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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2023-10-10T14:00:00
Bank examiners from the Treasury Department’s Office of the Comptroller of the Currency (OCC) are focusing their supervision attention on how banks manage risks that brought down three mid-sized financial institutions earlier this year.
The OCC’s “Fiscal Year 2024 Bank Supervision Operating Plan,” released Sept. 28, said its risk-based supervision will focus on asset and liability management, specifically interest rate and liquidity risks. OCC supervisors will expect banks to have conducted stress tests across a sufficient range of scenarios, sensitivity analyses of key model assumptions and liquidity sources, and contingency planning.
The OCC will want to understand banks’ plans in the event of a run on deposits, which can weaken a bank’s balance sheet in hours in the age of digital banking and social media. Examiners will want to know a bank has tested its protections against a bank run on numerous scenarios and have adequate contingency borrowing lines and liquidity sources.
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2024-03-04T19:24:00Z By Aaron Nicodemus
New York Community Bancorp, a mid-sized bank struggling with precarious commercial loans and troubles with its acquisition of the failed Signature Bank last year, named a new chief risk officer and chief audit executive.
2024-02-21T15:59:00Z By Aaron Nicodemus
Since the failure of Silicon Valley Bank nearly one year ago, the Federal Reserve Board has revamped its supervisory procedures to respond more quickly and forcefully once it identifies emerging risks at mid-sized and large banks, according to the agency’s vice chair for supervision.
2024-01-30T20:39:00Z By Aaron Nicodemus
The Office of the Comptroller of the Currency proposed eliminating expedited or streamlined reviews of mergers for national banks and federal savings associations.
2024-06-28T19:30:00Z By Jeff Dale
A Bank of England report warned of private equity risk management deficiencies as interest rates remain stagnant, with international coordination important.
2024-06-20T15:40:00Z By Aaron Nicodemus
Compliance departments at financial institutions must become more involved in ensuring their firm’s operational resiliency to address emerging risks, the Treasury Department’s Office of the Comptroller of the Currency said in its semi-annual risk perspective.
2024-06-07T22:34:00Z By Adrianne Appel
Compliance has been “sleeping on” artificial intelligence, two panelists discussed at Compliance Week’s Women in Compliance Summit. The profession should be positioned to lead on AI governance at the business level.
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