Agency Information Collection Activities: Information Collection Renewal; Comment Request; Annual Stress Test Rule, 64841-64842 [2022-23246]
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Federal Register / Vol. 87, No. 206 / Wednesday, October 26, 2022 / Notices
other ancillary aids, please contact the
person listed in the FOR FURTHER
INFORMATION CONTACT section by
Wednesday, November 2, 2022.
Oral comments from the public will
be heard during designated comment
periods at the discretion of the WOTAB
Chair and Designated Federal Officer.
To accommodate as many speakers as
possible, the time for each commenter
may be limited. Speakers are requested
to submit a written copy of their
remarks for inclusion in the meeting
records and for circulation to WOTAB
members. All prepared remarks
submitted on time will be accepted and
considered as part of the record. Any
member of the public may present a
written statement to the committee at
any time.
Larry W. Minor,
Associate Administrator for Policy.
[FR Doc. 2022–23318 Filed 10–25–22; 8:45 am]
BILLING CODE 4910–EX–P
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the
Currency
Agency Information Collection
Activities: Information Collection
Renewal; Comment Request; Annual
Stress Test Rule
Office of the Comptroller of the
Currency (OCC), Treasury.
ACTION: Notice and request for
comment.
AGENCY:
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). An agency
may not conduct or sponsor, and
respondents are 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 the renewal of its
information collection titled ‘‘Annual
Stress Test Rule.’’ The OCC also is
giving notice that it has sent the
collection to OMB for review.
DATES: Comments must be submitted on
or before November 25, 2022.
ADDRESSES: 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–
0343, Office of the Comptroller of the
lotter on DSK11XQN23PROD with NOTICES1
SUMMARY:
VerDate Sep<11>2014
17:37 Oct 25, 2022
Jkt 259001
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) 293–4835.
Instructions: You must include
‘‘OCC’’ as the agency name and ‘‘1557–
0343’’ 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.
Written comments and
recommendations for the proposed
information collection should also be
sent within 30 days of publication of
this notice to www.reginfo.gov/public/
do/PRAMain. You can find this
information collection by selecting
‘‘Currently under 30-day Review—Open
for Public Comments’’ or by using the
search function.
On June 30, 2022, the OCC published
a 60-day notice for this information
collection, 87 FR 39159. You may
review comments and other related
materials that pertain to this
information collection following the
close of the 30-day comment period for
this notice by the method set forth in
the next 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 by OMB control number
‘‘1557–0343’’ or ‘‘Annual Stress Test
Rule.’’ 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.
FOR FURTHER INFORMATION CONTACT:
Shaquita Merritt, OCC Clearance
Officer, (202) 649–5490, Chief Counsel’s
Office, Office of the Comptroller of the
PO 00000
Frm 00088
Fmt 4703
Sfmt 4703
64841
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 disclose
information to a third party. The OCC
asks that OMB extend its approval of the
collection in this notice.
Title: Annual Stress Test Rule.
OMB Control No.: 1557–0343.
Type of Review: Regular review.
Abstract: The annual stress test rule 1
implemented Section 165(i) of the
Dodd-Frank Wall Street Reform and
Consumer Protection Act 2 (‘‘DoddFrank Act’’) which requires certain
companies to conduct stress tests. As
enacted by the Dodd-Frank Act, national
banks and Federal savings associations
with total consolidated assets of more
than $10 billion were required to
conduct annual stress tests and comply
with reporting and disclosure
requirements under the rule. The
reporting templates for institutions with
total consolidated assets of over $50
billion were finalized in 2012.3
Section 165(i)(2) of the Dodd-Frank
Act required certain financial
companies, including national banks
and Federal savings associations, to
conduct annual stress tests 4 and
requires the primary financial regulatory
agency 5 of those financial companies to
issue regulations implementing the
stress test requirements.6
Under section 165(i)(2), a covered
institution was 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.7
The Economic Growth, Regulatory
Relief, and Consumer Protection Act
(EGRRCPA), enacted on May 24, 2018,
amended certain aspects of the
1 77
FR 61238 (October 9, 2012).
Wall Street Reform and Consumer
Protection Act, Public Law 111–203, 124 Stat. 1376
(2010).
3 77 FR 49485 (August 16, 2012); 77 FR 66663
(November 6, 2012).
4 12 U.S.C. 5365(i)(2)(A).
5 12 U.S.C. 5301(12).
6 12 U.S.C. 5365(i)(2)(C).
7 12 U.S.C. 5365(i)(2)(B).
2 Dodd-Frank
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64842
Federal Register / Vol. 87, No. 206 / Wednesday, October 26, 2022 / Notices
lotter on DSK11XQN23PROD with NOTICES1
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 for banks to
conduct stress tests ‘‘annually’’ and
instead requires them to conduct stress
tests ‘‘periodically’’; 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 OCC uses the information to
assess the reasonableness of the stress
test results and provide forward-looking
information to the OCC regarding a
covered institution’s capital adequacy.
