This story appeared in Bank Digest.
The Federal Reserve Board is proposing to extend for three years, with revision, an existing information collection entitled "Capital Assessments and Stress Testing Reports." This collection includes three separate reports—the FR Y-14A, FR Y-14Q, and FR Y-14M—and provides the Fed 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 Fed has issued two notices regarding the extension and renewal of this collection—one focusing on incorporating non-Current Expected Credit Loss (CECL) methodology revisions into the FR Y-14A/Q/M reports and a second notice focusing on incorporating the CECL methodology into these reports. Comments on both notices must be received by Sept. 30, 2019.