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Federal Register / Vol. 86, No. 21 / Wednesday, February 3, 2021 / Rules and Regulations Subpart ESupervisory Stress Test Requirements for Certain U.S. Banking Organizations With $100 Billion or More in Total Consolidated Assets and Nonbank Financial Companies Supervised by the Board 10. Amend 252.44 by revising paragraphs a3 and d to read as follows:

252.44

Analysis conducted by the Board.

a
3 In conducting the analysis, the Board will not incorporate changes to a firms business plan that are likely to have a material impact on the covered companys capital adequacy and funding profile in its projections of
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losses, net income, pro forma capital levels, and capital ratios.

d Frequency of analysis conducted by the Board1 General. Except as provided in paragraph d2 of this section, the Board will conduct its analysis of a covered company according to the frequency in Table 1 to 252.44d1.

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TABLE 1 TO 252.44D1
If the covered company is a:

Then the Board will conduct its analysis:

Global systemically important BHC
Category II bank holding company
Category II U.S. intermediate holding company
Category III bank holding company
Category III U.S. intermediate holding company
Category IV bank holding company
Category IV U.S. intermediate holding company
Nonbank financial company supervised by the Board

Annually.
Annually.
Annually.
Annually.
Annually.
Biennially, occurring in each year ending in an even number.
Biennially, occurring in each year ending in an even number.
Annually.

2 Change in frequency. i The Board may conduct a stress test of a covered company on a more or less frequent basis than would be required under paragraph d1 of this section based on the companys financial condition, size, complexity, risk profile, scope of operations, or activities, or risks to the U.S. economy.
ii A Category IV bank holding company or Category IV U.S.
intermediate holding company may elect to have the Board conduct a stress test with respect to the company in a year ending in an odd number by providing notice to the Board and the appropriate Federal Reserve Bank by January 15 of that year. Notwithstanding the previous sentence, such a company may elect to have the Board conduct a stress test with respect to the company in the year 2021 by providing notice to the Board and the appropriate Federal Reserve Bank by April 5, 2021.
3 Notice and responsei Notification of change in frequency. If the Board determines to change the frequency of the stress test under paragraph d2i of this section, the Board will notify the company in writing and provide a discussion of the basis for its determination.
ii Request for reconsideration and Board response. Within 14 calendar days of receipt of a notification under paragraph d3i of this section, a covered company may request in writing that the Board reconsider the requirement to conduct a stress test on a more or less frequent basis than would be required under paragraph d1 of this section. A covered companys request for reconsideration must include an explanation as to why the request for
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reconsideration should be granted. The Board will respond in writing within 14
calendar days of receipt of the companys request.
Subpart FCompany-Run Stress Test Requirements for Certain U.S. Bank Holding Companies and Nonbank Financial Companies Supervised by the Board 11. Amend 252.54 revising paragraph b2iB to read as follows:

252.54

Stress test.

b
2
i
B Is not a Category IV bank holding company.

12. Amend 252.56 by revising paragraph a2 to read as follows:
252.56

Methodologies and practices.

a
2 The potential impact on the regulatory capital levels and ratios applicable to the covered bank, and any other capital ratios specified by the Board, and in doing so must:
i Incorporate the effects of any capital action over the planning horizon and maintenance of an allowance for loan losses or adjusted allowance for credit losses, as appropriate, for credit exposures throughout the planning horizon; and ii Exclude the impacts of changes to a firms business plan that are likely to have a material impact on the covered companys capital adequacy and funding profile.

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13. Amend 252.58 by revising paragraph a1 to read as follows:

252.58

Disclosure of stress test results.

a
1 In general. A covered company must publicly disclose a summary of the results of the stress test required under 252.54 within the period that is 15
calendar days after the Board publicly discloses the results of its supervisory stress test of the covered company pursuant to 252.46b, unless that time is extended by the Board in writing.

Appendix B to Part 252Amended 14. Amend appendix B to part 252 by removing and reserving section 2.6.

By order of the Board of Governors of the Federal Reserve System.
Ann Misback, Secretary of the Board.
FR Doc. 202102182 Filed 2221; 8:45 am BILLING CODE P

NATIONAL CREDIT UNION
ADMINISTRATION
12 CFR Part 791
Docket No. NCUA20200098
RIN 3133AF28

Role of Supervisory Guidance National Credit Union Administration NCUA.
ACTION: Final rule.
AGENCY:

The NCUA Board is adopting a final rule that codifies the Interagency Statement Clarifying the Role of
SUMMARY:

E:FRFM03FER1.SGM

03FER1