The OCC also may use stress test results
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 support ongoing improvement in
a covered institution’s stress testing
practices with respect to its internal
assessments of capital adequacy and
overall capital planning.
Under 12 CFR 46.6(c), each covered
institution is required to establish and
maintain a system of controls, oversight,
and documentation, including policies
and procedures, describing the covered
institution’s stress test practices and
methodologies, and processes for
validating and updating the covered
institution’s stress test practices. The
board of directors of the covered
institution must approve and review
these policies at least annually. Section
46.7(a) requires each covered institution
to report the results of their stress tests
to the OCC annually. Section 46.8(a)
requires that a covered institution
publish a summary of the results of its
annual stress tests on its website or in
any other forum that is reasonably
accessible to the public.
The 2019 increase in the applicability
threshold for these requirements 9
reduced the estimated number of
respondents. In addition, the frequency
of these reporting, recordkeeping, and
disclosure requirements for some
institutions were scaled back to
biennial.
Affected Public: Businesses or other
for-profit.
Estimated Annual Burden: 6,240
Hours.
Frequency of Response: Annual or
biannual.
Comments: On June 30, 2022, the
OCC published a 60-day notice for this
information collection, 87 FR 39159. No
comments were received. Comments
continue to be solicited on:
(a) Whether the collections of
information are 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
estimates of the information collection
burden;
(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
Last name
First name
ABRAHMS ..........................................................
ABROMAITIS .....................................................
ADOLFSSON .....................................................
AGRATI ..............................................................
AHLUND .............................................................
AHMED ...............................................................
AKINS .................................................................
AL HAJRI ............................................................
AL MUKHTAR ....................................................
ALEXANDER ......................................................
ALEXANDER ......................................................
ALLEN ................................................................
ALTHAKAFI ........................................................
AMANO ..............................................................
AMIRI ..................................................................
AMOEDO CASQUEIRO .....................................
ANDERSON .......................................................
ANDERSON .......................................................
ANEMA ...............................................................
ANGEHRN ..........................................................
ARAKAWA ..........................................................
ARAKI .................................................................
ARBOLEDA ........................................................
ARNOLD .............................................................
PAUL ................................................................
JONAS JOHN
JESSICA ..........................................................
PAOLA
MIKAEL ............................................................
FAIZ
FIONA ..............................................................
GHANEM .........................................................
RASHA .............................................................
GAIUS ..............................................................
MICHAEL .........................................................
ALEXANDER ...................................................
SHEIKHA .........................................................
TAKAYUKI
NOHAMMD ......................................................
NOELIA
DAVID ..............................................................
KATIE ...............................................................
WALTER ..........................................................
ISABELLE ........................................................
KAZUYA
HIRONORI
AMADIO ...........................................................
ROBERT ..........................................................
8 Public Law 115–174, 132 Stat. 1296–1368
(2018).
VerDate Sep<11>2014
18:52 Oct 25, 2022
Jkt 259001
9 84
PO 00000
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, Bank Advisory, Office of
the Comptroller of the Currency.
[FR Doc. 2022–23246 Filed 10–25–22; 8:45 am]
BILLING CODE 4810–33–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Quarterly Publication of Individuals,
Who Have Chosen To Expatriate
Internal Revenue Service (IRS),
Treasury.
AGENCY:
ACTION:
Notice.
This notice is provided in accordance
with IRC section 6039G of the Health
Insurance Portability and
Accountability Act (HIPAA) of 1996, as
amended. This listing contains the name
of each individual losing United States
citizenship (within the meaning of
section 877(a) or 877A) with respect to
whom the Secretary received
information during the quarter ending
September 30, 2022. For purposes of
this listing, long-term residents, as
defined in section 877(e)(2), are treated
as if they were citizens of the United
States who lost citizenship.
Middle name/initials
C.
CAROL
C.
MARY
JABER GHASSAB
A.
MAXIMILIAN ST JOHN
DAVID
RICHARD
M.
RAFAEL
J.
JEAN
JULIUS
SABINE
ANTONIO
FOX
FR 54472 (October 10, 2019).
Frm 00089
Fmt 4703
Sfmt 4703
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26OCN1
]]>Agencies
[Federal Register Volume 87, Number 206 (Wednesday, October 26, 2022)]
[Notices]
[Pages 64841-64842]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-23246]
=======================================================================
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
Agency Information Collection Activities: Information Collection
Renewal; Comment Request; Annual Stress Test Rule
AGENCY: Office of the Comptroller of the Currency (OCC), Treasury.
ACTION: Notice and request for comment.
-----------------------------------------------------------------------
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). An
agency may not conduct or sponsor, and respondents are 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 the renewal of its information collection
titled ``Annual Stress Test Rule.'' The OCC also is giving notice that
it has sent the collection to OMB for review.
