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OCC Finalizes Big Bank Risk-Management Standards

Joe Mont | September 2, 2014

The Office of the Comptroller of the Currency has published final guidelines intended to strengthen the governance and risk management practices of large financial institutions.

The guidelines apply to insured national banks, insured federal savings associations, and insured federal branches of foreign banks with $50 billion or more in average total consolidated assets. They also apply to OCC-regulated institutions with less than $50 billion in average total consolidated assets if that institution’s parent company controls at least one other covered institution.

The guidelines provide that covered institutions should establish and adhere to a written risk governance framework to manage and control its risk-...

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