This final rule implements section 165(i) of the Dodd-Frank
Wall Street Reform and Consumer Protection Act (``Dodd-Frank Act'')
which requires certain companies to conduct annual stress tests
pursuant to regulations prescribed by their respective primary
financial regulatory agencies. Specifically, this final rule requires
national banks and Federal savings associations with total consolidated
assets over $10 billion (defined as ``covered institutions'') to
conduct an annual stress test as prescribed by this rule.
Under the final rule covered institutions are divided into two
categories: covered institutions with total consolidated assets between
$10 and $50 billion, and covered institutions with total consolidated
assets over $50 billion. Based on these categories, covered
institutions are subject to different stress test requirements and
deadlines for reporting and disclosures. A key difference between these
categories is that a national bank or Federal savings association that
qualifies as an over $50 billion covered institution as of October 9,
2012 must conduct the annual stress test under this final rule
beginning this year; other covered institutions that qualify as $10 to
$50 billion covered institutions are not subject to the stress test
requirements under this final rule until 2013.
Received Date:
October 09 2012, at 12:00 AM Eastern Daylight Time
Annual Stress Test
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