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

    US Agencies Requests Comments on Use and Impact of CAMELS Ratings

    US Agencies (FDIC and FED) are seeking information and comments from interested parties regarding the consistency of ratings assigned by the agencies under the Uniform Financial Institutions Rating System (UFIRS).

    October 18, 2019 WebPage Regulatory News
    News

    BoE Announces Date for Publication of Stress Test Results for Banks

    BoE announced its plans to publish results of the full UK annual stress tests on December 10, 2019.

    October 18, 2019 WebPage Regulatory News
    News

    PRA Consults on Approach to Supervising Liquidity and Funding Risks

    In consultation paper (CP27/19), PRA published a proposal (CP27/19) to update the supervisory statement SS24/15 on the PRA approach to supervising liquidity and funding risk.

    October 17, 2019 WebPage Regulatory News
    News

    US Agencies Consult on Policy Statement on Allowance for Credit Losses

    US Agencies (FDIC, FED, NCUA, and OCC) are consulting on the policy statement on allowances for credit losses and on the guidance on credit risk review systems.

    October 17, 2019 WebPage Regulatory News
    News

    FSI Paper Examines Use of Suptech Initiatives by Financial Authorities

    The Financial Stability Institute (FSI) of BIS published a paper that examines the suptech developments by analyzing suptech initiatives of 39 financial authorities globally.

    October 17, 2019 WebPage Regulatory News
    News

    ECB Publishes Recommendations on Euro Risk-Free Rates Transition

    ECB published a report, by private sector working group on euro risk-free rates, which contains recommendations, from a risk management perspective, on the transition to new risk-free rates.

    October 17, 2019 WebPage Regulatory News
    News

    US Agencies Publish Notice to Extend Form FFIEC 102 for Three Years

    US Agencies (FDIC, FED, and OCC) published a joint notice regarding extension of the market risk regulatory report for institutions subject to the market risk capital rule (FFIEC 102).

    October 17, 2019 WebPage Regulatory News
    News

    FSB Report Examines Implementation and Impact of G20 Financial Reforms

    FSB published fifth annual report on the implementation and effects of the G20 financial regulatory reforms.

    October 16, 2019 WebPage Regulatory News
    News

    EBA Launches Consultation on Comprehensive Pillar 3 Disclosures

    EBA proposed the new comprehensive implementing technical standard (ITS) for public disclosures by financial institutions.

    October 16, 2019 WebPage Regulatory News
    News

    EBA Consults on Revised Technical Standards on Supervisory Reporting

    EBA launched a consultation on the revised implementing technical standards, or ITS, on supervisory reporting.

    October 16, 2019 WebPage Regulatory News
    RESULTS 1 - 10 OF 3997