Description:
This report annually collects large bank holding companies' (BHCs) quantitative projections of balance sheet, income, losses, and capital across a range of macroeconomic scenarios and qualitative information on methodologies used to develop internal projections of capital across scenarios. The BHCs are required to complete the following FR Y-14A schedules: the Summary, Macro Scenario, Counterparty Credit Risk (CCR), Basel III/Dodd-Frank, and Regulatory Capital Instruments. The number of schedules each BHC completes is subject to materiality thresholds and certain other criteria.
OMB: 7100-0341
Purpose: The data are used to assess the capital adequacy of large BHCs using forward-looking projections of revenue and losses, to support supervisory stress test models and continuous monitoring efforts, and to inform the Federal Reserve's operational decision making as it continues to implement the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.
Background:
In June 2009, the Board conducted the Supervisory Capital Assessment Program (SCAP), a "stress test" that focused on identifying whether large BHCs had capital sufficient to weather a more-adverse-than-anticipated economic environment while maintaining their capacity to lend. In early 2011, the Federal Reserve continued its supervisory evaluation of the resiliency and capital adequacy processes of 19 BHCs through the Comprehensive Capital Analysis and Review (CCAR) 2011. The CCAR 2011 involved the Federal Reserve's forward-looking evaluation of the internal capital planning processes of the BHCs and their anticipated capital actions in 2011, such as increasing dividend payments or repurchasing or redeeming stock; evaluating whether these BHCs had satisfactory processes for identifying capital needs; and evaluating whether these BHCs held adequate capital to maintain ready access to funding, continue operations and meet their obligations to creditors and counterparties, and continue to serve as credit intermediaries, even under stressful conditions. During the fall of 2011, the Federal Reserve implemented the FR Y-14A/Q.
Respondent Panel:
The respondent panel comprises of any top-tier BHC (other than a foreign banking organization), that has $50 billion or more in total consolidated assets, as determined based on: (i) the average of the BHC's total consolidated assets in the four most recent quarters as reported quarterly on the BHC's Consolidated Financial Statements for Bank Holding Companies (FR Y-9C) (OMB No. 7100-0128); or (ii) the average of the BHC's total consolidated assets in the most recent consecutive quarters as reported quarterly on the BHC's FR Y-9Cs, if the BHC has not filed an FR Y-9C for each of the most recent four quarters. Participation is mandatory.
Frequency:
The following annual schedules will be reported as of September 30 each year: the Summary (all worksheets other than Trading Risk and CCR), Macro Scenario, Basel III/Dodd-Frank, and Regulatory Capital Instruments. For the annual Trading Risk and CCR worksheets (contained in the Summary schedule) and the annual CCR schedule that comprise the CCAR market shock exercise, the data will be as of a specified date in the fourth quarter.
Public Release:
The Federal Reserve has published press releases in addition to a paper describing the methodology used in the stress test in the CCAR 2012 as well as the templates for disclosure of the summary results and summary results of the latest round of bank stress tests.
