Interagency Statement: Risk-Based Supervision of Certain Services Provided by Core Providers to Community Banking Organizations
Why this matters
This is a joint statement from OCC, Federal Reserve, and FDIC providing clarity on supervisory approach to third-party core service providers used by community banking organizations. It addresses risk-based supervision factors, supervisory oversight levels, and enforcement authorities—affecting a broad set of community banks and their vendor relationships. The statement carries supervisory weight and establishes expectations for ongoing compliance, warranting high urgency despite being guidance rather than a binding rule.
AI-generated classification rationale, not a full analysis. Verify with the original OCC source before acting. Full disclaimer.
What the OCC said
The Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System (the Board) and the Federal Deposit Insurance Corporation (the FDIC, and collectively, the agencies) are issuing a statement to provide clarity on their risk-based supervision of certain services provided by core…
Extract from OCC . Read the full notice at the source for the authoritative text.
Context
Office of the Comptroller of the Currency (OCC) — Charters and supervises US national banks and federal savings associations. We track 49 updates from them.
US financial regulation is overseen by multiple agencies including the SEC, CFTC, Federal Reserve, OCC and FDIC. Browse all United States updates.
This update is classified under Operational Resilience / Outsourcing, Technology & Cyber and Banking & Credit.