Stress Testing Rules for National Banks and Federal Savings Associations

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
1557-0343 Supporting Statement to Accompany Final Rule.docx	Supporting Statement A	Uploaded 2019-10-08	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
234789	Annual Disclosures		Unchanged
234788	Biennial Disclosures		Unchanged
234787	Annual Reporting		Unchanged
234786	Biennial Reporting		Unchanged
234785	Annual Recordkeeping		Unchanged
234784	Biennial Recordkeeping		Unchanged

ICR Details

OMB Control No: 1557-0343	ICR Reference No: 201910-1557-003
Status: Active	Previous ICR Reference No: 201901-1557-004
Agency/Subagency: TREAS/OCC	Agency Tracking No:
Title: Stress Testing Rules for National Banks and Federal Savings Associations
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 12/31/2019
	Date Received in OIRA: 10/10/2019
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	12/31/2022	36 Months From Approved
Responses	18	0	0
Time Burden (Hours)	6,240	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: Section 401 of the Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA) requires that the minimum threshold for national banks and Federal savings associations to conduct stress tests be revised from $10 billion to $250 billion, revise the frequency by which certain national banks and Federal savings associations would be required to conduct stress tests, and reduce the number of required stress testing scenarios from three to two. Currently, § 46.6(c) requires that each covered institution establish and maintain a system of controls, oversight, and documentation, including policies and procedures, describing the covered institution’s stress test practices and methodologies, and processes for validating and updating the covered institution’s stress test practices. The board of directors of the covered institution must approve and review these policies at least annually. Section 46.7(a) requires each covered institution to report the results of their stress tests to the OCC annually. Section 46.8(a) requires that a covered institution publish a summary of the results of its annual stress tests on its website or in any other forum that is reasonably accessible to the public. This ICR is being submitted in connection with a final rule which increases in the applicability threshold for these requirements resulting in a reduction in the estimated number of respondents. In addition the frequency of these reporting, recordkeeping, and disclosure requirements for some institutions is decreased to biennial. The existing stress test rule is approved under OMB Control No. 1557-0311 and was undergoing renewal at the time the NPR was issued. Once this ICR is approved, the OCC will discontinue OMB Control No. 1557-0311.

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Authorizing Statute(s): US Code: 12 USC 5365 Name of Law: Economic Growth, Regulatory Relief, and Consumer Protection Act
  

Citations for New Statutory Requirements: US Code: 12 USC 5365 Name of Law: Economic Growth, Regulatory Relief, and Consumer Protection Act

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
1557-AE55	Final or interim final rulemaking	84 FR 54472	10/10/2019

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 6

table that charts list of burden

IC Title	Form No.	Form Name
Annual Reporting
Annual Recordkeeping
Biennial Disclosures
Biennial Recordkeeping
Biennial Reporting
Annual Disclosures

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ICR Summary of Burden

table that charts list of burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	18	0	16	2	0	0
Annual Time Burden (Hours)	6,240	0	6,240	0	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The increase in burden is due to the fact that this is a new collection.

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Annual Cost to Federal Government:

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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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:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(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;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

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.

Certification Date: 10/10/2019

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