FDIC, Fed, and OCC Rules for Large Bank Stress Tests

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On October 9, the FDIC, Fed, and OCC published final rules, required by section 165(i) of the Dodd-Frank Act, for annual company-run stress testing by covered institutions with total consolidated assets greater than $10 billion. The final rule requires institutions with assets greater than $50 billion to begin annual stress testing this year. The rule delays implementation for covered institutions with total consolidated assets between $10 billion and $50 billion until October 2013. The FDIC also approved a final rule that refines the deposit insurance assessment system for insured depository institutions with more than $10 billion in assets. The final rule amends the definitions used to identify concentrations in higher-risk assets to better reflect the risk posed to institutions and the FDIC. FDIC Release. Fed Release. OCC Release.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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