Agency Information Collection Activities: Information Collection Revision; Submission for OMB Review; 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, 8989-8991 [2023-02873]

Download as PDF Federal Register / Vol. 88, No. 28 / Friday, February 10, 2023 / Notices b. Cooper Tire & Rubber Company, 82 FR 52966 (November 15, 2017). c. Cooper Tire & Rubber Company, 82 FR 17510 (April 11, 2017). CTA states that it is not aware of any tire failures related to performance that resulted in an accident, injury, property damage, customer complaint, or any field reports associated with the mislabeling. CTA says that it has quarantined its current inventory of the noncompliant tires—leaving three tires remaining in the market. CTA concludes that the subject noncompliance is inconsequential as it relates to motor vehicle safety and that its petition to be exempted from providing notification of the noncompliance, as required by 49 U.S.C. 30118, and a remedy for the noncompliance, as required by 49 U.S.C. 30120, should be granted. VI. NHTSA’s Analysis lotter on DSK11XQN23PROD with NOTICES1 In determining inconsequentiality of a noncompliance, NHTSA focuses on the safety risk to individuals who experience the type of event against which a recall would otherwise protect.3 In general, NHTSA does not consider the absence of complaints or injuries when determining if a noncompliance is inconsequential to safety. The absence of complaints does not mean vehicle occupants have not experienced a safety issue, nor does it mean that there will not be safety issues in the future.4 Arguments that only a small number of vehicles or items of motor vehicle equipment are affected also do not justify granting an inconsequentiality petition.5 Similarly, mere assertions that 3 See Gen. Motors, LLC; Grant of Petition for Decision of Inconsequential Noncompliance, 78 FR 35355 (June 12, 2013) (finding noncompliance had no effect on occupant safety because it had no effect on the proper operation of the occupant classification system and the correct deployment of an air bag); Osram Sylvania Prods. Inc.; Grant of Petition for Decision of Inconsequential Noncompliance, 78 FR 46000 (July 30, 2013) (finding occupant using noncompliant light source would not be exposed to significantly greater risk than occupant using similar compliant light source). 4 See Morgan 3 Wheeler Limited; Denial of Petition for Decision of Inconsequential Noncompliance, 81 FR 21663, 21666 (Apr. 12, 2016); see also United States v. Gen. Motors Corp., 565 F.2d 754, 759 (D.C. Cir. 1977) (finding defect poses an unreasonable risk when it ‘‘results in hazards as potentially dangerous as sudden engine fire, and where there is no dispute that at least some such hazards, in this case fires, can definitely be expected to occur in the future’’). 5 See Mercedes-Benz, U.S.A., L.L.C.; Denial of Application for Decision of Inconsequential Noncompliance, 66 FR 38342 (July 23, 2001) (rejecting argument that noncompliance was inconsequential because of the small number of vehicles affected); Aston Martin Lagonda Ltd.; VerDate Sep<11>2014 17:41 Feb 09, 2023 Jkt 259001 only a small percentage of vehicles or items of equipment are likely to actually exhibit a noncompliance are unpersuasive. The percentage of potential occupants that could be adversely affected by a noncompliance is not relevant to whether the noncompliance poses an inconsequential risk to safety. Rather, NHTSA focuses on the consequence to an occupant who is exposed to the consequence of that noncompliance.6 The Safety Act is preventive, and manufacturers cannot and should not wait for deaths or injuries to occur in their vehicles before they carry out a recall.7 Indeed, the very purpose of a recall is to protect individuals from risk.8 NHTSA has evaluated the merits of the petition submitted by CTA and is denying CTA’s request for relief from notification and remedy. The purpose of the TIN is to provide a means by which tire manufacturers may notify purchasers of defective or nonconforming tires. CTA cited three prior petitions in support of their own petition. In the Michelin North America, Inc., 85 FR 37495 (June 22, 2020) petition the subject tires contained a TIN, however, the symbol ‘‘DOT’’ was incorrectly placed after the 1st grouping of TIN characters. For the Cooper Tire & Rubber Company, 82 FR 52966 (November 15, 2017) and Cooper Tire & Rubber Company, 82 FR 17510 (April 11, 2017) petitions the manufacturer incorrectly used the wrong characters for the plant code portion of the TIN on one sidewall. The Agency does not find the petitions CTA cited as relevant to this petition. In each of the petitions cited by CTA, the tires contain a full TIN on at least 1 sidewall of the tire that can be utilized for the purposes of identification in the event of a recall. The tires that are the subject of this petition do not have a full or partial TIN on either sidewall. Denial of Petition for Decision of Inconsequential Noncompliance, 81 FR 41370 (June 24, 2016) (noting that situations involving individuals trapped in motor vehicles—while infrequent—are consequential to safety); Morgan 3 Wheeler Ltd.; Denial of Petition for Decision of Inconsequential Noncompliance, 81 FR 21663, 21664 (Apr. 12, 2016) (rejecting argument that petition should be granted because the vehicle was produced in very low numbers and likely to be operated on a limited basis). 