[Federal Register Volume 78, Number 206 (Thursday, October 24, 2013)]
[Notices]
[Pages 63470-63474]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2013-25015]
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FEDERAL DEPOSIT INSURANCE CORPORATION
Agency Information Collection Activities: Proposed Information
Collection; Submission for OMB Review
AGENCY: Federal Deposit Insurance Corporation.
ACTION: Notice of information collection to be submitted to OMB for
review and approval under the Paperwork Reduction Act, and request for
comment.
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SUMMARY: The Federal Deposit Insurance Corporation (FDIC), 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 revision of a continuing information
collection, as required by the Paperwork Reduction Act of 1995.
An agency may not conduct or sponsor, and a 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 FDIC is soliciting comment concerning its information collection
titled, ``Annual Stress Test Reporting Template and Documentation for
Covered Banks with Total Consolidated Assets of $10 Billion to $50
Billion under the Dodd-Frank Wall Street Reform and Consumer Protection
Act.''
DATES: Comments must be received by November 25, 2013.
ADDRESSES: You may submit written comments by any of the following
methods:
Agency Web site: http://www.fdic.gov/regulations/laws/federal/notices.html. Follow the instructions for submitting comments
on the FDIC Web site.
Federal eRulemaking Portal: http://www.regulations.gov.
Follow the instructions for submitting comments.
Email: [email protected]. Include ``Annual Stress Test
Reporting Template and Documentation'' on the subject line of the
message.
Mail: Gary A. Kuiper, Counsel, Executive Secretary
Section, Attention: Comments, FDIC, 550 17th Street NW., Washington, DC
20429.
Hand Delivery/Courier: Guard station at the rear of the
550 17th Street Building (located on F Street) on business days between
7 a.m. and 5 p.m.
Public Inspection: All comments received will be posted without
change to http://www.fdic.gov/regulations/laws/federal/notices.html
including any personal information provided.
Additionally, you may send a copy of your comments to: By mail to
the U.S. OMB, 725 17th Street NW., 10235, Washington, DC 20503
or by facsimile to (202) 395-6974, Attention: Federal Banking Agency
Desk Officer.
FOR FURTHER INFORMATION CONTACT: You can request additional information
from Gary Kuiper, 202.898.3877, Legal Division, FDIC, 550 17th Street
NW., NYA-5046, Washington, DC 20429. In addition, copies of the
templates referenced in this notice can be found on the FDIC's Web site
(http://www.fdic.gov/regulations/laws/federal/notices.html).
SUPPLEMENTARY INFORMATION: The FDIC is requesting comment on the
following revision of an information collection:
Annual Stress Test Reporting Template and Documentation for Covered
Banks With Total Consolidated Assets of $10 Billion to $50 Billion
Under the Dodd-Frank Wall Street Reform and Consumer Protection Act
Section 165(i)(2) of the Dodd-Frank Wall Street Reform and Consumer
Protection Act \1\ (Dodd-Frank Act) requires certain financial
companies, including state nonmember banks and state 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\ A state
nonmember bank or state savings association is a ``covered bank'' and
therefore subject to the stress test requirements if its total
consolidated assets exceed $10 billion. Under section 165(i)(2), a
covered bank 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 15, 2012, the FDIC published in the Federal Register a final
rule implementing the section 165(i)(2) annual stress test
requirement.\6\ This notice describes the reports and information
required to meet the reporting requirements under section 165(i)(2) for
covered banks with total consolidated assets of $10 billion to $50
billion. These information collections will be given confidential
treatment to the extent allowed by law (5 U.S.C. 552(b)(4)).
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\1\ Public Law 111-203, 124 Stat. 1376 (July 21, 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).
\6\ 77 FR 62417 (October 15, 2012).
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The FDIC intends to use the data collected through these proposed
templates to assess the reasonableness of the stress test results of
covered banks and to provide forward-looking information to the FDIC
regarding a covered bank's capital adequacy. The FDIC 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 bank. The stress test results are expected
to support ongoing improvement in a covered bank's stress testing
practices with respect to its internal assessments of capital adequacy
and overall capital planning.
[[Page 63471]]
The Dodd-Frank Act stress testing requirements apply to all covered
banks, but the FDIC recognized that many covered banks with
consolidated total assets of $50 billion or more have been subject to
stress testing requirements under the Board's Comprehensive Capital
Analysis and Review (CCAR). The FDIC also recognized that these banks'
stress tests will be applied to more complex portfolios and therefore
warrant a broader set of reports to adequately capture the results of
the stress tests. These reports will necessarily require more detail
than would be appropriate for smaller, less complex institutions.
