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News Release 2019-62
June 4, 2019
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WASHINGTON—Because national banks and federal savings associations (FSAs) with consolidated assets between $100 billion and $250 billion will not be subject to the Dodd-Frank Act Stress Test (DFAST) requirements as of November 24, 2019, the OCC extended the deadline for compliance with the DFAST requirements for those banks to November 25, 2019.
This action is consistent with the Economic Growth, Regulatory Relief, and Consumer Protection Act’s purpose of avoiding unnecessary regulatory burden for national banks and FSAs with total consolidated assets less than $250 billion. Prior DFAST exams and OCC supervision have shown that national banks and FSAs of this size have adopted effective stress testing programs and integrated them into their general risk management tools. Therefore, requiring DFAST submissions for these banks in 2019 would provide limited supervisory value.
The OCC communicated this decision directly to affected banks in December 2018. Attached is a redacted version of the letter used to communicate this decision.
Bryan Hubbard (202) 649-6870