Featured Product

    OCC Releases Bank Supervision Operating Plan for Fiscal Year 2020

    October 01, 2019

    The OCC Committee on Bank Supervision released the bank supervision operating plan for fiscal year 2020. The 2020 plan outlines the supervisory priorities of OCC and aligns with the Strategic Plan of OCC for fiscal years 2019–2023 and with the priorities of the National Risk Committee. The plan provides the foundation for policy initiatives and supervisory strategies as applied to national banks, federal savings associations, federal branches, federal agencies, and technology service providers. Additionally, OCC plans to provide periodic updates about supervisory priorities through the Semiannual Risk Perspective in the Fall and Spring.

    OCC will adjust supervisory strategies, as appropriate, during the fiscal year in response to emerging risks and supervisory priorities. For fiscal year 2020, in addition to the baseline supervision to assign ratings, the development of supervisory strategies will focus on the following risk areas: 

    • Cyber-security and operational resilience, with emphasis on threat vulnerability and detection, access controls and data management, and management of third-party connections
    • Preparedness for the current expected credit losses, or CECL, accounting standard, including bank implementation plans and use of third-party vendors to assist in methodology, modeling, and management information systems development
    • Preparation for the potential phase-out of the London Interbank Offering Rate, or LIBOR, as a reference rate after 2021, including impact assessments, correlated risk assessments, vendor management, and change management related to the implementation of an alternative index for pricing loans, deposits, other products and services, and operational and compliance risks
    • Technological innovation and implementation, including use of cloud computing, artificial intelligence, digitalization in risk management processes, new products and services, and strategic plans
    • Commercial and retail credit underwriting practices and oversight and control functions, , with a focus on evaluating credit risk appetites, risk layering, and portfolio risk exposure
    • Impact of changing interest rate outlooks on bank activities and risk exposures, including deposit costs, funding migration, asset valuations, borrower debt service capacity, and housing affordability

     

    Related Links

    Keywords: Americas, US, Banking, CECL, LIBOR, Banking Supervision, Cyber Risk, Credit Risk, Fintech, Operating Plan, OCC

    Featured Experts
    Related Articles
    News

    BIS and Central Banks Experiment with GenAI to Assess Climate Risks

    A recent report from the Bank for International Settlements (BIS) Innovation Hub details Project Gaia, a collaboration between the BIS Innovation Hub Eurosystem Center and certain central banks in Europe

    March 20, 2024 WebPage Regulatory News
    News

    Nearly 25% G-SIBs Commit to Adopting TNFD Nature-Related Disclosures

    Nature-related risks are increasing in severity and frequency, affecting businesses, capital providers, financial systems, and economies.

    March 18, 2024 WebPage Regulatory News
    News

    Singapore to Mandate Climate Disclosures from FY2025

    Singapore recently took a significant step toward turning climate ambition into action, with the introduction of mandatory climate-related disclosures for listed and large non-listed companies

    March 18, 2024 WebPage Regulatory News
    News

    SEC Finalizes Climate-Related Disclosures Rule

    The U.S. Securities and Exchange Commission (SEC) has finalized the long-awaited rule that mandates climate-related disclosures for domestic and foreign publicly listed companies in the U.S.

    March 07, 2024 WebPage Regulatory News
    News

    EBA Proposes Standards Related to Standardized Credit Risk Approach

    The European Banking Authority (EBA) has been taking significant steps toward implementing the Basel III framework and strengthening the regulatory framework for credit institutions in the EU

    March 05, 2024 WebPage Regulatory News
    News

    US Regulators Release Stress Test Scenarios for Banks

    The U.S. regulators recently released baseline and severely adverse scenarios, along with other details, for stress testing the banks in 2024. The relevant U.S. banking regulators are the Federal Reserve Bank (FED), the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC).

    February 28, 2024 WebPage Regulatory News
    News

    Asian Governments Aim for Interoperability in AI Governance Frameworks

    The regulatory landscape for artificial intelligence (AI), including the generative kind, is evolving rapidly, with governments and regulators aiming to address the challenges and opportunities presented by this transformative technology.

    February 28, 2024 WebPage Regulatory News
    News

    EBA Proposes Operational Risk Standards Under Final Basel III Package

    The European Union (EU) has been working on the final elements of Basel III standards, with endorsement of the Banking Package and the publication of the European Banking Authority (EBA) roadmap on Basel III implementation in December 2023.

    February 26, 2024 WebPage Regulatory News
    News

    EFRAG Proposes XBRL Taxonomy and Standard for Listed SMEs Under ESRS

    The European Financial Reporting Advisory Group (EFRAG), which plays a crucial role in shaping corporate reporting standards in European Union (EU), is seeking comments, until May 21, 2024, on the Exposure Draft ESRS for listed SMEs.

    February 23, 2024 WebPage Regulatory News
    News

    ECB to Expand Climate Change Work in 2024-2025

    Banking regulators worldwide are increasingly focusing on addressing, monitoring, and supervising the institutions' exposure to climate and environmental risks.

    February 23, 2024 WebPage Regulatory News
    RESULTS 1 - 10 OF 8957