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, 52174-52176 [2019-21211]

Download as PDF 52174 Federal Register / Vol. 84, No. 190 / Tuesday, October 1, 2019 / Notices Written comments on this notice should be submitted by December 2, 2019. DATES: You may submit comments identified by Docket No. DOT–OST– 2003–15962 by any of the following methods: • Website: http://www.regulations .gov. Follow the instructions for submitting comments on the DOT electronic docket site. • Fax: 1–202–493–2251. • Mail or Hand Delivery: Docket Operations Office, U.S. Department of Transportation, 1200 New Jersey Avenue SE, West Building, Room W12– 140, Washington, DC 20590, between 9 a.m. and 5 p.m., Monday through Friday, except Federal Holidays. FOR FURTHER INFORMATION CONTACT: Barbara Snoden, (202) 366–4834, Office of Aviation Analysis, Office of the Secretary, U.S. Department of Transportation, 1200 New Jersey Avenue SE, Washington, DC 20590. SUPPLEMENTARY INFORMATION: OMB Control Number: 2106–0023. Title: Procedures and Evidence Rules for Air Carrier Authority Applications: 14 CFR part 201—Air Carrier Authority under Subtitle VII of Title 49 of the United States Code—(Amended); 14 CFR part 204—Data to Support Fitness Determinations; 14 CFR part 291—Cargo Operations in Interstate Air Transportation. Type of Review: Reinstatement with changes of a previously approved information collection. Background: To determine the fitness of persons seeking authority to engage in air transportation, the Department collects information from them about their ownership, citizenship, managerial competence, operating proposal, financial condition, and compliance history. The specific information to be filed by respondents is set forth in 14 CFR parts 201 and 204. Respondents: Persons seeking initial or continuing authority to engage in air transportation of persons, property, and/ or mail. Estimated Number of Respondents: 76. Frequency of Collection: Occasional. Estimated Number of Responses: 228. Average Annual Burden per Respondent: 45 hours. Estimated Total Burden on Respondents: 8,250 hours. Public Comments Invited: You are asked to comment on any aspect of this information collection, including (a) Whether the proposed collection of information is necessary for the Department’s performance; (b) the accuracy of the estimated burden; (c) jbell on DSK3GLQ082PROD with NOTICES ADDRESSES: VerDate Sep<11>2014 18:10 Sep 30, 2019 Jkt 250001 ways for the Department to enhance the quality, utility and clarity of the information collection; and (d) ways that the burden could be minimized without reducing the quality of the collected information. The agency will summarize and/or include your comments in the request for OMB’s clearance of this information collection. (Authority: The Paperwork Reduction Act of 1995; 44 U.S.C. Chapter 35, as amended; and 49 CFR 1:48). Issued in Washington, DC, on September 25, 2019. Lauralyn J. Remo, Chief, Air Carrier Fitness Division, Office of Aviation Analysis. [FR Doc. 2019–21272 Filed 9–30–19; 8:45 am] BILLING CODE 4910–9X–P 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 Office of the Comptroller of the Currency, Treasury (OCC). ACTION: Notice and request for comment. AGENCY: SUMMARY: The OCC, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other federal agencies to take this opportunity to 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 a regulatory reporting requirement for national banks and federal savings associations 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 2, 2019. PO 00000 Frm 00115 Fmt 4703 Sfmt 4703 Commenters are encouraged to submit comments by email, if possible. You may submit comments by any of the following methods: • Email: prainfo@occ.treas.gov. • Mail: Chief Counsel’s Office, Attention: Comment Processing, 1557– 0319, Office of the Comptroller of the Currency, 400 7th Street SW, Suite 3E– 218, Washington, DC 20219. • Hand Delivery/Courier: 400 7th Street SW, Suite 3E–218, Washington, DC 20219. • Fax: (571) 465–4326. Instructions: You must include ‘‘OCC’’ as the agency name and ‘‘1557– 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. 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 1 by any of the following methods: • Viewing Comments Electronically: Go to www.reginfo.gov. Click on the ‘‘Information Collection Review’’ tab. Underneath the ‘‘Currently under Review’’ section heading, from the dropdown menu, select ‘‘Department of Treasury’’ and then click ‘‘submit.’’ This information collection can be located by searching by OMB control number ‘‘1557–0319’’ or ‘‘Company-Run Annual Stress Test Reporting Template and Documentation for Covered Institutions with Total Consolidated Assets of $100 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. • For assistance in navigating www.reginfo.gov, please contact the Regulatory Information Service Center at (202) 482–7340. • Viewing Comments Personally: You may personally inspect comments at the ADDRESSES: 1 Following the close of this notice’s 60-day comment period, the OCC will publish a second notice with a 30-day comment period. E:\FR\FM\01OCN1.SGM 01OCN1 Federal Register / Vol. 84, No. 190 / Tuesday, October 1, 2019 / Notices jbell on DSK3GLQ082PROD with NOTICES OCC, 400 7th Street SW, Washington, DC. For security reasons, the OCC requires that visitors make an appointment to inspect comments. You may do so by calling (202) 649–6700 or, for persons who are deaf or hearing impaired, TTY, (202) 649–5597. Upon arrival, visitors will be required to present valid government-issued photo identification and submit to security screening in order to inspect comments. FOR FURTHER INFORMATION CONTACT: Shaquita Merritt, (202) 649–5490 or, for persons who are deaf or hearing impaired, TTY, (202) 649–5597, Chief Counsel’s Office, Office of the Comptroller of the Currency, 400 7th St. SW, Washington, DC 20219. In addition, copies of the templates referenced in this notice can be found on the OCC’s website under News and Issuances (http://www.occ.treas.gov/tools-forms/ forms/bank-operations/stress-testreporting.html). SUPPLEMENTARY INFORMATION: The OCC is requesting comment on the following revision to an approved information 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. Description: Section 165(i)(2) of the Dodd-Frank Wall Street Reform and Consumer Protection Act 2 (Dodd-Frank Act) requires certain financial companies, including national banks and federal savings associations, to conduct annual stress tests 3 and requires the primary financial regulatory agency 4 of those financial companies to issue regulations implementing the stress test requirements.5 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.6 On October 9, 2012, the OCC published in the Federal Register a final rule implementing the section 165(i)(2) annual stress test requirement.7 This rule describes the reports and 2 Public Law 111–203, 124 Stat. 1376, July 2010. 3 12 U.S.C. 5365(i)(2)(A). 4 12 U.S.C. 5301(12). 5 12 U.S.C. 5365(i)(2)(C). 6 12 U.S.C. 5365(i)(2)(B). 7 77 FR 61238 (October 9, 2012) (codified at 12 CFR part 46). VerDate Sep<11>2014 18:10 Sep 30, 2019 Jkt 250001 information collections required to meet the reporting requirements under section 165(i)(2). These information collections will be given confidential treatment (5 U.S.C. 552(b)(4)) to the extent permitted by law. The Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA), enacted on May 24, 2018, amends certain aspects of the companyrun stress testing requirement in section 165(i)(2) of the Dodd-Frank Act.8 Specifically, section 401 of EGRRCPA raises the minimum asset threshold for financial companies covered by the company-run stress testing requirement from $10 billion to $250 billion in total consolidated assets; revises the requirement that financial companies conduct stress tests on an ‘‘annual’’ basis and instead requires them to be ‘‘periodic’’; and no longer requires the OCC to provide an ‘‘adverse’’ stresstesting scenario, thus reducing the number of required stress test scenarios from three to two. The amendments made by section 401 of EGRRCPA applicable to depository institutions are effective on November 24, 2019. The OCC, in coordination with the Board and Federal Deposit Insurance Corporation, is in the process of revising its stress testing regulation to incorporate EGRRPCA’s amendments. On February 12, 2019, consistent with section 401 of EGRRCPA, the OCC published a notice of proposed rulemaking (proposed rule or proposal) in the Federal Register to amend the stress testing rule.9 The proposed rule would have revised the minimum threshold for banks to conduct stress tests from $10 billion to $250 billion, revised the frequency by which certain banks would be required to conduct stress tests from annually to biennially, and reduced the number of required stress testing scenarios from three to two by eliminating the requirement for an adverse scenario. The proposed rule would also have made certain additional technical and facilitating changes to the stress testing rule. In 2012, the OCC first implemented the reporting templates referenced in the final rule. See 77 FR 49485 (August 16, 2012) and 77 FR 66663 (November 6, 2012). The OCC intends to use the data collected to assess the reasonableness of the stress test results of covered institutions and to provide forwardlooking information to the OCC regarding a covered institution’s capital adequacy. The OCC also may use the 8 Public Law 115–174, 132 Stat. 1296–1368 (2018). 9 84 FR 3345 (February 12, 2019). PO 00000 Frm 00116 Fmt 4703 Sfmt 4703 52175 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. The OCC recognizes that many covered institutions with total consolidated assets of $250 billion or more are required to submit reports using Comprehensive Capital Analysis and Review (CCAR) reporting form FR Y–14A.10 The OCC also recognizes the Board has proposed to modify 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.11 Therefore, the OCC is proposing to revise its reporting requirements to mirror the Board’s proposed FR Y–14A for covered institutions with total consolidated assets of $250 billion or more. 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.12 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. Type of Review: Revision. Affected Public: Businesses or other for-profit. Estimated Number of Respondents: 8. Estimated Total Annual Burden: 5,088 hours. The OCC believes that the systems covered institutions use to prepare the FR Y–14 reporting templates to submit to the Board will also be used to prepare 10 http://www.federalreserve.gov/reportforms. 