FDIC Releases Proposed Rulemaking to Amend Annual Stress Test Rule
June 16, 2014
Andrew Gray (202) 898-7192
WASHINGTON — The Federal Deposit Insurance Corporation (FDIC) today announced it is seeking comment on a notice of proposed rulemaking amending the FDIC's Annual Stress Test rule. The FDIC's NPR follows similar action by the Federal Reserve Board and the Office of Comptroller of the Currency on June 12.
This proposed rule would shift back the timing of the annual stress testing cycle by approximately 90 days, and clarify that institutions covered by the Annual Stress Test rule will not have to calculate their regulatory capital ratios using the Basel III advanced approaches until the stress testing cycle beginning on January 1, 2016.
The public comment period closes 60 days from publication in the Federal Register. Publication of the proposal in the Federal Register is expected shortly.
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Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's banks and savings associations, 6,730 as of March 31, 2014. It promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The FDIC receives no federal tax dollars — insured financial institutions fund its operations.
FDIC press releases and other information are available on the Internet at www.fdic.gov, by subscription electronically (go to www.fdic.gov/about/subscriptions/index.html) and may also be obtained through the FDIC's Public Information Center (877-275-3342 or 703-562-2200). PR-46-2014