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The Office of the Comptroller of the Currency (OCC) could require large banks to take substantial actions to address persistent weaknesses, including restricting their growth or forcing them to divest from risky ventures.
On Thursday, the OCC released revisions to its bank supervision policies and procedures manual that laid out steps the agency will take should a bank violate laws, regulations, final agency orders, conditions imposed in writing, or written agreements or be found to have unsafe or unsound practices.
The OCC might require large, complex banks to improve their capital or liquidity positions if they fail to address persistent weaknesses highlighted by the agency. It also indicated it is prepared to take more drastic actions, like ordering a bank to “simplify or reduce its operations, including that the bank reduce its assets, divest subsidiaries or business lines, or exit from one or more markets of operation,” according to a press release.
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News and analysis for the well-informed compliance or audit exec. Select an option and click continue.
Annual Membership $499 Value offer
Full price one year membership with auto-renewal.
Membership $599
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