Section 265.13 - Functions delegated to the Director of the Division of Financial StabilityThe Director of the Division of Financial Stability (or the Director's delegatee) is authorized:
(a)Bank holding companies; savings and loan holding companies; financial holding companies; change in bank control; mergers -(1)Stress tests.(i) Jointly with the Director of the Division of Supervision and Regulation, with the concurrence of the Chair of the Committee on Supervision and Regulation: (A) To develop and issue scenarios, including, but not limited to, the baseline scenario and the severely adverse scenario, that the Board would use to conduct analyses under § 238.132 of Regulation LL (12 CFR 238.132 ) or § 252.44 of Regulation YY (12 CFR 252.44 ) and that a company would use to conduct its stress tests under § 238.143 of Regulation LL (12 CFR 238.143 ) or § 252.14 or § 252.54 of Regulation YY (12 CFR 252.14 or 252.54 ), as appropriate, provided that no significant policy issues are raised; and(B) To develop and issue additional scenarios or additional components for use in the severely adverse scenario under § 238.132(b) and 238.143(b)(2) and (3) of Regulation LL (12 CFR 238.132(b) and 238.143(b)(2) and (3) ), and §§ 252.14(b)(2) and (3) , 252.44(b) , and 252.54(b)(2) and (3) of Regulation YY (12 CFR 252.14(b)(2) and (3) , 252.44(b) , and 252.54(b)(2) and (3) ), that the Board would use to conduct analyses under § 238.132 of Regulation LL (12 CFR 238.132 ) or § 252.44 of Regulation YY (12 CFR 225.44 ) and that a company would use to conduct its stress tests under § 238.143 of Regulation LL (12 CFR 238.143 ) or § 252.14 or § 252.54 of Regulation YY (12 CFR 252.14 or 252.54 ), as appropriate, provided that no significant policy issues are raised;(b)Capital plans.(1) Jointly with the Director of the Division of Supervision and Regulation, with the concurrence of the Vice Chair for Supervision: (i) To provide a firm subject to the Board's capital plan rules with notice of its stress capital buffer requirement and an explanation of the results of the supervisory stress test pursuant to §§ 225.8(h)(1) of Regulation Y (12 CFR 225.8(h)(1) ) and 238.170(h)(1) of Regulation LL (12 CFR 238.170(h)(1) ) ; and(ii) To provide a firm subject to the Board's capital plan rules with its final stress capital buffer requirement and confirmation of its final planned capital distributions pursuant to §§ 225.8(h)(4)(i) of Regulation Y (12 CFR 225.8(h)(4)(i) ) and 238.170(h)(4)(i) of Regulation LL (12 CFR 238.170(h)(4)(i) ) .87 FR 54003, Sept. 1, 2022, as amended at 88 FR 32622, May 22, 2023 87 FR 54003, 9/1/2022; as amended at 88 FR 32622, 5/22/2023