View Information Collection Request (ICR) Package
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Please note that the OMB number and expiration date may not have been determined when this Information Collection Request and associated Information Collection forms were submitted to OMB. The approved OMB number and expiration date may be found by clicking on the Notice of Action link below.
View ICR - OIRA Conclusion
OMB Control No:
7100-0341
ICR Reference No:
202009-7100-006
Status:
Historical Active
Previous ICR Reference No:
202009-7100-004
Agency/Subagency:
FRS
Agency Tracking No:
FR Y-14
Title:
Capital Assessments and Stress Testing Reports
Type of Information Collection:
Revision of a currently approved collection
Common Form ICR:
No
Type of Review Request:
Emergency
Approval Requested By:
11/03/2020
OIRA Conclusion Action:
Approved without change
Conclusion Date:
11/09/2020
Retrieve Notice of Action (NOA)
Date Received in OIRA:
11/03/2020
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
05/31/2021
6 Months From Approved
09/30/2023
Responses
673
0
637
Time Burden (Hours)
858,799
0
838,216
Cost Burden (Dollars)
0
0
0
Abstract:
The Capital Assessments and Stress Testing Reports (FR Y-14A/Q/M) are currently applicable to top-tier U.S. bank holding companies (BHCs) and U.S. intermediate holding companies of foreign banking organizations (IHCs) with $100 billion or more in total consolidated assets. Covered savings and loan holding companies (SLHCs) (collectively with BHCs, IHCs, and SLHCs, holding companies) with $100 billion or more in total consolidated assets became respondents to the FR Y-14Q and FR Y-14M effective June 30, 2020, and will become respondents to the FR Y 14A effective December 31, 2021. The FR Y-14A, FR Y-14Q, and FR Y-14M reports are used to support the Board’s Comprehensive Capital Analysis and Review (CCAR) and Dodd-Frank Act Stress Test (DFAST) exercises and supervisory stress test models, and also are used in connection with the supervision and regulation of these financial institutions.
Emergency Justfication:
The delegation of authority to the Board from OMB that permits the Board to approve collections of information under the Paperwork Reduction Act includes the authority to temporarily approve a collection of information without seeking public comment. To exercise this authority, the Board must determine that a new collection of information or a change to an existing collection must be instituted quickly and that public participation in the approval process would substantially interfere with the Board’s ability to perform its statutory obligation. Following the temporary approval of an information collection, the Board must conduct a normal delegated review of the collection within six months, including publishing in the Federal Register a notice seeking public comment. The Board has temporarily revised the FR Y-14A/Q/M reports to implement changes necessary to conduct stressed analyses in connection with the resubmission of firms’ capital plans, including consideration of the global market shock (GMS) component, using data as of June 30, 2020.
Authorizing Statute(s):
US Code:
12 USC 1844(c)
Name of Law: Bank Holding Company Act of 1956
US Code:
12 USC 5365(i)
Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
US Code:
12 USC 1467a(b)
Name of Law: Home Owners’ Loan Act
US Code:
12 USC 1844
Name of Law: Bank Holding Company Act of 1956
US Code:
12 USC 5311(a)(1)
Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
US Code:
12 USC 5365
Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
Citations for New Statutory Requirements:
None
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
Not associated with rulemaking
Federal Register Notices & Comments
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
6
IC Title
Form No.
Form Name
Attestation ongoing
FR Y-14A/Q/M, FR Y-14A/Q/M
Attestation Cover Page
,
Attestation Cover Page (Annual)
FR Y-14A
FR Y-14A
Capital Assessments and Stress Testing (Annual)
FR Y-14M
FR Y-14M
Capital Assessments and Stress Testing (Monthly)
FR Y-14Q
FR Y-14Q
Capital Assessments and Stress Testing (Quarterly)
One-time June 30, 2020, submission
Ongoing automation revisions
ICR Summary 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
673
637
0
36
0
0
Annual Time Burden (Hours)
858,799
838,216
0
20,583
0
0
Annual Cost Burden (Dollars)
0
0
0
0
0
0
Burden increases because of Program Change due to Agency Discretion:
Yes
Burden Increase Due to:
Miscellaneous Actions
Burden decreases because of Program Change due to Agency Discretion:
No
Burden Reduction Due to:
Short Statement:
The estimated total annual burden for the FR Y-14 is 838,216 hours, and would increase to 858,799 hours as a result of these temporary revisions.
Annual Cost to Federal Government:
$2,677,200
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.
Yes
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?
Yes
Agency Contact:
Richard Palmer 202 502-8438 Richard.Palmer@ferc.gov
Common Form ICR:
No
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:
11/03/2020
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