Links in “OCC”
- FDIC & OCC Proposal on Liquidity Risk Management
While the proposal focuses on large FIs over $10 billion, the need for attention to liquidity risk management has never been greater. [10/31]
- OCC Takes Enforcement Actions Against 3 Banks for AML Problems
$480 million Los Angeles bank ordered to strengthen defenses against money laundering and financial crime activities; TD Bank in Delaware was hits with a $37.5 million civil money penalty for failing to report suspicious activity; and a now-defunct bank in New Jersey was ordered to pay a $4 million civil money penalty for failing to properly monitor its relationship with currency exchange houses. [10/21]
- OCC Enforcement Order Update Issued
Terminations far outweigh new issuance 4 to 1, but CMPs continue for BSA (TD Bank and United Community) and flood (Saddle River Valley Bank). [10/21]
- Proposed Flood Rules Would Force Banks to Accept Private Insurance
FRB, OCC and FDIC propose rules that would require banks to accept qualified private insurance on loans backed by properties in areas at risk for flooding. [10/15]
- New Bank Net Worth Rule Is Likely Precursor of NCUA Rule Change
The OCC and the Federal Reserve Board have issued a new rule that increases risk-based capital requirements and revises methodologies for determining risk-weighted assets. It is expected that NCUA will adopt a similar rule later this year. The agency was quoted earlier this year saying that it would likely rise the net worth requirements for credit unions with assets of more than $50 million. [10/14]
- Comptroller Speaks to Minority-Owned Bank Issues
OCC speaks on key challenges and opportunities involving minority-owned banks and how majority-owned banks can get involved. [10/7]
- OCC to Conduct Self-Assessment on Supervision
Comptroller Curry lays out innovative plan for self-review of the agency's approach to improving how the OCC supervises. Includes independent evaluation involving agencies from other nations that fared better during recent economic crisis. [9/24]
- OCC Speaks Out on Cyber Security
Comptroller's speech highlights increased risk related to ever increasing reliance on technology and telecommunications and the cybersecurity risks between them. [9/19]
- OCC Slams JPMC for Derivative Practices
$300 million CMP (civil money penalty) assessed for the failing to achieve the six core basics of derivative trading: (1) Oversight, (2) Governance, (3) Risk Management Process and Procedures, (4) Pricing Controls, (5) Model Implementation, and (6) Internal Audit Processes. [9/19]
- Colorado Flooding Promotes OCC Encouragement
Prudent efforts to assist borrowers reemphasized by OCC for those individuals affected by Colorado flooding. Link to key Natural Disasters and Other Emergency Conditions Bulletin 2012-28 provided. [9/18]
