The Office of the Comptroller of the Currency (OCC) today released its bank supervision operating plan for fiscal year (FY) 2023.
The plan provides the foundation for policy initiatives and for supervisory strategies as applied to individual national banks, federal savings associations, federal branches, federal agencies, and technology service providers. The OCC staff uses this plan to guide its supervisory priorities, planning, and resource allocations.
Key areas of heightened focus for supervisory strategies in FY 2023:
- Strategic and operational planning
- Operational resiliency
- Third parties and related concentrations
- Credit risk management
- Allowances for credit losses
- Interest rate risk
- Liquidity risk management
- Consumer compliance
- Bank Secrecy Act
- Fair lending
- Community Reinvestment Act
- New products and services
- Climate-related financial risks
The OCC provides periodic updates about supervisory priorities, emerging risks, and horizontal risk assessments in the Semiannual Risk Perspective in the fall and spring.
Leave A Comment?
You must be logged in to post a comment.