[Federal Register Volume 89, Number 209 (Tuesday, October 29, 2024)]
[Notices]
[Pages 86079-86081]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-25037]


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DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency


Agency Information Collection Activities: Revision of an Approved 
Information Collection; Comment Request; Company-Run Annual Stress Test 
Reporting Template and Documentation for Covered Institutions With 
Total Consolidated Assets of $250 Billion or More Under the Dodd-Frank 
Wall Street Reform and Consumer Protection Act

AGENCY: Office of the Comptroller of the Currency (OCC), Treasury.

ACTION: Notice and request for comment.

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SUMMARY: The OCC, as part of its continuing effort to reduce paperwork 
and respondent burden, invites comment on a continuing information 
collection, as required by the Paperwork Reduction Act of 1995 (PRA). 
In accordance with the requirements of the PRA, the OCC may not conduct 
or sponsor, and the respondent is not required to respond to, an 
information collection unless it displays a currently valid Office of 
Management and Budget (OMB) control number. The OCC is soliciting 
comment concerning a revision to its information collection titled 
``Company-Run Annual Stress Test Reporting Template and Documentation 
for Covered Institutions with Total Consolidated Assets of $250 Billion 
or More under the Dodd-Frank Wall Street Reform and Consumer Protection 
Act''

DATES: Comments must be received by December 30, 2024.

ADDRESSES: Commenters are encouraged to submit comments by email, if 
possible. You may submit comments by any of the following methods:
    <bullet> Email: <a href="/cdn-cgi/l/email-protection#572725363e3931381738343479232532362479303821"><span class="__cf_email__" data-cfemail="0b7b796a62656d644b646868257f796e6a78256c647d">[email protected]</span></a>.
    <bullet> Mail: Chief Counsel's Office, Attention: Comment 
Processing, Office of the Comptroller of the Currency, Attention: 1557-
0319, 400 7th Street SW, Suite 3E-218, Washington, DC 20219.
    <bullet> Hand Delivery/Courier: 400 7th Street SW, Suite 3E-218, 
Washington, DC 20219.
    <bullet> Fax: (571) 293-4835.
    Instructions: You must include ``OCC'' as the agency name and 
``1557-

[[Page 86080]]

0319'' in your comment. In general, the OCC will publish comments on 
www.reginfo.gov without change, including any business or personal 
information provided such as name and address information, email 
addresses, or phone numbers. Comments received, including attachments 
and other supporting materials, are part of the public record and 
subject to public disclosure. Do not include any information in your 
comment or supporting materials that you consider confidential or 
inappropriate for public disclosure.
    Following the close of this notice's 60-day comment period, the OCC 
will publish a second notice with a 30-day comment period. You may 
review comments and other related materials that pertain to this 
information collection beginning on the date of publication of the 
second notice for this collection by the method set forth in the next 
bullet.
    <bullet> Viewing Comments Electronically: Go to www.reginfo.gov. 
Hover over the ``Information Collection Review'' tab and click on 
``Information Collection Review'' from the drop-down menu. From the 
``Currently under Review'' drop-down menu, select ``Department of 
Treasury'' and then click ``submit.'' This information collection can 
be located by searching OMB control number ``1557-0319'' or ``Company-
Run Annual Stress Test Reporting Template and Documentation for Covered 
Institutions with Total Consolidated Assets of $250 Billion or More 
under the Dodd-Frank Wall Street Reform and Consumer Protection Act.'' 
Upon finding the appropriate information collection, click on the 
related ``ICR Reference Number.'' On the next screen, select ``View 
Supporting Statement and Other Documents'' and then click on the link 
to any comment listed at the bottom of the screen.
    <bullet> For assistance in navigating www.reginfo.gov, please 
contact the Regulatory Information Service Center at (202) 482-7340.

FOR FURTHER INFORMATION CONTACT: Shaquita Merritt, Clearance Officer, 
(202) 649-5490, Chief Counsel's Office, Office of the Comptroller of 
the Currency, 400 7th Street SW, Washington, DC 20219. If you are deaf, 
hard of hearing, or have a speech disability, please dial 7-1-1 to 
access telecommunications relay services.

