The Office of the Comptroller of the Currency (OCC) is inviting public comments on the renewal of an information collection related to "Market Risk," as part of its ongoing effort to reduce paperwork and respondent burden, in line with the Paperwork Reduction Act of 1995. According to this rule, national banks and federal savings associations with significant market risk exposure are required to adhere to specific guidelines for managing and disclosing this risk. Public comments on the necessity, accuracy, and ways to improve the information collection process are due by June 17, 2025. The OCC aims to ensure that these financial institutions maintain sufficient capital adequacy for their market risk level through these regulations.
Simple Explanation
The Office of the Comptroller of the Currency (OCC) is asking people to share their thoughts on a plan that makes big banks tell how they handle risks in the market, aiming to make sure they have enough money to cover these risks. They want ideas on making the rules easier and less time-consuming, and people need to give their ideas by June 17, 2025.