[Federal Register Volume 80, Number 72 (Wednesday, April 15, 2015)]
[Notices]
[Pages 20290-20291]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-08611]
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DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
Agency Information Collection Activities: Information Collection
Renewal; Comment Request; Guidance on Stress Testing for Banking
Organizations With More than $10 Billion in Total Consolidated Assets
AGENCY: Office of the Comptroller of the Currency, Treasury (OCC).
ACTION: Notice and request for comment.
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SUMMARY: The OCC, as part of its continuing effort to reduce paperwork
and respondent burden, invites the general public and other Federal
agencies to take this opportunity to comment on a continuing
information collection, as required by the Paperwork Reduction Act of
1995 (PRA).
In accordance with the requirements of the PRA, the OCC may not
conduct or sponsor, and the respondent is not required to respond to,
an information collection unless it displays a currently valid Office
of Management and Budget (OMB) control number.
The OCC is soliciting comment concerning renewal of its information
collection titled, ``Guidance on Stress Testing for Banking
Organizations with more than $10 Billion in Total Consolidated
Assets.''
DATES: Comments must be submitted on or before June 15, 2015.
ADDRESSES: Because paper mail in the Washington, DC area and at the OCC
is subject to delay, commenters are encouraged to submit comments by
email, if possible. Comments may be sent to: Legislative and Regulatory
Activities Division, Office of the Comptroller of the Currency,
Attention: 1557-0312, 400 7th Street SW., Suite
[[Page 20291]]
3E-218, Mail Stop 9W-11, Washington, DC 20219. In addition, comments
may be sent by fax to (571) 465-4326 or by electronic mail to
[email protected]. You may personally inspect and photocopy
comments at the OCC, 400 7th Street SW., Washington, DC 20219. For
security reasons, the OCC requires that visitors make an appointment to
inspect comments. You may do so by calling (202) 649-6700. Upon
arrival, visitors will be required to present valid government-issued
photo identification and submit to security screening in order to
inspect and photocopy comments.
All 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.
FOR FURTHER INFORMATION CONTACT: Mary H. Gottlieb, (202) 649-5490, for
persons who are deaf or hard of hearing, TTY, (202) 649-5597,
Legislative and Regulatory Activities Division, Office of the
Comptroller of the Currency, 400 7th Street SW., Suite 3E-218, Mail
Stop 9W-11, Washington, DC 20219.
SUPPLEMENTARY INFORMATION: Under the PRA (44 U.S.C. 3501-3520), Federal
agencies must obtain approval from the Office of Management and Budget
(OMB) for each collection of information they conduct or sponsor.
``Collection of information'' is defined in 44 U.S.C. 3502(3) and 5 CFR
1320.3(c) to include agency requests or requirements that members of
the public submit reports, keep records, or provide information to a
third party. Section 3506(c)(2)(A) of the PRA (44 U.S.C. 3506(c)(2)(A))
requires Federal agencies to provide a 60-day notice in the Federal
Register concerning each proposed collection of information, including
each proposed extension of an existing collection of information,
before submitting the collection to OMB for approval. To comply with
this requirement, the OCC is publishing notice of the proposed
collection of information set forth in this document.
The OCC is proposing to extend OMB approval of the following
information collection:
Title: Recordkeeping and Disclosure Provisions Associated with
Stress Testing Guidance.
OMB Control No.: 1557-0312.
Description: Each banking organization should have the capacity to
understand its risks and the potential impact of stressful events and
circumstances on its financial condition.\1\ On May 17, 2012, the OCC,
along with the Federal Deposit Insurance Corporation (FDIC) and Board
of Governors of the Federal Reserve (FRB), published guidance on the
use of stress testing as a means to better understand the range of a
banking organization's potential risk exposures.\2\ The OCC is now
seeking to renew the information collection associated with that
guidance.
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\1\ For purposes of this guidance, the term ``banking
organization'' means national banks and Federal branches and
agencies supervised by the OCC; state member banks, bank holding
companies, and all other institutions for which the FRB is the
primary Federal supervisor; and state nonmember insured banks and
other institutions supervised by the FDIC.
\2\ 77 FR 29458 (May 17, 2012).
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The guidance provides an overview of how a banking organization
should structure its stress testing activities to ensure they fit into
the banking organization's overall risk management. The purpose of the
guidance is to outline broad principles for a satisfactory stress
testing framework and to describe the manner in which stress testing
should be used, that is as an integral component of risk management
applicable at various levels of aggregation within a banking
organization, as well as a tool for capital and liquidity planning.
While the guidance is not intended to provide detailed instructions for
conducting stress testing for any particular risk or business area, it
does describe several types of stress testing activities and how they
may be most appropriately used by banking organizations. The guidance
also does not explicitly address the stress testing requirements
imposed upon certain companies by section 165(i) of the Dodd-Frank Wall
Street Reform and Consumer Protection Act.\3\
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\3\ Pub. L. 111-203, 124 Stat. 1376. Section 165(i) of the Dodd-
Frank Act is codified at 12 U.S.C. 5365(i)(2).
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Type of Review: Regular.
Affected Public: Businesses or other for-profit.
Estimated Number of Respondents: 50.
Estimated annual burden: 13,000 hours.
Comments submitted in response to this notice will be summarized
and included in the request for OMB approval. All comments will become
a matter of public record. Comments are invited on:
(a) Whether the collections of information are necessary for the
proper performance of the OCC's functions, including whether the
information has practical utility;
(b) The accuracy of the OCC's estimates of the burden of the
information collections, including the validity of the methodology and
assumptions used;
(c) Ways to enhance the quality, utility, and clarity of the
information to be collected;
(d) Ways to minimize the burden of information collections on
respondents, including through the use of automated collection
techniques or other forms of information technology; and
(e) Estimates of capital or start-up costs and costs of operation,
maintenance, and purchase of services to provide information.
Dated: April 9, 2015.
Mary H. Gottlieb,
Regulatory Specialist, Legislative and Regulatory Activities Division.
[FR Doc. 2015-08611 Filed 4-14-15; 8:45 am]
BILLING CODE 4810-33-P