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OCC Bulletin 2020-105
November 30, 2020
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Chief Executive Officers of All National Banks and Federal Savings Associations, Federal Branches and Agencies of Foreign Banks; Department and Division Heads; All Examining Personnel; and Other Interested Parties
On November 30, 2020, the Office of the Comptroller of the Currency (OCC) published instructions and technical specifications for preparing and submitting quantitative measurements relating to section 13 of the Bank Holding Act, commonly known as the Volcker rule. On November 14, 2019, the OCC, the Board of Governors of the Federal Reserve System, the U.S. Commodity Futures Trading Commission, the Federal Deposit Insurance Corporation, and the U.S. Securities and Exchange Commission issued a final rule revising the regulations implementing the Volcker rule, including the regulatory requirement to submit certain quantitative measurements. See OCC Bulletin 2019-56, "Volcker Rule: Final Rule." The compliance date for this final rule is January 1, 2021. Under the final rule, banking entities with significant trading assets and liabilities must submit certain quantitative measurements on a quarterly basis and in accordance with the XML schema posted on the OCC's "Volcker Rule Implementation" web page. The instructions and technical specifications conveyed by this bulletin provide the relevant XML schema and additional guidance on how to prepare and submit quantitative measurements relating to the Volcker rule.
Banks that have total consolidated assets equal to $10 billion or less and total trading assets and liabilities equal to 5 percent or less of total consolidated assets are generally exempt from the Volcker rule. See 12 CFR 44.2(r)(2) and OCC Bulletin 2019-32, "Volcker Rule: Final Rule."
Please contact Roman Goldstein, Risk Specialist, Treasury and Market Risk Policy, at (202) 649-6360 or Mark O'Horo, Counsel, Office of the Chief Counsel, at (202) 649-5510.
Jonathan V. Gould
Senior Deputy Comptroller and Chief Counsel