Section 165 of the Dodd-Frank Wall
Street Reform and Consumer Protection Act (Dodd-Frank Act)
authorizes the Board to implement enhanced prudential standards for
certain bank holding companies (BHCs), nonbank financial companies
supervised by the Board (nonbank systemically important financial
institutions, or nonbank SIFIs), and foreign banking organizations
(FBOs). Section 165 also imposes requirements relating to stress
tests on the companies listed above and certain other financial
companies, including state member banks (SMBs). The Board has
relied on this authority to enact Regulation YY - Enhanced
Prudential Standards (12 CFR Part 252), which applies to BHCs and
FBOs with total consolidated assets of $100 billion or more,
nonbank SIFIs, and U.S. intermediate holding companies (IHCs) of
FBOs with total consolidated assets of $100 billion or more, as
well as SMBs with total consolidated assets of $250 billion or
more. The enhanced prudential standards and other requirements
contained in Regulation YY 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) Name of Law: Bank Holding Company Act of 1956
US Code: 12
USC 5365 Name of Law: Dodd-Frank Wall Street Reform and
Consumer Protection Act
US Code: 12
USC 3106(a) Name of Law: International Banking Act of 1978
US Code: 12
USC 5361 Name of Law: Dodd-Frank Wall Street Reform and
Consumer Protection Act
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_20241014_omb.pdf
Disclosure Section 252.167