6 See Gen. Motors Corp.; Ruling on Petition for Determination of Inconsequential Noncompliance, 69 FR 19897, 19900 (Apr. 14, 2004); Cosco Inc.; Denial of Application for Decision of Inconsequential Noncompliance, 64 FR 29408, 29409 (June 1, 1999). 7 See, e.g., United States v. Gen. Motors Corp., 565 F.2d 754, 759 (D.C. Cir. 1977). 8 Id. PO 00000 Frm 00198 Fmt 4703 Sfmt 4703 8989 Furthermore, NHTSA disagrees with CTA’s assertion that the date code is sufficient to register and uniquely identify a tire. Without a TIN, there is no means by which purchasers can register the subject tires. In the event of a recall, CTA may be unable to timely notify purchasers of a potential safety issue, and consumers and other drivers will be at risk. If an original purchaser of a subject tire previously sold or will sell their vehicle to a different consumer, it is unlikely that CTA will be able to timely notify the subsequent consumer of potential safety issues. Additionally, it may not even be possible for CTA to determine how to contact a subsequent consumer. For these reasons, the Agency is denying this petition for relief from notification and remedy. VII. NHTSA’s Decision In consideration of the foregoing, NHTSA has decided that CTA has not met its burden of persuasion that the subject FMVSS No. 139 noncompliance is inconsequential to motor vehicle safety. Accordingly, CTA’s petition is hereby denied and CTA is consequently obligated to provide notification of and free remedy for that noncompliance under 49 U.S.C. 30118 and 30120. (Authority: 49 U.S.C. 30118, 30120: delegations of authority at 49 CFR 1.95 and 501.8) Anne L. Collins, Associate Administrator for Enforcement. [FR Doc. 2023–02813 Filed 2–9–23; 8:45 am] BILLING CODE 4910–59–P DEPARTMENT OF THE TREASURY Office of the Comptroller of the Currency Agency Information Collection Activities: Information Collection Revision; Submission for OMB Review; 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: 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 SUMMARY: E:\FR\FM\10FEN1.SGM 10FEN1 lotter on DSK11XQN23PROD with NOTICES1 8990 Federal Register / Vol. 88, No. 28 / Friday, February 10, 2023 / Notices 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 proposed revisions 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,’’ and is now seeking comment on the final version of those revisions. The OCC also is giving notice that it has sent the collection to OMB for review. DATES: Comments must be received by March 13, 2023. 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– 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. 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 particular information collection at that website by selecting ‘‘Currently under 30-day Review—Open for Public Comments’’ or by using the search function. On December 5, 2022, the OCC published a notice for 60 days of comment concerning this collection, 87 FR 74470. You may review comments and other related materials that pertain VerDate Sep<11>2014 17:41 Feb 09, 2023 Jkt 259001 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’’ 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 ‘‘1557–0319’’ 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. • 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 St. 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. In addition, copies of the templates referenced in this notice can be found on the OCC’s website under News and Issuances (https://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 1 (Dodd-Frank Act) requires certain financial companies, including national banks and federal savings associations, to conduct annual stress tests 2 and 1 Public 2 12 PO 00000 Law 111–203, 124 Stat. 1376, July 2010. U.S.C. 5365(i)(2)(A). Frm 00199 Fmt 4703 Sfmt 4703 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 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 given confidential treatment (5 U.S.C. 552(b)(4)) to the extent permitted by law. 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 uses 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 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 proposed new changes to these templates on October 27, 2021.7 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.8 The OCC also recognizes the Board has made modifications to the FR Y–14A and, to the extent practical, the OCC is keeping its reporting requirements consistent with the Board’s FR Y–14A to minimize burden on covered institutions. Therefore, the OCC is revising its reporting requirements to mirror the 3 12 U.S.C. 5301(12). U.S.C. 5365(i)(2)(C). 5 12 U.S.C. 5365(i)(2)(B). 6 77 FR 61238 (October 9, 2012) (codified at 12 CFR part 46). 7 87 FR 52560 (August 26, 2022). 