Therefore, the FDIC decided to specify separate reporting templates for
covered banks with total consolidated assets between $10 billion and
$50 billion and for covered banks with total consolidated assets of $50
billion or more.\7\
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\7\ See 77 FR 16263 for the Paperwork Reduction Act Notice and
the FDIC Web site at http://www.fdic.gov/regulations/laws/federal/2013/2013-03-14_notice/templates.html for the reporting templates
for covered banks with total consolidated assets of $50 billion or
more.
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While the general reporting categories are the same (income
statement, balance sheet, and capital), the level of detail for
individual reporting items is less for $10 billion to $50 billion
covered banks. For example, accounting for loss provisions by category
is not required, and less detail is required for commercial and
industrial lending. Because smaller banks with assets of $10 billion to
$50 billion generally have less complex balance sheets, the FDIC
believes that highly detailed reporting is not warranted, and so the
FDIC is not requiring supplemental schedules on such areas as retail
balances, securities and trading, operational risk, and pre-provision
net revenue (PPNR). The FDIC has worked closely with the Board and the
Office of the Comptroller of the Currency (OCC) (together ``the
agencies'') to make the agencies' respective rules implementing annual
stress testing under the Dodd-Frank Act consistent and comparable by
requiring similar standards for scope of application, scenarios, data
collection and reporting forms. The FDIC also has worked to minimize
any potential duplication of effort related to the annual stress test
requirements. The FDIC, OCC, and Board coordinated the preparation of
stress testing templates in order to make the templates as similar as
possible and thereby minimize the burden on affected institutions. The
proposed FDIC Dodd-Frank Annual Stress Test (DFAST) reporting templates
for covered banks with assets of $10 billion to $50 billion or more are
described below.
Description of Reporting Templates for Banks With $10 Billion to $50
Billion in Assets
The ``Annual Stress Test Reporting Template and Documentation for
Covered Banks with Total Consolidated Assets of $10 Billion to $50
Billion under the Dodd-Frank Wall Street Reform and Consumer Protection
Act'' (DFAST 10-50 Results Template) includes data collection
worksheets necessary for the FDIC to assess the company-run stress test
results for baseline, adverse, and severely adverse scenarios as well
as any other scenario specified in accordance with regulations
specified by the FDIC. The DFAST 10-50 Results Template includes
worksheets that collect information on the following areas:
1. Income Statement;
2. Balance Sheet, and
3. Capital.
Each $10 billion to $50 billion covered bank reporting to the FDIC
using this form will be required to submit worksheets for each scenario
provided to covered banks in accordance with regulations implementing
Section 165(i)(2) as specified by the FDIC.
Worksheets: Income Statement
The income statement worksheet collects data for the quarter
preceding the planning horizon and for each quarter of the planning
horizon for the stress test on projected losses and revenues in the
following categories.
1. Net charge-offs;
2. Pre-provision net revenue;
3. Provision for loan and lease losses;
4. Realized gains (losses) on held to maturity (HTM) and available-
for-sale (AFS) securities;
5. All other gains (losses);
6. Taxes, and
Memoranda items:
7. Total other than temporary impairment (OTTI) losses.
This schedule provides information used to assess losses that
covered banks can sustain in baseline, adverse, and severely adverse
stress scenarios.
Worksheets: Balance Sheet
The balance sheet worksheet collects data for the quarter preceding
the planning horizon and for each quarter of the planning horizon for
the stress test on projected equity capital, as well as on assets and
liabilities in the following categories.
1. Loans;
2. HTM securities;
3. AFS securities;
4. Trading assets;
5. Total intangible assets;
6. Other real estate;
7. All other assets;
8. Retail funding (core deposits);
9. Wholesale funding;
10. Trading liabilities;
11. All other liabilities, and
12. Perpetual preferred stock and related surplus;
The FDIC intends to use this worksheet to assess the projected
changes in assets and liabilities that a covered bank can sustain in a
baseline, adverse, or severely adverse scenario. This worksheet will
also be used to assess the revenue and loss projections identified in
the income statement worksheet.
Worksheets: Capital
The capital worksheet, which is appended to the balance sheet
worksheet, collects data for the quarter preceding the planning horizon
and for each quarter of the planning horizon for the stress test on the
following areas.
