(a) Applicability for foreign
banking organizations with total consolidated assets of more than
$10 billion but less than $50 billion.
(1) General applicability. Subject to the initial applicability provisions of paragraph (a)(3)
of this section, a foreign banking organization must comply with the
stress test requirements set forth in this section beginning on the
first day of the ninth quarter following the date on which its total
consolidated assets exceed $10 billion.
(2) Total consolidated
assets. For purposes of this subpart, total consolidated assets
of a foreign banking organization are equal to the average of the
total assets for the two most recent periods as reported by the foreign
banking organization on the FR Y-7. Total consolidated assets are
measured on the as-of date of the most recent FR Y-7 used in the calculation
of the average.
(3) Initial applicability. A foreign banking
organization that, as of June 30, 2015, has total consolidated assets
of $10 billion or more must comply with the requirements of this subpart
beginning on July 1, 2016.
(4) Cessation of requirements. A foreign
banking organization will remain subject to the requirements of this
subpart until the earlier of the date on which:
(i) Its
reported total consolidated assets on the FR Y-7 are below $10 billion
for each of four consecutive calendar quarters; and
(ii) It becomes subject to the requirements
of subpart N or subpart O of this subpart, as applicable.
(b) Applicability
for foreign savings and loan holding companies with total consolidated
assets of more than $10 billion.
(1) General. A foreign savings and loan holding company must comply with the
stress test requirements set forth in this section beginning on the
first day of the ninth quarter following the date on which its total
consolidated assets exceed $10 billion.
(2) Total consolidated
assets. Total consolidated assets of a foreign savings and loan
holding company for purposes of this subpart are equal to the average
of total assets for the four most recent consecutive quarters as reported
by the foreign savings and loan holding company on its applicable
regulatory report. If the foreign savings and loan holding company has not
filed four regulatory reports, total consolidated assets are equal
to the average of total assets as reported for the most recent period
or consecutive periods. Total consolidated assets are measured on
the as-of date of the most recent regulatory reporting form used in
the calculation of the average.
(3) Cessation
of requirements. A foreign savings and loan holding company will
remain subject to requirements of this subpart until the date on which
the foreign savings and loan holding company’s total consolidated
assets on its applicable regulatory report are below $10 billion for
each of four consecutive calendar quarters.
