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Federal Register / Vol. 86, No. 21 / Wednesday, February 3, 2021 / Rules and Regulations 16 Planning horizon means the period of at least nine consecutive quarters, beginning with the quarter preceding the quarter in which the bank holding company submits its capital plan, over which the relevant projections extend.
17 Regulatory capital ratio means a capital ratio for which the Board has established minimum requirements for the bank holding company by regulation or order, including, as applicable, the bank holding companys regulatory capital ratios calculated under 12 CFR
part 217 and the deductions required under 12 CFR 248.12; except that the bank holding company shall not use the advanced approaches to calculate its regulatory capital ratios.
18 Severely adverse scenario has the same meaning as under 12 CFR part 252, subpart E.
19 Stress capital buffer requirement means the amount calculated under paragraph f of this section.
20 Supervisory stress test means a stress test conducted using a severely adverse scenario and the assumptions contained in 12 CFR part 252, subpart E.
21 U.S. intermediate holding company means the top-tier U.S.
company that is required to be established pursuant to 12 CFR 252.153.
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A Estimates of projected revenues, losses, reserves, and pro forma capital levels, including regulatory capital ratios, and any additional capital measures deemed relevant by the bank holding company, over the planning horizon under a range of scenarios, including:
1 If the bank holding company is a Category IV bank holding company, the Internal baseline scenario and at least one Internal stress scenario, as well as any additional scenarios, based on financial conditions or the macroeconomic outlook, or based on the bank holding companys financial condition, size, complexity, risk profile, or activities, or risks to the U.S.
economy, that the Federal Reserve may provide the bank holding company after giving notice to the bank holding company; or 2 If the bank holding company is not a Category IV bank holding company, any scenarios provided by the Federal Reserve, the Internal baseline scenario, and at least one Internal stress scenario;

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3 The Internal stress scenarios are not appropriate for the bank holding companys business model and portfolios, or changes in financial markets or the macro-economic outlook that could have a material impact on a bank holding companys risk profile and financial condition require the use of updated scenarios; or

ii The Board, or the appropriate Reserve Bank with concurrence of the Board, may extend the 30-day period in paragraph e4i of this section for up to an additional 60 calendar days, or such longer period as the Board or the appropriate Reserve Bank, with concurrence of the Board, determines appropriate.
iii Any updated capital plan must satisfy all the requirements of this section; however, a bank holding company may continue to rely on information submitted as part of a previously submitted capital plan to the extent that the information remains accurate and appropriate.

f
1 General. The Board will determine the stress capital buffer requirement that applies under 12 CFR 217.11 pursuant to this paragraph f. For each bank holding company that is not a Category IV bank holding company, the Board will calculate the bank holding companys stress capital buffer requirement annually. For each Category IV bank holding company, the Board will calculate the bank holding companys stress capital buffer requirement biennially, occurring in each calendar year ending in an even number, and will adjust the bank holding companys stress capital buffer requirement biennially, occurring in each calendar year ending in an odd number. Notwithstanding the previous sentence, the Board will calculate the stress capital buffer requirement of a Category IV bank holding company in a year ending in an odd number with respect to which that company makes an election pursuant to 12 CFR
252.44d2ii.

4 Adjustment of stress capital buffer requirement. In each calendar year in which the Board does not calculate a Category IV bank holding companys stress capital buffer requirement pursuant to paragraph f1 of this section, the Board will adjust the Category IV bank holding companys stress capital buffer requirement to be equal to the result of the calculation set forth in paragraph f2 of this section, using the same values that were used to
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calculate the stress capital buffer requirement most recently provided to the bank holding company, except that the value used in paragraph f2iC1 of this section will be equal to the bank holding companys planned common stock dividends expressed as a dollar amount for each of the fourth through seventh quarters of the planning horizon as set forth in the capital plan submitted by the bank holding company in the calendar year in which the Board adjusts the bank holding companys stress capital buffer requirement.
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2 Response to noticei Request for reconsideration of stress capital buffer requirement. A bank holding company may request reconsideration of a stress capital buffer requirement provided under paragraph h1 of this section.
To request reconsideration of a stress capital buffer requirement, a bank holding company must submit to the Board a request pursuant to paragraph i of this section.
ii Adjustments to planned capital distributions. Within two business days of receipt of notice of a stress capital buffer requirement under paragraph h1 or i5 of this section, as applicable, a bank holding company must:
A Determine whether the planned capital distributions for the fourth through seventh quarters of the planning horizon under the Internal baseline scenario would be consistent with effective capital distribution limitations assuming the stress capital buffer requirement provided by the Board under paragraph h1 or i5 of this section, as applicable, in place of any stress capital buffer requirement in effect; and 1 If the planned capital distributions for the fourth through seventh quarters of the planning horizon under the Internal baseline scenario would not be consistent with effective capital distribution limitations assuming the stress capital buffer requirement provided by the Board under paragraph h1 or i5 of this section, as applicable, in place of any stress capital buffer requirement in effect, the bank holding company must adjust its planned capital distributions such that its planned capital distributions would be consistent with effective capital distribution limitations assuming the stress capital buffer requirement provided by the Board under paragraph h1 or i5 of this section, as applicable, in place of any stress capital buffer requirement in effect; or 2 If the planned capital distributions for the fourth through seventh quarters
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