide with the related proposed rule. 


srobinson on DSK4SPTVN1PROD with PROPOSALS