1. Unrealized gains (losses) on AFS securities;
2. Disallowed deferred tax asset;
3. Tier 1 capital;
4. Qualified subordinated debt and redeemable preferred stock;
5. Allowance includable in Tier 2 capital;
6. Tier 2 capital;
7. Total risk-based capital;
8. Total capital;
9. Risk weighted assets;
10. Total assets for leverage purposes;
11. Tier 1 risk-based capital ratio;
12. Tier 1 leverage ratio;
13. Total risk-based capital ratio;
Memoranda items:
14. Sale, conversion, acquisition, or retirement of capital stock;
15. Cash dividends declared on preferred stock, and
16. Cash dividends declared on common stock.
In addition to the information collected on the capital worksheet,
the Summary Schedule captures projections for regulatory capital ratios
over the planning horizon by scenario.
The FDIC intends to use these worksheets to assess the impact on
capital of the projected losses and projected changes in assets that
the covered bank can sustain in a stressed scenario. In addition to
reviewing the worksheet in the context of the balance sheet and income
statement projections, the FDIC also intends to use this worksheet to
assess the adequacy of capital planning processes for each covered
bank.
[[Page 63472]]
Description of DFAST 10-50 Scenario Variables Template
To conduct the stress test required under this rule, a covered bank
may need to project additional economic and financial variables to
estimate losses or revenues for some or all of its portfolios. In such
a case, the covered bank is required to complete a DFAST 10-50 Scenario
Variables Template worksheet for each scenario where such additional
variables are used to conduct the stress test. Each scenario worksheet
collects the variable name (matching that reported on the Scenario
Variables Template Definitions worksheet), the actual value of the
variable during the third quarter of the reporting year, and the
projected value of the variable for nine future quarters.
Description of Supporting Documentation
Covered banks with total consolidated assets of $10 billion to $50
billion must submit clear documentation of the projections included in
the worksheets to support efficient and timely review of annual stress
test results by the FDIC. The supporting documentation should be
submitted electronically and is not expected to be reported in the
workbooks used for required data reporting. This supporting
documentation must describe the types of risks included in the stress
test; describe clearly the methodology used to produce the stress test
projections; describe the methods used to translate the macroeconomic
factors into a covered bank's projections; and also include an
explanation of the most significant causes for the changes in
regulatory capital ratios. The supporting documentation also should
address the impact of anticipated corporate events, including mergers,
acquisitions, or divestitures of business lines or entities, and
changes in strategic direction, and should describe how such changes
are reflected in stress test results, including the impact on estimates
of losses, expenses and revenues, net interest margins, non-interest
income items, and balance sheet amounts.
Where covered bank-specific assumptions are made that differ from
the broad macroeconomic assumptions incorporated in stress scenarios
provided by the FDIC, the documentation must also describe such
assumptions and how those assumptions relate to reported projections.
Where historical relationships are relied upon, the covered banks must
describe the historical data and provide the basis for the expectation
that these relationships would be maintained in each scenario,
particularly under adverse and severely adverse conditions.
Comment Summary
In the Federal Register of March 14, 2013 (77 FR 16263), the FDIC
published a 60-day notice requesting public comment on the templates
and the collection of information. The FDIC received two comment
letters on the proposed implementation of the information collection:
one from an industry group and one from a financial services consulting
firm.\8\ The OCC and the Board together, in addition to receiving these
two comments, also received five comments from individual banking
organizations.\9\ As noted in the initial Federal Register notice, the
agencies each developed and requested public comment on very similar
reporting forms to implement the reporting requirements. The agencies
coordinated the changes made to each agency's templates in order to
keep the templates as similar as possible and minimize the burden on
affected institutions. As part of this coordination, in discussions
with the other agencies, the FDIC considered these five comments, in
addition to the two comments it directly received. The FDIC has made
several changes to the proposed DFAST 10-50 Results Template in light
of all comments received.
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\8\ These comment letters may be found at http://www.fdic.gov/regulations/laws/federal/2013/2013-annual_stress_test.html
\9\ These comments may be found at http://www.regulations.gov
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Some general comments were received regarding the report format,
instructions, and timing. However, the majority of the public comments
focused on specific data items on the results schedules and in some
cases compared the level of detail required in the proposed DFAST 10-50
Results Template to the requirements of the Capital Assessments and
Stress Testing information collection (FR Y-14A/Q/M; OMB No. 7100-0341)
applicable to bank holding companies with $50 billion or more in total
assets.\10\ Lastly, one commenter asked for clarification regarding how
regulatory capital should be calculated over the planning horizon in
consideration of the phase-in period for the new capital framework that
implements Basel III standards.
