Third-Party Risk Management: Proposed Guidance and Request for Comment
Why this matters
This is a formal consultation (OCC Bulletin) issued jointly by four federal banking agencies (OCC, Federal Reserve, FDIC, NCUA) proposing revised guidance on third-party risk management. The guidance applies broadly to national banks, federal savings associations, federal branches/agencies, and community banks. While non-binding and not setting enforceable standards, it represents an important supervisory signal and policy direction. The 60-day comment period and multi-agency coordination indicate material regulatory significance. The focus on aligning risk management practices to specific third-party relationships and organizational risk profiles affects governance and operational resilience practices across the banking industry.
AI-generated classification rationale, not a full analysis. Verify with the original OCC source before acting. Full disclaimer.
What the OCC said
Agencies Seek Comment on Proposed Third-Party Risk Management Guidance and Issue Statement on Community Bank Engagement with Core Service Providers Today the Federal Deposit Insurance Corporation, the Federal Reserve Board, the National Credit Union Administration, and the Office of the Comptroller of the Currency…
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, Senior Managers / Governance and Banking & Credit.