June 23, 2022

OCC: Report Issued on Key Risks Facing Federal Banking System

The Office of the Comptroller of the Currency (OCC) today reported the key issues facing the federal banking system in its Semiannual Risk Perspective for Spring 2022

As banks continue to navigate the operational- and market-related impacts of the pandemic along with substantial government stimulus, current geopolitics have tightened financial conditions and increased downside risk to economic growth. The OCC highlighted operational, compliance, interest rate, and credit risks, among the key risk themes in the report.

Highlights from the report include:

The report also highlights an OCC initiative to act on climate-related financial risks to the federal banking system.

The report covers risks facing national banks, federal savings associations, and federal branches and agencies based on data as of December 31, 2021. The report presents information in five main areas: the operating environment, bank performance, a special section on climate-related topics in emerging risks, trends in key risks, and supervisory actions. The report focuses on issues that pose threats to those financial institutions regulated by the OCC and is intended as a resource to the industry, examiners, and the public.

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