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Federal Register / Vol. 86, No. 21 / Wednesday, February 3, 2021 / Rules and Regulations
Revisions: 17,280 hours; FR Y14
Attestation On-going Attestation: 33,280
hours.
General description of report: This family of information collections is composed of the following three reports:
The annual 37 FR Y14A collects quantitative projections of balance sheet, income, losses, and capital across a range of macroeconomic scenarios and qualitative information on methodologies used to develop internal projections of capital across scenarios.
The quarterly FR Y14Q collects granular data on various asset classes, including loans, securities, trading assets, and pre-provision net revenue for the reporting period.
The monthly FR Y14M is comprised of three retail portfolioand loan-level schedules, and one detailed address-matching schedule to supplement two of the portfolio and loan-level schedules.
The data collected through the FR Y
14A/Q/M reports provide the Board with the information needed to help ensure that large firms have strong, firm-wide risk measurement and management processes supporting their internal assessments of capital adequacy and that their capital resources are sufficient given their business focus, activities, and resulting risk exposures.
The reports are used to support the Boards annual CCAR and Dodd-Frank Act Stress Test DFAST exercises, which complement other Board supervisory efforts aimed at enhancing the continued viability of large firms, including continuous monitoring of firms planning and management of liquidity and funding resources, as well as regular assessments of credit, market and operational risks, and associated risk management practices. Information gathered in this data collection is also used in the supervision and regulation of respondent financial institutions.
Respondent firms are currently required to complete and submit up to 17 filings each year: One annual FR Y14A filing, four quarterly FR Y14Q filings, and 12
monthly FR Y14M filings. Compliance with the information collection is mandatory.
Current Actions: As previously described in this notice, the Board proposed to make several FR Y14A/Q/
M revisions. Certain revisions would only be applicable to firms subject to Category IV or Category IIII standards, while other revisions would be 37 In certain circumstances, a BHC, IHC, or SLHC
may be required to re-submit its capital plan. See 12 CFR 225.8e4; 12 CFR 238.170e4. Firms that must re-submit their capital plan generally also must provide a revised FR Y14A in connection with their resubmission.

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applicable to all BHCs, IHCs, and SLHCs. The Board has adopted all revisions as proposed, except that some revisions are effective for the December 31, 2020, as of date, and some are effective for the December 31, 2021, as of date.
Firms Subject to Category IV standards As a result of the adopted changes to company-run stress testing requirements, the Board has no longer required that firms subject to Category IV standards report FR Y14A Schedule ASummary, Schedule BScenario, Schedule FBusiness Plan Changes, and Appendix ASupporting Documentation, which are used to report a firms company-run stress test results. Firms subject to Category IV
standards are no longer required to submit these schedules beginning with the December 31, 2020, as of date.
However, firms subject to Category IV
standards are still required to complete all remaining FR Y14A schedules, as they are necessary for the Board to run its supervisory stress test. The Board believes that the detailed balance sheet information collected on a monthly and quarterly basis from firms subject to Category IV standards on the FR Y14Q
and FR Y14M is crucial for maintaining the integrity of the stress tests, monitoring financial stability, and supervising those firms.
Firms Subject to Category IIII
Standards As previously outlined, firms subject to Category IIII standards are still required to report FR Y14A, Schedule ASummary. To conform the FR Y14
reports with the stress test assumption changes made per the stress capital buffer rule, the Board has created two sub-schedules for all items on the FR Y
14A, Schedule A, effective for the December 31, 2020, as of date: 1
DFAST, where a firm would not incorporate the effects of material business plan changes and 2 CCAR, where a firm would incorporate the effects of business plan changes.
Specifically, firms subject to Category IIII standards are required to report a version of FR Y14A, Schedule A.1.a Income Statement, Schedule A.1.b Balance Sheet, Schedule A.1.c.1
Standardized RWA, Schedule A.1.d Capital, Schedule A.2.aRetail Balance and Loss, Schedule A.3AFS/HTM
Securities, Schedule A.4Trading, Schedule A.5Counterparty Credit Risk, Schedule A.6Operational Risk, and Loss Projections, and Schedule A.7Pre-Provision Net Revenue, that incorporates the effects of business plan changes, as well as a version of these
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schedules and items that does not incorporate the effects of material business plan changes. For Schedule A.1.d, firms subject to Category IIII
standards are still required to report two sub-schedules with different capital actions, along with the income and balance sheet information reported in the appropriate sub-schedule. In addition, effective for the December 31, 2020, as of date, firms subject to Category IIII standards are only required to report FR Y14A, Schedule F under the Internal baseline and supervisory severely adverse scenarios.
All BHCs and IHCs All BHCs and IHCs are still required to report FR Y14A, Schedule C
Regulatory Capital Instruments, and the stress test assumption changes made per the stress capital buffer rule create a need for firms to provide certain data excluding the impact of material business plan changes. As a result, the Board has created two sub-schedules for all items on the FR Y14A, Schedule C:
1 SCB, where a firm does not incorporate the effects of material business plan changes and 2 CCAR, where a firm does incorporate the effects of business plan changes.
Specifically, all BHCs and IHCs are required to report a version of FR Y
14A, Schedule C that incorporates the effects of material business plan changes, as well as a version of this schedule and items that does not incorporate these effects. These revisions are effective for the December 31, 2020, as of date.
In order to be able to assess whether a firms planned capital distributions included in its capital plan are consistent with any effective capital distribution limitations that would apply under the firms baseline projections, as required by the capital plan rule, the Board has added four items to FR Y14A, Schedule C. These items capture baseline projections of a firms common equity tier 1 capital ratio, tier 1 capital ratio, total capital ratio, and net income. These revisions are effective for the December 31, 2020, as of date.
SLHCs In order to assess compliance with the stress testing and capital plan rules, the Board has required SLHCs subject to Category II, or III standards to submit FR
Y14A, Schedule BScenario, and has required SLHCs subject to Category II, III, or IV standards to submit FR Y14A, Schedule CRegulatory Capital Instruments. These revisions align with the spirit of the tailoring rule, as it would require all firms subject to
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