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\10\ The FR Y-16 reporting requirements are tailored to the $10-
$50 billion institutions and require significantly less granular
reporting segmentation relative to the FR Y-14A applicable to bank
holding companies with $50 billion or more in total assets.
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Detailed Discussion of Public Comments
A. General Comments
Some commenters expressed concern about having to submit stress
testing results in a Call Report-type format, noting that the existing
stress testing software of many banks and savings associations was not
developed with such a format in mind, and asked for less detailed
reporting forms. These commenters requested that the agencies consider
further delaying implementation of the reporting requirements and/or
limiting the report submissions on the DFAST 10-50 Results Template
Summary Schedule. The FDIC has determined that using reporting
templates modeled on the Call Report is the best solution because of
familiarity with this format by the FDIC, covered banks, and the
public, particularly when mandatory public disclosure of summary
results under the severely adverse scenario becomes effective in 2015.
The proposed DFAST 10-50 Results Template, aligned to the Call Report,
provides a format that is well understood and utilized by the industry.
Therefore, the FDIC believes that the reporting requirements will not
place undue burden on the ability of covered banks to report stress
test results. Using the Call Report format would also ensure a high
level of consistency across covered banks and facilitate assessment of
the results. Furthermore, the OCC and the Board are adapting the same
format for their templates; utilization of the Call Report format by
covered banks would maintain consistency across agencies and in
reporting for all covered institutions. Finally, the FDIC has already
delayed for one year the application of the stress testing rules for
the $10 billion to $50 billion covered banks, in part so that they
would have time to create the necessary infrastructure to submit the
appropriate stress testing results.
Two commenters expressed concern about the differences among stress
testing templates used to respond to different stress testing
requirements and about the burden some banking organizations (companies
with $50 billion or more in assets that control subsidiaries with $10
billion to $50 billion in assets) might face in preparing multiple sets
of templates. The FDIC notes that the final FDIC stress testing rule
allows such subsidiaries to elect to conduct its stress test and report
to the FDIC on the same timeline as its parent bank holding company or
savings and
[[Page 63473]]
loan holding company.\11\ The FDIC has coordinated with the OCC and the
Board in the development of the stress test templates and has attempted
to minimize the duplication and reporting burden of holding companies
subject to the stress test rules which have subsidiaries subject to the
stress test rules.
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\11\ See 12 C.F.R. 325.203(d),
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One commenter suggested allowing covered banks to apply
generalized, bank-developed loss assumptions for immaterial portfolios.
The commenter also noted that an immaterial portfolio exception is
allowed for firms with $50 billion or more assets in stress testing
submissions. The FDIC has considered the burden of calculating losses
for immaterial portfolios for covered banks with $10 billion to $50
billion in assets and determined that providing a safe harbor that
defines immaterial portfolios would be contrary to the purpose of a
company-run stress test and could unintentionally mask risk or cause
institutions to conclude erroneously that the aggregation of immaterial
portfolios would always pose little or no risk to an institution.
Although stress testing should be applied to all exposures, the FDIC
recognizes that the same level of detail and analysis may not be
necessary for lower-risk, immaterial portfolios. For such portfolios,
it may be appropriate for a covered bank to use a less sophisticated
approach for its stress test projections, assuming the results of that
approach are conservative and well-documented. The FDIC has therefore
not established a reporting threshold for immaterial portfolios in the
reporting requirements for the proposed DFAST 10-50 Results Template.
Covered banks should refer to the proposed interagency supervisory
guidance on implementing Dodd-Frank Act company-run stress tests for
banking organizations with total consolidated assets of more than $10
billion but less than $50 billion for more information on estimates for
immaterial portfolios.\12\
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\12\ 78 FR 47217 (August 5, 2013). This guidance is expected to
be finalized in 2013.
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B. Regulatory Capital
One commenter asked for clarification regarding the calculation and
reporting of regulatory capital and risk-weighted assets (RWAs), noting
the expectation that capital and RWA calculations and definitions would
change over the planning horizon as new rules are implemented
(specifically noting new definitions when the Basel III final rule is
adopted). In addition, this commenter also requested clarification on
the calculation of tier 1 non-common capital elements.