11 84 FR 37292 (July 31, 2019); 84 FR 37285 (July 31, 2019). 12 As discussed in the Supplementary Information section of the OCC’s final rule implementing CECL, an institution would reflect CECL in its stress testing reports in the year it adopts CECL. See 84 FR 4222 (February 14, 2019). E:\FR\FM\01OCN1.SGM 01OCN1 52176 Federal Register / Vol. 84, No. 190 / Tuesday, October 1, 2019 / Notices the reporting templates described in this notice. 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. Dated: September 24, 2019. Theodore J. Dowd, Deputy Chief Counsel, Office of the Comptroller of the Currency. [FR Doc. 2019–21211 Filed 9–30–19; 8:45 am] BILLING CODE 4810–33–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Form 8997 Internal Revenue Service (IRS), Treasury. ACTION: Notice and request for comments. AGENCY: SUMMARY: The Department of the Treasury, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995. Currently, the IRS is soliciting comments concerning New Form 8997 Initial and Annual Statements of Qualified Opportunity Fund (QOF) Investments. Written comments should be received on or before December 2, 2019 to be assured of consideration. ADDRESSES: Direct all written comments to Laurie Brimmer, Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC 20224. FOR FURTHER INFORMATION CONTACT: Requests for additional information or copies of the form and instructions jbell on DSK3GLQ082PROD with NOTICES DATES: VerDate Sep<11>2014 18:10 Sep 30, 2019 Jkt 250001 should be directed to Dionne McLeod, at (267) 941–6267, Internal Revenue Service, Room 3256, 600 Arch Street, Philadelphia, PA 19106, or through the internet at Dionne.a.McLeod@irs.gov. SUPPLEMENTARY INFORMATION: Title: Initial and Annual Statements of Qualified Opportunity Fund (QOF) Investments. OMB Number: 1545–xxxx. Form Number: Form 8997. Abstract: Form 8997 is filed by eligible taxpayers holding a qualified opportunity fund investment at any point during the tax year. Current Actions: The Tax Cuts and Jobs Act (TCJA), section 13823, added section 1400Z–1 to provide for the designation of certain low-income communities as qualified opportunity zones and added section 1400Z–2 to provide certain benefits for investments in these qualified opportunity zones through investment in qualified opportunity funds (QOFs). Taxpayers that invest in qualified opportunity zone property through a QOF can defer the recognition of certain gains. Form 8997 is provided by the IRS to accommodate new section 1400Z–2. It will be used by eligible taxpayers holding a qualified opportunity fund (QOF) investment to report their QOF investments and deferred gains. Type of Review: New Information Collection. Affected Public: individuals; C corporations, including regulated investment companies (RICs) and real estate investment trusts (REITs); partnerships; S corporations; trusts; and estates. Estimated Number of Respondents: 10,000. Estimated Time per Respondent: 1. Estimated Total Annual Burden Hours: 10,000. The following paragraph applies to all of the collections of information covered by this notice: An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless the collection of information displays a valid OMB control number. Books or records relating to a collection of information must be retained as long as their contents may become material in the administration of any internal revenue law. Generally, tax returns and tax return information are confidential, as required by 26 U.S.C. 6103. Request for Comments: Comments submitted in response to this notice will be summarized and/or included in the request for OMB approval. All comments will become a matter of public record. Comments are invited on: PO 00000 Frm 00117 Fmt 4703 Sfmt 4703 (a) Whether the collection of information is necessary for the proper performance of the functions of the agency, including whether the information shall have practical utility; (b) the accuracy of the agency’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 of information 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. Approved: September 26, 2019. Laurie Brimmer, Senior Tax Analyst. [FR Doc. 2019–21308 Filed 9–30–19; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Form 8995 Internal Revenue Service (IRS), Treasury. ACTION: Notice and request for comments. AGENCY: SUMMARY: The Internal Revenue Service, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995. Currently, the IRS is soliciting comments concerning Form 8995 Qualified Business Income Deduction Simplified Computation. DATES: Written comments should be received on or before December 2, 2019 to be assured of consideration. ADDRESSES: Direct all written comments to Laurie Brimmer, Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC 20224. FOR FURTHER INFORMATION CONTACT: Requests for additional information or copies of the form and instructions should be directed to Dionne McLeod, at (267) 941–6267, Internal Revenue Service, Room 3256, 600 Arch Street, Philadelphia, PA 19106. or through the internet at Dionne.a.McLeod@irs.gov SUPPLEMENTARY INFORMATION: Title: Qualified Business Income Deduction Simplified Computation. E:\FR\FM\01OCN1.SGM 01OCN1