DATES: Comments must be submitted on or before November 25, 2022.
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, 1557-0343, 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) 293-4835.
Instructions: You must include ``OCC'' as the agency name and
``1557-0343'' 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.
Written comments and recommendations for the proposed information
collection should also be sent within 30 days of publication of this
notice to www.reginfo.gov/public/do/PRAMain. You can find this
information collection by selecting ``Currently under 30-day Review--
Open for Public Comments'' or by using the search function.
On June 30, 2022, the OCC published a 60-day notice for this
information collection, 87 FR 39159. You may review comments and other
related materials that pertain to this information collection following
the close of the 30-day comment period for this notice by the method
set forth in the next 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 by OMB control number ``1557-0343'' or ``Annual
Stress Test Rule.'' 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.
FOR FURTHER INFORMATION CONTACT: Shaquita Merritt, OCC 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 disclose information to a third party.
The OCC asks that OMB extend its approval of the collection in this
notice.
Title: Annual Stress Test Rule.
OMB Control No.: 1557-0343.
Type of Review: Regular review.
Abstract: The annual stress test rule \1\ implemented Section
165(i) of the Dodd-Frank Wall Street Reform and Consumer Protection Act
\2\ (``Dodd-Frank Act'') which requires certain companies to conduct
stress tests. As enacted by the Dodd-Frank Act, national banks and
Federal savings associations with total consolidated assets of more
than $10 billion were required to conduct annual stress tests and
comply with reporting and disclosure requirements under the rule. The
reporting templates for institutions with total consolidated assets of
over $50 billion were finalized in 2012.\3\
---------------------------------------------------------------------------
\1\ 77 FR 61238 (October 9, 2012).
\2\ Dodd-Frank Wall Street Reform and Consumer Protection Act,
Public Law 111-203, 124 Stat. 1376 (2010).
\3\ 77 FR 49485 (August 16, 2012); 77 FR 66663 (November 6,
2012).
---------------------------------------------------------------------------
Section 165(i)(2) of the Dodd-Frank Act required certain financial
companies, including national banks and Federal savings associations,
to conduct annual stress tests \4\ and requires the primary financial
regulatory agency \5\ of those financial companies to issue regulations
implementing the stress test requirements.\6\
---------------------------------------------------------------------------
\4\ 12 U.S.C. 5365(i)(2)(A).
\5\ 12 U.S.C. 5301(12).
\6\ 12 U.S.C. 5365(i)(2)(C).
---------------------------------------------------------------------------
Under section 165(i)(2), a covered institution was 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.\7\
---------------------------------------------------------------------------
\7\ 12 U.S.C. 5365(i)(2)(B).
---------------------------------------------------------------------------
The Economic Growth, Regulatory Relief, and Consumer Protection Act
(EGRRCPA), enacted on May 24, 2018, amended certain aspects of the
[[Page 64842]]
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 for banks to conduct
stress tests ``annually'' and instead requires them to conduct stress
tests ``periodically''; 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.
---------------------------------------------------------------------------
\8\ Public Law 115-174, 132 Stat. 1296-1368 (2018).
---------------------------------------------------------------------------
The OCC uses the information to assess the reasonableness of the
stress test results and provide forward-looking information to the OCC
regarding a covered institution's capital adequacy. The OCC also may
use stress test results 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
support ongoing improvement in a covered institution's stress testing
practices with respect to its internal assessments of capital adequacy
and overall capital planning.
Under 12 CFR 46.6(c), each covered institution is required to
establish and maintain a system of controls, oversight, and
documentation, including policies and procedures, describing the
covered institution's stress test practices and methodologies, and
processes for validating and updating the covered institution's stress
test practices. The board of directors of the covered institution must
approve and review these policies at least annually. Section 46.7(a)
requires each covered institution to report the results of their stress
tests to the OCC annually. Section 46.8(a) requires that a covered
institution publish a summary of the results of its annual stress tests
on its website or in any other forum that is reasonably accessible to
the public.
The 2019 increase in the applicability threshold for these
requirements \9\ reduced the estimated number of respondents. In
addition, the frequency of these reporting, recordkeeping, and
disclosure requirements for some institutions were scaled back to
biennial.
---------------------------------------------------------------------------
\9\ 84 FR 54472 (October 10, 2019).
---------------------------------------------------------------------------
Affected Public: Businesses or other for-profit.
Estimated Annual Burden: 6,240 Hours.
Frequency of Response: Annual or biannual.
Comments: On June 30, 2022, the OCC published a 60-day notice for
this information collection, 87 FR 39159. No comments were received.
Comments continue to be solicited on:
(a) Whether the collections of information are 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 estimates of the information
collection burden;
(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, Bank Advisory, Office of the Comptroller of the
Currency.
[FR Doc. 2022-23246 Filed 10-25-22; 8:45 am]
BILLING CODE 4810-33-P
