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Thursday, February 6, 2014

OCC Proposes Heightened Standards for Large Banks

The OCC is proposing a rule that would establish minimum standards for the design and implementation of a risk governance framework for large insured national banks, insured federal savings associations, and insured federal branches of foreign banks with average total consolidated assets of $50 billion or more. The proposal also would establish minimum standards for an institution’s board of directors in overseeing the framework’s design and implementation.

Some highlights of the proposed rule include:
  • Banks should have a comprehensive written statement that articulates its risk appetite and serves as a basis for the framework;
  • Each member of the board has a duty to oversee a bank’s compliance with safe and sound banking practices, and;
  • The board should actively oversee a bank’s risk-taking activities and hold management accountable for adhering to the framework.

Comments are due March 28, 2014.

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