10/10/2012 FDIC, OCC issue final rules on large-bank stress tests
American Bankers AssociationThe FDIC Board and the Office of the Comptroller of the Currency yesterday issued separate but similar Dodd-Frank Act-mandated final rules requiring covered banks with more than $10 billion in total consolidated assets to conduct annual company-run stress tests.
The final rules require banks with more than $50 billion in assets to begin conducting annual stress tests this year, although both agencies reserve the authority to allow them to delay implementation on a case-by-case basis where warranted.
The FDIC and OCC anticipate releasing stress-testing scenarios in November, and those $50 billion-plus institutions will use their data as of Sept. 30 to conduct the stress tests. Results are due in January 2013.
Both agenciesí rules also delay implementation until October 2013 for covered institutions with total consolidated assets between $10 billion and $50 billion.
Read the FDIC press release.
Read the OCC press release.