On October 9, 2012, the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) announced the final rule regarding banking stress tests mandated under Section 165 of the Dodd-Frank Act. Under Dodd-Frank, federal banking regulators were tasked with creating a mechanism whereby federally regulated financial companies with total consolidated assets of more than $10 billion would conduct annual company-run stress tests. Under the published rule, regulated financial institutions with total consolidated assets of $50 billion or greater are required to begin conducting stress tests this year. These institutions are supposed to use financial data as of September 30, 2012, with results due in January of 2013. For regulated institutions with total consolidated assets between $10 billion and $50 billion, the final rule extends the time for compliance until October 2013. Financial regulators are expected to release specific stress testing scenarios and additional guidance next month. (“Large Bank Stress Test Final Rule Published by OCC, FDIC,” Compliance Week, October 9, 2012).