FRB – Posted final OMB statement related to stress testing guidance

July 20, 2021 – FRB extended for three years, without revision, recordkeeping provisions associated with stress testing guidance (FR 4202) related to high-level principles for stress test practices. The guidance applies to all supervised banks with over $10 Billion in total consolidated assets.

Guidance Background
Interagency guidance outlines high-level principles for stress testing practices. Recommend banks have a stress test framework that includes recordkeeping activities. The guidance highlights the importance of stress testing as an ongoing risk management practice that supports a banking organization’s forward-looking assessment of its risks.

Comments
FRB published an initial notice in the Federal Register (86 FR 13378) on Mar 8, 2021, requesting public comment on the extension, received no comments, and adopted an extension of FR 4202 for 3 years as proposed. On June 9, 2021, FRB published a final notice in the Federal Register (86 FR 30602).

For more information, visit www.reginfo.gov.

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