OCC Delivers on Community Bank Comeback, Reduces Burden for Third-Party Risk Management
The Office of the Comptroller of the Currency today continued to empower community banks and reduce their burden with a proposal to tailor third-party risk management to actual risk, and by providing greater clarity regarding supervision and enforcement of core service providers.
The Office of the Comptroller of the Currency today continued to empower community banks and reduce their burden with a proposal to tailor third-party risk management to actual risk, and by providing greater clarity regarding supervision and enforcement of core service providers.
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Why it matters
The OCC's proposal to tailor third-party risk management for community banks represents a significant regulatory easing that could materially affect supervisory burden and operational risk frameworks for a broad segment of the banking sector, enhancing credit availability and reducing compliance costs.
Sources
OCC
OCC Delivers on Community Bank Comeback, Reduces Burden for Third-Party Risk Management
The Office of the Comptroller of the Currency today continued to empower community banks and reduce their burden with a proposal to tailor third-party risk management to actual risk, and by providing greater clarity regarding supervision and enforcement of core service providers.