Agencies

[Federal Register Volume 84, Number 190 (Tuesday, October 1, 2019)]
[Notices]
[Pages 52174-52176]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-21211]


=======================================================================
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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, Treasury (OCC).

ACTION: Notice and request for comment.

-----------------------------------------------------------------------

SUMMARY: The OCC, as part of its continuing effort to reduce paperwork 
and respondent burden, invites the general public and other federal 
agencies to take this opportunity to 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 a regulatory 
reporting requirement for national banks and federal savings 
associations 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 2, 2019.

ADDRESSES: Commenters are encouraged to submit comments by email, if 
possible. You may submit comments by any of the following methods:
     Email: [email protected].
     Mail: Chief Counsel's Office, Attention: Comment 
Processing, 1557-0319, Office of the Comptroller of the Currency, 400 
7th Street SW, Suite 3E-218, Washington, DC 20219.
     Hand Delivery/Courier: 400 7th Street SW, Suite 3E-218, 
Washington, DC 20219.
     Fax: (571) 465-4326.
    Instructions: You must include ``OCC'' as the agency name and 
``1557-0319'' 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.
    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 \1\ by any of the following methods:
---------------------------------------------------------------------------

    \1\ Following the close of this notice's 60-day comment period, 
the OCC will publish a second notice with a 30-day comment period.
---------------------------------------------------------------------------

     Viewing Comments Electronically: Go to www.reginfo.gov. 
Click on the ``Information Collection Review'' tab. Underneath the 
``Currently under Review'' section heading, from the drop-down menu, 
select ``Department of Treasury'' and then click ``submit.'' This 
information collection can be located by searching by OMB control 
number ``1557-0319'' or ``Company-Run Annual Stress Test Reporting 
Template and Documentation for Covered Institutions with Total 
Consolidated Assets of $100 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.
     For assistance in navigating www.reginfo.gov, please 
contact the Regulatory Information Service Center at (202) 482-7340.
     Viewing Comments Personally: You may personally inspect 
comments at the

[[Page 52175]]

OCC, 400 7th Street SW, Washington, DC. For security reasons, the OCC 
requires that visitors make an appointment to inspect comments. You may 
do so by calling (202) 649-6700 or, for persons who are deaf or hearing 
impaired, TTY, (202) 649-5597. Upon arrival, visitors will be required 
to present valid government-issued photo identification and submit to 
security screening in order to inspect comments.

FOR FURTHER INFORMATION CONTACT: Shaquita Merritt, (202) 649-5490 or, 
for persons who are deaf or hearing impaired, TTY, (202) 649-5597, 
Chief Counsel's Office, Office of the Comptroller of the Currency, 400 
7th St. SW, Washington, DC 20219. In addition, copies of the templates 
referenced in this notice can be found on the OCC's website under News 
and Issuances (http://www.occ.treas.gov/tools-forms/forms/bank-operations/stress-test-reporting.html).