8 https://www.federalreserve.gov/reportforms. 4 12 E:\FR\FM\10FEN1.SGM 10FEN1 lotter on DSK11XQN23PROD with NOTICES1 Federal Register / Vol. 88, No. 28 / Friday, February 10, 2023 / Notices Board’s FR Y–14A for covered institutions with total consolidated assets of $250 billion or more. The OCC’s changes include only limited updates to reflect the changes made by the Board, and the OCC reporting forms will substantially resemble the forms used by the OCC last year. Many of the changes made by the Board are inapplicable to OCC-regulated institutions and involve new items that would not be collected by the OCC under the changes. The OCC’s changes include the minimal adjustments necessary to align line items with placement on the 2022 FR Y–14A. The OCC is also changing the description of covered institutions required to complete the trading and counterparty credit risk (CCR) sub-schedules under the Global Market Shock (GMS) scenario to more closely align with the Board’s description. The OCC does not expect these changes to impact the group of banks that have been required to submit under the GMS in prior years. The OCC’s new reporting forms and instructions are available on the OCC’s website at https://www.occ.treas.gov/ publications-and-resources/forms/doddfrank-act-stress-test/index-dodd-frankact-stress-test.html. Type of Review: Revision. Affected Public: Businesses or other for-profit. Estimated Number of Respondents: 4 annually and 4 biennially. Estimated Total Annual Burden: 3,558 hours. The OCC believes that the systems that covered institutions use to prepare the FR Y–14 reporting templates and submit to the Board will also be used to prepare the reporting templates described in this notice. On December 5, 2022, the OCC published a notice for 60 days of comment concerning this collection as revised, 87 FR 74470. No comments were received. Comments continue to be 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, VerDate Sep<11>2014 17:41 Feb 09, 2023 Jkt 259001 maintenance, and purchase of services to provide information. Theodore J. Dowd, Deputy Chief Counsel, Office of the Comptroller of the Currency. [FR Doc. 2023–02873 Filed 2–9–23; 8:45 am] BILLING CODE P DEPARTMENT OF THE TREASURY Bureau of the Fiscal Service Proposed Collection of Information: Special Bond of Indemnity By Purchaser of United States Savings Bonds/Notes Involved in a Chain Letter Scheme Notice and request for comments. ACTION: 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 Bureau of the Fiscal Service within the Department of the Treasury is soliciting comments concerning Special Bond of Indemnity By Purchaser of United States Savings Bonds/Notes Involved in a Chain Letter Scheme. DATES: Written comments should be received on or before April 11, 2023 to be assured of consideration. ADDRESSES: Direct all written comments and requests for additional information to Bureau of the Fiscal Service, Bruce A. Sharp, Room #4006–A, P.O. Box 1328, Parkersburg, WV 26106–1328, or bruce.sharp@fiscal.treasury.gov. SUPPLEMENTARY INFORMATION: Title: Special Bond of Indemnity By Purchaser of United States Savings Bonds/Notes Involved in a Chain Letter Scheme. OMB Number: 1530–0030. Form Number: FS Form 2966. Abstract: The information is requested to support a request for refund of the purchase price of savings bonds purchased in a chain letter scheme. Current Actions: Extension of a currently approved collection. Type of Review: Regular. Affected Public: Individuals or households. Estimated Number of Respondents: 240. Estimated Time per Respondent: 8 minutes. SUMMARY: PO 00000 Frm 00200 Fmt 4703 Sfmt 4703 8991 Estimated Total Annual Burden Hours: 32. 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: 1. 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; 2. the accuracy of the agency’s estimate of the burden of the collection of information; 3. ways to enhance the quality, utility, and clarity of the information to be collected; 4. 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 5. estimates of capital or start-up costs and costs of operation, maintenance, and purchase of services to provide information. Dated: February 6, 2023. Bruce A. Sharp, Bureau PRA Clearance Officer. [FR Doc. 2023–02866 Filed 2–9–23; 8:45 am] BILLING CODE 4810–AS–P DEPARTMENT OF THE TREASURY Bureau of the Fiscal Service Proposed Collection of Information: Offering of U.S. Mortgage Guaranty Insurance Company Tax and Loss Bonds Notice and request for comments. ACTION: 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 Bureau of the Fiscal Service within the Department of the Treasury is soliciting comments concerning the Offering of U.S. Mortgage Guaranty Insurance Company Tax and Loss Bonds. DATES: Written comments should be received on or before April 11, 2023 to be assured of consideration. ADDRESSES: Direct all written comments and requests for additional information to Bureau of the Fiscal Service, Bruce A. Sharp, Room #4006–A, P.O. Box 1328, Parkersburg, WV 26106–1328, or bruce.sharp@fiscal.treasury.gov. SUMMARY: E:\FR\FM\10FEN1.SGM 10FEN1

