Federal Reserve, FDIC, NCUA and OCC Extend Comment Period on Proposed Third-Party Risk Guidance to December 16
The Federal Reserve announced on November 13 that the Federal Deposit Insurance Corporation (FDIC), the Federal Reserve Board, the National Credit Union Administration (NCUA) and the Office of the Comptroller of the Currency (OCC) have extended the public comment period for their proposed third-party risk management guidance to December 16. The comment period had been set to close on November 16.
The proposed guidance is principles-based and nonbinding, intended to help banks and credit unions tailor their risk management practices to the risk profile of each individual third-party relationship.
The agencies said that once the guidance is finalized, the federal banking agencies plan to rescind their existing guidance on the subject and replace it with the new guidance, and the NCUA will do the same. Separately, the Federal Reserve also extended the comment period for its own third-party risk management guide for traditional community banks to December 16.
(Source: Federal Reserve)
Source: Federal Reserve
Published by GSM · USA (original Chinese edition)
Photo: 图：位于华盛顿的美联储总部埃克尔斯大楼。公共领域。 / Photo: The Federal Reserve's Eccles Building headquarters in Washington. Public domain.
