The Federal Reserve proposed shifting the timing of the annual stress test and capital planning cycle by three months.
Under the proposals, the planning and testing cycle beginning on Oct. 1 in a given year would be shifted to Jan. 1 of the following year, while submissions to the agencies would be due by April 5 for banks with over $50 billion in assets and July 31 for banks with $10-50 billion in assets. The new schedule would take effect with the 2015-16 planning cycle.
The OCC issued a related proposal, although its submission deadline would be April 7 for banks with over $50 billion in assets. The proposal will relieve covered banks of a requirement to finish stress tests and related reporting at “a time of year when these institutions have other year-end obligations,” the OCC said.
View the Fed’s proposal.
View the OCC’s proposal.