Featured Product

    OCC Publishes Multiple Updates for Financial Sector Entities

    April 08, 2022

    The Office of the Comptroller of the Currency (OCC) published its Community Developments Investments newsletter, finalized a rule amending its suspicious activity report (SAR) regulations, revised certain booklets of the Comptroller’s Licensing Manual, updated the "Commercial Real Estate Lending" booklet of the Comptroller's Handbook, and provided points of contact for banks’ computer-security incident notifications. Additionally, OCC published the views of the Acting Comptroller Michael J. Hsu on architecture of stablecoins, management of tail risks, and large bank resolvability.

    Below are key highlights of the recent updates:

    • The latest edition of Community Developments Investments highlights how banks can collaborate with community development financial institutions, minority depository institutions, and other community-based groups to help rebuild communities recovering from the COVID-19 pandemic and natural disasters. The newsletter explains federal emergency programs that have provided loans, grants, and other resources for low- and moderate-income and minority communities and businesses recovering from the disproportionate effects of the pandemic. The newsletter highlights bank-community partnerships that have helped communities rebuild following disasters and the pandemic. 
    • The final rule on SAR regulations modifies the requirements for national banks and federal savings associations, including federal branches and agencies of foreign banks licensed or chartered by OCC, to file SARs. It amends the SAR regulations to allow the OCC to issue exemptions from the requirements of those regulations upon request from a financial institution subject to those regulations. The final rule takes effect on May 01, 2022. 
    • OCC revised the “General Policies and Procedures,” “Management Interlocks,” and “Public Notice and Comments” booklets of the Comptroller’s Licensing Manual. The revised licensing booklets reflect recent updates to 12 CFR 5 and other regulations, remove references to outdated guidance and provide current reference, and make other minor modifications and corrections.
    • OCC issued version 2.0 of the "Commercial Real Estate Lending" booklet of the Comptroller's Handbook. This booklet discusses risks and risk management practices associated with commercial real estate. This booklet also provides examiners with a framework for evaluating commercial real estate lending activities. The updated booklet reflects changes made to laws and regulations since this booklet was last updated, reflects OCC issuances published and rescinded since this booklet was last updated, and revises certain content for general clarity. It also includes clarifying edits regarding supervisory guidance, sound risk management practices, and legal language.
    • Effective May 01, 2022, banks must use the designated points of contact to satisfy the incident notification requirements established in the interagency final rule for banks and their bank service providers dated November 23, 2021. A bank must notify OCC after the bank determines that a notification incident has occurred, and OCC must receive this notice as soon as possible and no later than 36 hours after the bank’s determination. Banks may satisfy the notification requirement of the final rule by contacting their supervisory office or by using BankNet and/or BankNet Help Desk to communicate a notification incident.


    Related Links


    Keywords: Americas, US, Banking, Covid-19, Credit Risk, Suspicious Activity Report, AML CFT, Comptroller Handbook, Licensing, Large Banks, Commercial Real Estate, Lending, Incident Reporting, Stablecoins, Cyber Risk, Resolution Framework, Basel, Too-big-to-fail, Regulatory Capital, OCC

    Featured Experts
    Related Articles

    EBA Sets Out Roadmap for 2023, Updates Reporting Framework 3.2

    The European Banking Authority (EBA) published its work program for 2023 as well as the technical package for phase 3 of version 3.2 of its reporting framework.

    September 30, 2022 WebPage Regulatory News

    FED Announces Launch of Climate Scenario Analysis Exercise in 2023

    The Board of Governors of the Federal Reserve System (FED) announced a pilot climate scenario analysis exercise for six largest banks in the U.S.

    September 29, 2022 WebPage Regulatory News

    BIS Paper Studies Impact of Fintech Lending on Small Businesses in US

    The Bank for International Settlements (BIS) published a paper that studies impact of fintech lending on credit access for small businesses in U.S.

    September 26, 2022 WebPage Regulatory News

    UK Regulators Issue CRR Changes and Stress Test Scenarios for Banks

    The Prudential Regulation Authority (PRA) issued the policy statement PS8/22 to amend the Own Funds and Eligible Liabilities (CRR) Part of the PRA Rulebook and update the supervisory statement SS7/13 titled "Definition of capital (CRR firms).

    September 26, 2022 WebPage Regulatory News

    EBA Launches EU-Wide Transparency Exercise in 2022

    The European Banking Authority (EBA) launched the EU-wide transparency exercise for 2022, with results of the exercise expected to be published at the beginning of December, along with the annual Risk Assessment Report.

    September 23, 2022 WebPage Regulatory News

    SRB on CRR Quick-Fix to Policy for Multiple Point of Entry Banks

    The Single Resolution Board (SRB) welcomed the adoption of the review of the Capital Requirements Regulation, or CRR, also known as the "CRR quick-fix."

    September 22, 2022 WebPage Regulatory News

    EC Rule Lists Advanced Economies for Market Risk Capital Calculations

    The European Commission (EC) recently adopted the Delegated Regulation 2022/1622, which sets out the regulatory technical standards to specify the countries that constitute advanced economies for the purpose of specifying risk-weights for the sensitivities to equity.

    September 21, 2022 WebPage Regulatory News

    EBA Publishes Final Regulatory Standards on STS Securitizations

    The European Banking Authority (EBA) published the final draft regulatory technical standards specifying and, where relevant, calibrating the minimum performance-related triggers for simple.

    September 20, 2022 WebPage Regulatory News

    ECB Further Reviews Costs and Benefits Associated with IReF

    The European Central Bank (ECB) is undertaking the integrated reporting framework (IReF) project to integrate statistical requirements for banks into a standardized reporting framework that would be applicable across the euro area and adopted by authorities in other EU member states.

    September 15, 2022 WebPage Regulatory News

    EBA Publishes Funding Plans Report, Receives EMAS Certification

    The European Banking Authority (EBA) has been awarded the top European Standard for its environmental performance under the European Eco-Management and Audit Scheme (EMAS).

    September 15, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8523