OCC: Report Identifies 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 Fall 2023. The OCC reported that the overall strength of the federal banking system remains sound. The OCC expects banks to remain diligent and adhere to prudent risk management practices across…
OCC: Guidance Issued on “Buy Now, Pay Later” Lending
The Office of the Comptroller of the Currency (OCC) today issued guidance to national banks and federal savings associations to address the risks associated with “buy now, pay later” lending. The guidance focuses on the risk management of buy now, pay later (BNPL) loans, which are payable in four or fewer installments and carry no…
Agenices Finalize Rule Updating and Modernizing the Community Reinvestment Act
On October 24, 2023, the FDIC Board voted to approve a final rule, to be issued jointly with the Board of Governors of the Federal Reserve System (Federal Reserve) and the Office of the Comptroller of the Currency (OCC), that makes comprehensive regulatory amendments to the FDIC’s regulation implementing the Community Reinvestment Act of 1977…
OCC: Research Solicited on Depositor Behavior, Bank Liquidity and Run Risk
The Office of the Comptroller of the Currency (OCC) is soliciting academic research papers on depositor behavior, bank liquidity, and run risk in the banking system for submission by January 15, 2024. The OCC will invite authors of selected papers to present to OCC staff and invited academic and government researchers at OCC Headquarters in…
OCC: First and Second Quarter 2024 CRA Evaluation Schedule Issued
The Office of the Comptroller of the Currency (OCC) today released its schedule of Community Reinvestment Act (CRA) evaluations to be conducted in the first and second quarters of 2024. The OCC encourages public comment on the national banks and federal savings associations (collectively, banks) scheduled to be evaluated under the CRA. Public comments should…
Agencies Extend Comment Period on Proposed Rule to Require Large Banks to Maintain Long-Term Debt
Federal bank regulatory agencies announced today that they will extend until January 16, 2024, the comment period on their long-term debt proposed rule to improve the resolvability of large banks and enhance financial stability. The agencies extended the comment period to allow interested parties more time to analyze the issues and prepare their comments. Comments on the…
Agencies Announce Dollar Thresholds for Smaller Loan Exemption from Appraisal Requirements for Higher-Priced Mortgage Loans
The Consumer Financial Protection Bureau, the Federal Reserve Board, and the Office of the Comptroller of the Currency today announced that the 2024 threshold for whether higher-priced mortgage loans are subject to special appraisal requirements will increase from $31,000 to $32,400. The threshold amount will be effective January 1, 2024, and is based on the…
OCC: CRA Evaluations for 24 National Banks and Federal Savings Associations Released
The Office of the Comptroller of the Currency (OCC) today released a list of Community Reinvestment Act (CRA) performance evaluations that became public during the period of October 1, 2023, through October 31, 2023. The list contains only national banks, federal savings associations, and insured federal branches of foreign banks that have received ratings. The…
FDIC: Agencies Issue Principles for Climate-Related Financial Risk Management for Large Financial Institutions
Federal bank regulatory agencies today jointly finalized principles that provide a high–level framework for the safe and sound management of exposures to climate–related financial risks for large financial institutions. The principles are consistent with the risk management framework described in the agencies’ existing rules and guidance. The principles are intended for the largest financial institutions,…