OCC Consults on Information Collection for Certain Banking Entities

The OCC guidelines codified in 12 CFR part 30, appendix D, establish minimum standards for the design and implementation of a risk-governance framework for insured national banks, insured Federal savings associations, and insured Federal branches of a foreign bank. The guidelines apply to a bank with average consolidated assets equal to or greater than USD 50 billion; less than USD 50 billion if that bank’s parent company controls at least one insured national bank or insured Federal savings association that has average consolidated assets of USD 50 billion or greater; or less than USD 50 billion, if the OCC determines such bank’s operations are highly complex or otherwise present a heightened risk as to warrant the application of the guidelines (covered banks). The guidelines also establish minimum standards for a board of directors in overseeing the framework’s design and implementation.

These guidelines were finalized on September 11, 2014. OCC proposed renewing the information collection associated with the guidelines on July 05, 2017. OCC is now seeking OMB approval to renew the information collection associated with these guidelines. The standards contained in the guidelines are enforceable under section 39 of the Federal Deposit Insurance Act (FDIA), which authorizes OCC to prescribe operational and managerial standards for insured national banks, insured Federal savings associations, and insured Federal branches of a foreign bank.

Related Link: Federal Register Notice (PDF)

Keywords: Americas, US, Banking, Reporting, Deposit Insurance, FDIA, OCC