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Alternative Market Briefing

Federal regulatory agencies issue final Dodd-Frank Act stress test guidance

Thursday, March 06, 2014

Komfie Manalo, Opalesque Asia:

Three federal bank regulatory agencies issued final guidance describing supervisory expectations for stress tests conducted by financial companies with total consolidated assets between $10b and $50bn.

In a joint statement, the Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, and Office of the Comptroller of the Currency said these medium-sized companies are required to conduct annual, company-run stress tests under rules issued by the agencies in October 2012 to implement a provision in the Dodd-Frank Wall Street Reform and Consumer Protection Act.

These companies are required to perform their first stress tests under the Dodd-Frank Act by March 31, 2014.

The agencies' stress test rules are flexible to accommodate different risk profiles, sizes, business mixes, market footprints, and complexity for companies in the $10bn to $50bn asset range. Consistent with this flexibility, the final guidance describes general supervisory expectations for these companies' Dodd-Frank Act stress tests, and, where appropriate, provides examples of practices that would be consistent with those expectations.

The final guidance is similar to proposed guidance issued by the agencies last year. The agencies clarified certain aspects in response to comments receive......................

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