Agencies

[Federal Register Volume 88, Number 28 (Friday, February 10, 2023)]
[Notices]
[Pages 8989-8991]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-02873]


=======================================================================
-----------------------------------------------------------------------

DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency


Agency Information Collection Activities: Information Collection 
Revision; Submission for OMB Review; 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 comment on a continuing information 
collection as required by the Paperwork Reduction Act of 1995 (PRA). In 
accordance with the requirements of the

[[Page 8990]]

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 proposed revisions 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,'' 
and is now seeking comment on the final version of those revisions. The 
OCC also is giving notice that it has sent the collection to OMB for 
review.

DATES: Comments must be received by March 13, 2023.

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.
    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 
particular information collection at that website by selecting 
``Currently under 30-day Review--Open for Public Comments'' or by using 
the search function.
    On December 5, 2022, the OCC published a notice for 60 days of 
comment concerning this collection, 87 FR 74470. 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'' 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 ``1557-0319'' 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.
     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 St. 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.
    In addition, copies of the templates referenced in this notice can 
be found on the OCC's website under News and Issuances (https://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 \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\
---------------------------------------------------------------------------

    \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).
---------------------------------------------------------------------------

    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 given confidential 
treatment (5 U.S.C. 552(b)(4)) to the extent permitted by law.
---------------------------------------------------------------------------

    \6\ 77 FR 61238 (October 9, 2012) (codified at 12 CFR part 46).
---------------------------------------------------------------------------

    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 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. The OCC proposed new 
changes to these templates on October 27, 2021.\7\
---------------------------------------------------------------------------

    \7\ 87 FR 52560 (August 26, 2022).
---------------------------------------------------------------------------

    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.\8\ The OCC also recognizes the 
Board has made modifications to the FR Y-14A and, to the extent 
practical, the OCC is keeping its reporting requirements consistent 
with the Board's FR Y-14A to minimize burden on covered institutions. 
Therefore, the OCC is revising its reporting requirements to mirror the

[[Page 8991]]

Board's FR Y-14A for covered institutions with total consolidated 
assets of $250 billion or more.
---------------------------------------------------------------------------

    \8\ https://www.federalreserve.gov/reportforms.
---------------------------------------------------------------------------

    The OCC's changes include only limited updates to reflect the 
changes made by the Board, and the OCC reporting forms will 
substantially resemble the forms used by the OCC last year. Many of the 
changes made by the Board are inapplicable to OCC-regulated 
institutions and involve new items that would not be collected by the 
OCC under the changes. The OCC's changes include the minimal 
adjustments necessary to align line items with placement on the 2022 FR 
Y-14A. The OCC is also changing the description of covered institutions 
required to complete the trading and counterparty credit risk (CCR) 
sub-schedules under the Global Market Shock (GMS) scenario to more 
closely align with the Board's description. The OCC does not expect 
these changes to impact the group of banks that have been required to 
submit under the GMS in prior years. The OCC's 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.
    Type of Review: Revision. Affected Public: Businesses or other for-
profit.
    Estimated Number of Respondents: 4 annually and 4 biennially. 
Estimated Total Annual Burden: 3,558 hours.
    The OCC believes that the systems that covered institutions use to 
prepare the FR Y-14 reporting templates and submit to the Board will 
also be used to prepare the reporting templates described in this 
notice. On December 5, 2022, the OCC published a notice for 60 days of 
comment concerning this collection as revised, 87 FR 74470. No comments 
were received. Comments continue to be 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.

Theodore J. Dowd,
Deputy Chief Counsel, Office of the Comptroller of the Currency.
[FR Doc. 2023-02873 Filed 2-9-23; 8:45 am]
BILLING CODE P

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