SUPPLEMENTARY INFORMATION: The OCC is requesting comment on the 
following revision to an approved information 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.
    Description: Section 165(i)(2) of the Dodd-Frank Wall Street Reform 
and Consumer Protection Act \2\ (Dodd-Frank Act) requires certain 
financial companies, including national banks and federal savings 
associations, to conduct annual stress tests \3\ and requires the 
primary financial regulatory agency \4\ of those financial companies to 
issue regulations implementing the stress test requirements.\5\ 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.\6\
---------------------------------------------------------------------------

    \2\ Public Law 111-203, 124 Stat. 1376, July 2010.
    \3\ 12 U.S.C. 5365(i)(2)(A).
    \4\ 12 U.S.C. 5301(12).
    \5\ 12 U.S.C. 5365(i)(2)(C).
    \6\ 12 U.S.C. 5365(i)(2)(B).
---------------------------------------------------------------------------

    On October 9, 2012, the OCC published in the Federal Register a 
final rule implementing the section 165(i)(2) annual stress test 
requirement.\7\ This rule describes the reports and information 
collections required to meet the reporting requirements under section 
165(i)(2). These information collections will be given confidential 
treatment (5 U.S.C. 552(b)(4)) to the extent permitted by law.
---------------------------------------------------------------------------

    \7\ 77 FR 61238 (October 9, 2012) (codified at 12 CFR part 46).
---------------------------------------------------------------------------

    The Economic Growth, Regulatory Relief, and Consumer Protection Act 
(EGRRCPA), enacted on May 24, 2018, amends certain aspects of the 
company-run stress testing requirement in section 165(i)(2) of the 
Dodd-Frank Act.\8\ Specifically, section 401 of EGRRCPA raises the 
minimum asset threshold for financial companies covered by the company-
run stress testing requirement from $10 billion to $250 billion in 
total consolidated assets; revises the requirement that financial 
companies conduct stress tests on an ``annual'' basis and instead 
requires them to be ``periodic''; and no longer requires the OCC to 
provide an ``adverse'' stress-testing scenario, thus reducing the 
number of required stress test scenarios from three to two. The 
amendments made by section 401 of EGRRCPA applicable to depository 
institutions are effective on November 24, 2019.
---------------------------------------------------------------------------

    \8\ Public Law 115-174, 132 Stat. 1296-1368 (2018).
---------------------------------------------------------------------------

    The OCC, in coordination with the Board and Federal Deposit 
Insurance Corporation, is in the process of revising its stress testing 
regulation to incorporate EGRRPCA's amendments. On February 12, 2019, 
consistent with section 401 of EGRRCPA, the OCC published a notice of 
proposed rulemaking (proposed rule or proposal) in the Federal Register 
to amend the stress testing rule.\9\ The proposed rule would have 
revised the minimum threshold for banks to conduct stress tests from 
$10 billion to $250 billion, revised the frequency by which certain 
banks would be required to conduct stress tests from annually to 
biennially, and reduced the number of required stress testing scenarios 
from three to two by eliminating the requirement for an adverse 
scenario. The proposed rule would also have made certain additional 
technical and facilitating changes to the stress testing rule.
---------------------------------------------------------------------------

    \9\ 84 FR 3345 (February 12, 2019).
---------------------------------------------------------------------------

    In 2012, the OCC first implemented the reporting templates 
referenced in the final rule. See 77 FR 49485 (August 16, 2012) and 77 
FR 66663 (November 6, 2012).
    The OCC intends to use 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.
    The OCC recognizes that many covered institutions with total 
consolidated assets of $250 billion or more are required to submit 
reports using Comprehensive Capital Analysis and Review (CCAR) 
reporting form FR Y-14A.\10\ The OCC also recognizes the Board has 
proposed to modify 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.\11\ Therefore, 
the OCC is proposing to revise its reporting requirements to mirror the 
Board's proposed FR Y-14A for covered institutions with total 
consolidated assets of $250 billion or more. 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.\12\ 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.
---------------------------------------------------------------------------

    \10\ http://www.federalreserve.gov/reportforms.
    \11\ 84 FR 37292 (July 31, 2019); 84 FR 37285 (July 31, 2019).
    \12\ As discussed in the Supplementary Information section of 
the OCC's final rule implementing CECL, an institution would reflect 
CECL in its stress testing reports in the year it adopts CECL. See 
84 FR 4222 (February 14, 2019).
---------------------------------------------------------------------------

    Type of Review: Revision.
    Affected Public: Businesses or other for-profit.
    Estimated Number of Respondents: 8.
    Estimated Total Annual Burden: 5,088 hours.
    The OCC believes that the systems covered institutions use to 
prepare the FR Y-14 reporting templates to submit to the Board will 
also be used to prepare

[[Page 52176]]

the reporting templates described in this notice. 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.

    Dated: September 24, 2019.
Theodore J. Dowd,
Deputy Chief Counsel, Office of the Comptroller of the Currency.
[FR Doc. 2019-21211 Filed 9-30-19; 8:45 am]
BILLING CODE 4810-33-P