Section 165 of the Dodd-Frank Wall
Street Reform and Consumer Protection Act (Dodd-Frank Act) requires
the Board to implement Regulation YY - Enhanced Prudential
Standards (12 CFR 252) for bank holding companies (BHCs) and
foreign banking organizations (FBOs) 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
(FSOC) has determined pose a grave threat to financial
stability.
US Code:
12 USC 1844(c)(1)(A) Name of Law: Bank Holding Company Act
US Code: 12
USC 3106(a) Name of Law: International Banking Act
US Code: 12
USC 5361 Name of Law: Dodd-Frank Wall Street Reform and
Consumer Protection Act
PL: Pub.L. 111 - 203 124 Name of Law:
Dodd-Frank Wall Street Reform and Consumer Protection Act
The current annual burden for
FR YY is estimated to be 118,842 hours. The proposed reporting
requirements would increase the estimated annual burden hours by
422 hours. The estimated average hours per response for the
reporting requirements in section 252.85(b) would be 40 hours and
the estimated average hours per response for the reporting
requirements in section 252.87(b) would be 1 hour.
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.
FRYY_20180216_omb.pdf
Disclosure Subpart P, section 252.167