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    OCC Publishes Strategic Plan for 2023-27, Issues Other Updates

    September 12, 2022

    The Office of the Comptroller of the Currency (OCC) published the remarks of Acting Comptroller of the Currency Michael J. Hsu on adapting to digitalization, developing a more sophisticated understanding of bank-fintech arrangements, and managing climate-related risk in the federal banking system. OCC also announced the appointment of Dr. Yue (Nina) Chen as Chief Climate Risk Officer, who will lead the agency’s climate risk efforts related to supervision, policy, and external engagement. In addition, OCC released its strategic plan for fiscal years 2023-2027.

    The strategic plan outlines the agency’s approach to achieve its three strategic goals: agility and learning, credibility and trust, and leading on supervision as the banking system evolves. To achieve its goal on supervision over the next five years, OCC will:

    • Enhance the implementation of risk-based supervision, including through timely adaptation to changing risks, technologies, and priorities.
    • Advance financial inclusion and economic opportunity for all through thoughtful policies, supervisory activities, and innovative programs such as Project REACh.
    • Identify, assess, prioritize, and address emerging challenges, such as safety and soundness risks, from changes in the climate and digital technologies, including blockchains, while adjusting resources and supervisory priorities as needed.
    • Invest in research and development capacities to support innovative approaches to supervision and regulation.
    • Engage actively with domestic and international agencies, industry groups, and institutions to influence supervisory perspectives and identify emerging risks and threats to financial stability.
    • Promote strengthening and modernizing community banks, with a focus on small businesses and underserved communities.


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    Keywords: Americas, US, Banking, Strategic Plan, Financial Stability, Fintech, Regtech, Climate Change Risk, ESG, Regulation and Supervision, OCC

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