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

    FASB Proposes to Delay Implementation of Insurance Contracts Standard

    FASB issued a proposed Accounting Standards Update that would grant insurance companies, adversely affected by the COVID-19 pandemic, an additional year to implement the Accounting Standards Update No. 2018-12 on targeted improvements to accounting for long-duration insurance contracts, or LDTI (Topic 944).

    July 09, 2020 WebPage Regulatory News
    News

    EBA Calls on Resolution Authorities to Consider Impact of COVID Crisis

    EBA published a statement on resolution planning in light of the COVID-19 pandemic.

    July 09, 2020 WebPage Regulatory News
    News

    ESMA Updates Reporting Manual on European Single Electronic Format

    ESMA updated the reporting manual on the European Single Electronic Format (ESEF).

    July 09, 2020 WebPage Regulatory News
    News

    BCBS and FSB Set Out Recommendations for Benchmark Transition

    BCBS and FSB published a report on supervisory issues associated with benchmark transition.

    July 09, 2020 WebPage Regulatory News
    News

    BCBS Finalizes Revisions to Credit Valuation Adjustment Risk Framework

    BCBS Finalizes Revisions to Credit Valuation Adjustment Risk Framework

    July 08, 2020 WebPage Regulatory News
    News

    PRA Statement on Application of Matching Adjustment Amid Crisis

    PRA published a statement to insurers that clarifies the approach to application of the matching adjustment during COVID-19 crisis.

    July 07, 2020 WebPage Regulatory News
    News

    EBA Provides Clarity on Implementation of Certain COVID-19 Policies

    EBA published a report on the implementation of selected COVID-19 policies within the prudential framework for banking sector.

    July 07, 2020 WebPage Regulatory News
    News

    EC Consults on Revision of Network and Information Systems Directive

    EC launched a consultation to revise the network and information systems (NIS) Directive (2016/1148), which was adopted in July 2016 and is the first horizontal internal market instrument aimed at improving the resilience of the EU against cybersecurity risks.

    July 07, 2020 WebPage Regulatory News
    News

    PRA Statement on LIBOR Transition and PRA Resolution-Related Rules

    PRA published a statement that outlines its view on the implications of LIBOR transition for contracts in scope of the “Contractual Recognition of Bail-In” and “Stay in Resolution” parts of the PRA Rulebook.

    July 07, 2020 WebPage Regulatory News
    News

    PRA Issues Updates to Pillar 2A Capital Framework in UK

    PRA published the policy statement PS15/20 to reflect additional resilience associated with higher macro-prudential buffers in a standard risk environment with a reduction in Pillar 2A capital requirements.

    July 06, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 5449