Fed Proposes Revisions to Capital Assessments, Stress Testing Reports

The Federal Reserve has announced temporary revisions to its Form FR Y-14A/Q/M, the Capital Assessments and Stress Testing Reports. The temporary revisions, which would collect data pertaining to certain aspects of the CARES Act, information on firm activity associated with various Federal Reserve lending facilities and information regarding emerging risks arising from the COVID-19 pandemic, apply to reports beginning with the July 31, 2020, or Sept. 30, 2020, as-of date.

Additionally, the Fed is seeking comments on a proposal to extend for three years, with revision, the FR Y-14A/Q/M reports to address questions related to the reporting of certain current expected credit loss and capital data, which would be applicable to reports beginning with the Dec. 31, 2020, as-of date.