,i  #aaeth ,,congress  #ast ,session    
,h4 ,r4 #dbic  ,,in ,,the ,,house ,,of  
,,representatives  ,november #g1        
#bjag,mr4 ,zeldin introduced the        
following bill2 which was referred to   
the ,committee on ,financial ,services  
,a ,,bill  ,to reform the ,comprehensive
 ,capital ,analysis and ,review process1
 the ,dodd-,frank ,act ,stress ,test    
process1 and for other purposes4  #a4   
,short title ,this ,act may be cited as 
the ,stress ,test ,improvement ,act of  
#bjag4  #b4 ,,ccar and ,,dfast reforms  
,section #afe7;i7 of the ,dodd-,frank   
,wall ,street ,reform and ,consumer     
,protection ,act 7#ab ,u4,s4,c4         
#ecfe7;i77 is amended--  7#a7 in        
paragraph 7#a7-- 7,a7 in subparagraph   
7,b7--  7i7 by amending clause 7i7 to   
read as follows3  7i7 shall--  7,i7     
issue regulations1 after providing for  
public notice and comment1 that provide 
for at least #c different sets of       
conditions under which the evaluation   
required by this subsection shall be    

conducted1 including baseline1 adverse1 
and severely adverse1 and methodologies1
 including models used to estimate      
losses on certain assets1 and the ,board
 of ,governors shall not carry out any  
such evaluation until #fj days after    
such regulations are issued2 and  7,,ii7
 provide copies of such regulations to  
the ,comptroller ,general of the ,united
 ,states and the ,panel of ,economic    
,advisors of the ,congressional ,budget 
,office before publishing such          
regulations2  2  7ii7 in clause 7iv71 by
 striking and at the end2  7iii7 in     
clause 7v71 by striking the period and  
inserting the following3 1 including any
 results of a resubmitted test22 and    
7iv7 by adding at the end the following3
  7vi7 shall1 in establishing the       
severely adverse condition under clause 
7i71 provide detailed consideration of  
the model's effects on financial        
stability and the cost and availability 
of credit2  7vii7 shall1 in developing  
the models and methodologies and        

providing them for notice and comment   
under this subparagraph1 publish a      
process to test the models and          
methodologies for their potential to    
magnify systemic and institutional risks
 instead of facilitating increased      
resiliency2  7viii7 shall design and    
publish a process to test and document  
the sensitivity and uncertainty         
associated with the model system's data 
quality1 specifications1 and            
assumptions2 and  7ix7 shall communicate
 the range and sources of uncertainty   
surrounding the models and              
methodologies4  2 and  7,b7 by adding at
 the end the following3  7,c7 ,,ccar    
requirements  7i7 ,parameters and       
consequences applicable to ,,ccar ,the  
requirements of subparagraph 7,b7 shall 
apply to ,,ccar4  7ii7 ,two-year        
limitation ,the ,board of ,governors may
 not subject a company to ,,ccar more   
than once every two years4  7iii7       
,mid-cycle resubmission ,if a company   
receives a quantitative objection to1 or

 otherwise desires to amend the         
company's capital plan1 the company may 
file a new streamlined plan at any time 
after a capital planning exercise has   
been completed and before a subsequent  
capital planning exercise4  7iv7        
,limitation on qualitative capital      
planning objections ,in carrying out    
,,ccar1 the ,board of ,governors may not
 object to a company's capital plan on  
the basis of qualitative deficiencies in
 the company's capital planning process4
  7v7 ,company inquiries ,the ,board of 
,governors shall establish and publish  
procedures for responding to inquiries  
from companies subject to ,,ccar1       
including establishing the time frame in
 which such responses will be made1 and 
make such procedures publicly available4
  7vi7 ,,ccar defined ,for purposes of  
this subparagraph and subparagraph 7,e71
 the term ,,ccar means the              
,comprehensive ,capital ,analysis and   
,review established by the ,board of    
,governors4  2 and  7#b7 in paragraph   

7#b77;,a71 by striking semiannual and   
inserting annual4