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FOR IMMEDIATE RELEASE
August 16, 2012
Contact: Bryan Hubbard
OCC Proposes Annual Stress Test Reporting Requirements for Covered Institutions with Consolidated Assets of $50 Billion or More
WASHINGTON — The Office of the Comptroller of the Currency (OCC) today published a notice of a proposed information collection for comment in the Federal Register regarding annual stress test reporting.
The notice is titled “Company-Run Annual Stress Test Reporting Template and Documentation for Covered Institutions with Total Consolidated Assets of $50 Billion or More under the Dodd-Frank Wall Street Reform and Consumer Protection Act,” and comments on the notice are requested by October 15, 2012.
Section 165(i)(2) of the Dodd-Frank Wall Street Reform and Consumer Protection Act requires certain financial companies with total consolidated assets over $10 billion, including national banks and federal savings associations, to conduct annual stress tests and requires the primary financial regulatory agency of those financial companies to issue regulations implementing the stress test requirements. On January 24, 2012, the OCC published a notice of proposed rulemaking implementing the section 165(i)(2) annual stress test requirement. The notice of proposed information collection published today describes the reports required in order for covered institutions with consolidated assets of $50 billion or more to meet the reporting requirements of section 165(i)(2). Copies of the reporting templates referenced in the notice may be found below.
The OCC will publish a separate proposal addressing the reports required to be filed by covered institutions with assets between $10 and $50 billion.
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