There are three line items in the proposed DFAST 10-50 Results
Template that would be specifically affected by the capital framework
that implements Basel III standards: tier 1 common equity capital, non-
common capital elements, and RWAs. Common equity tier 1 capital was
recently defined in the Basel III interim final rule for all
institutions and does not become effective for institutions with $10-
$50 billion in assets until 2015.\13\ The need to model alternative
capital calculations more than halfway through the planning horizon for
these banking organizations adds complexity and increases the potential
or likelihood of erroneous calculations or assumptions. This complexity
and increased risk of error could detract from the main purpose of
conducting a company-run stress test; mainly to make a forward-looking
assessment of capital planning processes and internal capital needs
under various scenarios. Lastly, as the first required public
disclosure will not commence until the 2014 stress test cycle with
disclosure occurring in June of 2015, the additional burden of
transitioning to a new capital calculation more than halfway through
the 2013 stress test planning horizon will not provide the public with
any insight into a firm's capital adequacy or planning process in this
instance.
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\13\ 78 FR 55340 (September 10, 2013).
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Accordingly, the FDIC removed tier 1 common and non-common capital
line items, and the associated equity ratios, from the DFAST 10-50
Results Template for the 2013 stress test cycle. The final template
allows covered banks to report capital and RWAs for the entire planning
horizon using the regulatory capital rules and definitions that are
applicable on the ``as of'' date of each report for this initial
reporting submission. For example, the initial respondent panel would
report as of September 30, 2013; therefore, that submission should
apply capital calculations consistently throughout the planning horizon
using the capital rules and definitions effective as of September 30,
2013. The FDIC will provide information regarding the capital and RWA
calculations in the final interagency guidance and will consider adding
elements of the Basel III capital requirements in future DFAST 10-50
Results Template reporting forms and instructions.
C. Data Items--Results Schedule (Balance Sheet Income Statement)
Two commenters argued that the level of detail demanded by the
templates was excessive. The commenters stated that separating 1-4
family construction loans from all other construction loans would
require more detailed reporting for the DFAST 10-50 Results Template
than what is required of large bank holding companies subject to the
Board's CCAR, and firms with $50 billion or more in assets that report
stress test results using the DFAST 14A form. While the templates for
firms with $50 billion or more in assets do not segment 1-4 family
construction loans, large bank holding companies must submit that
specific data item on both the FR Y-14Q and FR Y-14M reporting forms.
More importantly, the FDIC believes this data item is particularly
relevant to covered banks that previously have reported material
concentrations in this product type and because a significant amount of
the industry's losses during the most recent economic downturn emanated
from this product. These data would provide necessary information for
covered banks to manage risk effectively and appropriately assess and
plan for their capital needs.
One commenter also argued that requiring separate line items for
retail and wholesale funding would add unnecessary complexity and
burden. The FDIC, however, believes it is necessary to maintain these
separate items. The breakdown of deposits between retail and wholesale
is easily facilitated through Call Report data and the proposed DFAST
10-50 Results Template instructions indicate that covered banks should
use the Call Report segmentation definitions to project these line
items. In addition, retail and wholesale funding historically have
reacted differently under stressed economic conditions. Projecting the
retail and wholesale deposit structure throughout the planning horizon
as proposed would provide useful information to a covered bank and the
FDIC with respect to how a covered bank assesses capital adequacy,
plans for its capital needs, and manages risk.
Two commenters stated that gathering AFS and HTM balances for U.S.
government obligations and obligations of government sponsored entities
(GSEs) would require more detailed reporting for the DFAST 10-50
Results Template than what is required for the DFAST 14A. Another
commenter suggested separating GSE obligations from other government
obligations on the DFAST 10-50 Results Template Balance Sheet
[[Page 63474]]
consistent with the treatment on the Call Report Income Statement.
While the DFAST 14A collects only total AFS and HTM balances on the
balance sheet schedule, this reporting series requires more granular
data than proposed for the DFAST 10-50 Results Template on government
securities through other schedules within the DFAST 14A. Similarly, the
reporting requirements for the Call Report Balance Sheet mandate more
detailed information on AFS and HTM GSE obligations relative to the
reporting requirements for the DFAST 10-50 Results Template. Gathering
AFS and HTM balances for U.S. government obligations and obligations of
GSEs would provide relevant and required data to project net income and
regulatory capital over the planning horizon.
