Section 165 of the Dodd-Frank Wall
Street Reform and Consumer Protection Act (Dodd-Frank Act) requires
the Board to implement enhanced prudential standards for bank
holding companies and foreign banking organizations with total
consolidated assets of $50 billion or more. The enhanced prudential
standards include risk-based and leverage capital requirements,
liquidity standards, requirements for overall risk management
(including establishing a risk committee), stress test
requirements, and debt-to-equity limits for companies that the
Financial Stability Oversight Council has determined pose a grave
threat to financial stability.
The current annual burden for
Reg YY is estimated to be 59,320 hours. The proposed reporting,
recordkeeping, and disclosure requirements would increase the
estimated annual burden hours by 59,226 hours.
On behalf of this Federal agency, I certify that
the collection of information encompassed by this request complies
with 5 CFR 1320.9 and the related provisions of 5 CFR
1320.8(b)(3).
The following is a summary of the topics, regarding
the proposed collection of information, that the certification
covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a
benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control
number;
If you are unable to certify compliance with any of
these provisions, identify the item by leaving the box unchecked
and explain the reason in the Supporting Statement.
RegYY_20151125_omb.pdf
Subpart O - Section 252.158d1iii - Ongoing Reporting