SUPPLEMENTARY INFORMATION: Under the PRA (44 U.S.C. 3501 et seq.), 
Federal agencies must obtain approval from the OMB for each collection 
of information that they conduct or sponsor. ``Collection of 
information'' is defined in 44 U.S.C. 3502(3) and 5 CFR 1320.3(c) to 
include agency requests or requirements that members of the public 
submit reports, keep records, or provide information to a third party. 
Section 3506(c)(2)(A) of title 44 generally requires Federal agencies 
to provide a 60-day notice in the Federal Register concerning each 
proposed collection of information, including each proposed extension 
of an existing collection of information, before submitting the 
collection to OMB for approval. To comply with this requirement, the 
OCC is publishing notice of the revision of this collection.
    Title: ``Company-Run Annual Stress Test Reporting Template and 
Documentation for Covered Institutions with Total Consolidated Assets 
of $250 Billion or More under the Dodd-Frank Wall Street Reform and 
Consumer Protection Act.''
    OMB Control No.: 1557-0319.
    Type of Review: Revision.
    Affected Public: Businesses or other for-profit.
    Description: Section 165(i)(2) of the Dodd-Frank Wall Street Reform 
and Consumer Protection Act \1\ (Dodd-Frank Act) requires certain 
financial companies, including national banks and federal savings 
associations, to conduct annual stress tests \2\ and requires the 
primary financial regulatory agency \3\ of those financial companies to 
issue regulations implementing the stress test requirements.\4\ Under 
section 165(i)(2), a covered institution is required to submit to the 
Board of Governors of the Federal Reserve System (Board) 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.\5\
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    \1\ Public Law 111-203, 124 Stat. 1376, July 2010.
    \2\ 12 U.S.C. 5365(i)(2)(A).
    \3\ 12 U.S.C. 5301(12).
    \4\ 12 U.S.C. 5365(i)(2)(C).
    \5\ 12 U.S.C. 5365(i)(2)(B).
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    On October 9, 2012, the OCC published in the Federal Register a 
final rule implementing the section 165(i)(2) annual stress test 
requirement.\6\ This rule describes the reports and information 
collections required to meet the reporting requirements under section 
165(i)(2). These information collections will be treated as 
confidential (to the extent permitted by law.\7\
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    \6\ 77 FR 61238 (October 9, 2012) (codified at 12 CFR part 46).
    \7\ 5 U.S.C. 552(b)(4).
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    In 2012, the OCC first implemented the reporting templates 
referenced in the final rule.\8\ The OCC uses the data collected to 
assess the reasonableness of the stress test results of covered 
institutions and to provide forward-looking information to the OCC 
regarding a covered institution's capital adequacy. The OCC also may 
use the results of the stress tests to determine whether additional 
analytical techniques and exercises could be appropriate to identify, 
measure, and monitor risks at the covered institution. The stress test 
results are expected to support ongoing improvement in a covered 
institution's stress testing practices with respect to its internal 
assessments of capital adequacy and overall capital planning.
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    \8\ See 77 FR 49485 (August 16, 2012) and 77 FR 66663 (November 
6, 2012).
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    The OCC recognizes that many covered institutions with total 
consolidated assets of $250 billion or more are required to submit 
reports using reporting form FR Y-14A.\9\ The OCC also recognizes the 
Board has proposed modifications to the FR Y-14A and, to the extent 
practical, the OCC will keep its reporting requirements consistent with 
the Board's FR Y-14A in order to minimize burden on covered 
institutions.\10\
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    \9\ http://www.federalreserve.gov/reportforms.
    \10\ 89 FR 52042 (June 21, 2024).
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    The OCC's proposed changes include only limited updates to reflect 
the changes made by the Board, and the proposed OCC reporting forms 
will substantially resemble the forms used by the OCC last year. The 
OCC's proposed changes include removing the CECL Supplemental Schedule 
from the reporting instructions. The CECL Supplemental Schedule was a 
one-time schedule that reporting banks provided the during the first 
submission cycle following their implementation of the ASU 2016-13 
standards. This collection was implemented to identify the effect and 
timing of the adoption of CECL and the associated transition 
provisions, as provided by section 301 of the regulatory capital rules. 
As all firms have now adopted ASU 2016-13, this supplemental collection 
is not needed on a going-forward basis for modeling or analytical 
purposes. The proposed changes also include a small number of revisions 
that do not stem from revisions proposed by the Board. These include 
minor corrections and eliminating references to LIBOR, which is no 
longer a reference rate, in the instructions.
    If the Board proposes additional changes to the FR Y-14A reporting 
forms after the publication of this notice, the OCC expects to make

[[Page 86081]]

corresponding changes to the OCC reporting forms to minimize 
inconsistencies and reduce burden. The OCC's proposed new reporting 
forms and instructions are available on the OCC's website at https://www.occ.treas.gov/publications-and-resources/forms/dodd-frank-act-stress-test/index-dodd-frank-act-stress-test.html.

Estimated Burden

    Estimated Frequency of Response: On occasion.
    Estimated Number of Respondents: 4 annually and 4 biennially.
    Estimated Total Annual Burden: 3,558 hours.
    Comments submitted in response to this notice will be summarized 
and included in the request for OMB approval. All comments will become 
a matter of public record. Comments are invited on:
    (a) Whether the collection of information is necessary for the 
proper performance of the functions of the OCC, including whether the 
information has practical utility;
    (b) The accuracy of the OCC's estimate of the burden of the 
collection of information;
    (c) Ways to enhance the quality, utility, and clarity of the 
information to be collected;
    (d) Ways to minimize the burden of the collection on respondents, 
including through the use of automated collection techniques or other 
forms of information technology; and
    (e) Estimates of capital or start-up costs and costs of operation, 
maintenance, and purchase of services to provide information.

Patrick T. Tierney,
Assistant Director, Office of the Comptroller of the Currency.
[FR Doc. 2024-25037 Filed 10-28-24; 8:45 am]
BILLING CODE 4810-33-P


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