Commenters also favored the elimination of several line items. One
commenter stated that the level of detail required by the DFAST 10-50
Results Template Balance Sheet memoranda items was not informative or
necessary to the loss estimation process, or entailed more detail than
what is required by the DFAST 14A. Specific memoranda items cited by
the commenter included troubled debt restructurings and loans secured
by 1-4 family in foreclosure. Based on this comment, the FDIC also
evaluated the utility of another Balance Sheet memoranda item: Loans
and leases guaranteed by either U.S. government or GSE guarantees
(i.e., non-FDIC loss sharing agreements). The FDIC agrees that these
memoranda data items are already captured within the proposed DFAST 10-
50 Results Template reporting requirements for loans and leases and
that eliminating these items from the reporting template would not
affect an institution's ability to project pre-provision net revenue,
net income, or regulatory capital in order to assess their capital
needs under stressed conditions. Therefore, the FDIC eliminated these
three supplemental Balance Sheet memoranda reporting items.
Commenters also requested that common stock, retained earnings,
surplus, and other equity components be reported as a single line item.
The FDIC agrees with this comment and has combined the aforementioned
capital components into one line item to be reported as ``equity
capital.''
One commenter noted that separately modeling average rates for each
type of deposit would also involve a significant amount of work and
potentially affect other company-run models. The FDIC agrees that the
average rate information is not a data input that a covered bank needs
to project losses, pre-provision net revenue, or capital. Further, the
additional burden placed on covered banks to calculate the projected
average rates could distract unnecessarily from the primary goal of the
annual company-run stress test--to estimate effectively the possible
impact of an economic downturn on a covered bank's capital position in
order to plan for capital needs and to identify and managed risk.
Therefore, the FDIC has removed all average rate memoranda items on the
balance sheet.
Two commenters favored the elimination of the income statement item
for Gains and Losses on Other Real Estate Owned (OREO). One commenter
noted that this element could be combined effectively with forecasting
of other OREO expenses. The other commenter stated that the level of
detail for this element is more granular that what is required for the
DFAST 14A templates. The FDIC notes that gains or losses on OREO are
captured in the pre-provision net revenue metrics worksheet of the
DFAST 14A templates. Therefore, this requirement would not be more
burdensome for the $10 billion-$50 billion covered banks. Nevertheless,
the FDIC has eliminated this item because gains and losses on OREO
would already be captured within the noninterest income statement
memoranda item ``itemize and describe amounts greater than 15% of
noninterest income'' or in the ``itemize and describe amounts greater
than 15% of noninterest expense'' when the amount meets the 15%
threshold.
D. Technical Changes/Other Items
In response to a few technical comments received, the FDIC has
adjusted the reporting templates and instructions. These changes
include correction of formulaic errors; correction of MDRM reference
errors; clarified reporting instructions for income statement memoranda
items; and more detailed technical reporting instructions, including
the elimination of the contact information schedule as this information
would be collected through the DFAST 10-50 Results Template cover sheet
and related data collection application.
Burden Estimates
The FDIC estimates the burden of this collection of information as
follows:
Estimated Number of Respondents: 22.
Estimated Annual Burden per Respondent: 464 hours.
Estimated Total Annual Burden: 10,208 hours.
The burden for each $10 billion to $50 billion covered bank that
completes the FDIC DFAST 10-50 Results Template is estimated to be 464
hours. The burden to complete the FDIC DFAST 10-50 Results Template is
estimated to be 440 hours, including 20 hours to input these data and
420 hours for work related to modeling efforts. The burden to complete
the FDIC DFAST 10-50 Scenario Variables Template is estimated to be 24
hours. The total burden for all 22 respondents to complete both
templates is estimated to be 10,208 hours. The start-up burden for each
new respondent is estimated to be 3,600 hours, a total of 79,200 hours,
and ongoing revisions for each existing firm is estimated to be 160
hours, a total of 3,520 hours.
Comments continue to be invited on:
(a) Whether the collection of information is necessary for the
proper performance of the functions of the FDIC, including whether the
information has practical utility;
(b) The accuracy of the FDIC'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;
(e) Estimates of capital or start-up costs and costs of operation,
maintenance, and purchase of services to provide information; and
(f) The ability of FDIC-supervised banks and thrifts with assets
between $10 billion and $50 billion to provide the requested
information to the FDIC by March 31, 2014.
Dated at Washington, DC, this 21st day of October 2013.
Federal Deposit Insurance Corporation
Robert E. Feldman,
Executive Secretary.
[FR Doc. 2013-25015 Filed 10-23-13; 8:45 am]
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