occ
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In two days, federal banking regulators let 188 more banks go eighteen months between examinations and proposed to rescind the third-party risk rules they wrote in 2023 — one effective before anyone could comment, the other resting on what banks told them.
On September 10 the Federal Reserve, FDIC and OCC issued an interim final rule raising the asset threshold for an extended 18-month examination cycle from $3 billion to $6 billion. It took effect on publication, September 14, without prior comment; comments close October 14. The agencies estimate about 188 more institutions become eligible, bringing the total to 4,016. They acknowledge in the rule that a longer cycle 'creates a longer window during which emerging problems could develop before being detected' and conclude it would not 'appreciably' raise failure risk, without defining the word or attaching a number. No savings estimate is given either. The next day the same agencies, joined by the NCUA, proposed guidance that would replace the 2023 interagency third-party risk guidance and four further documents, on the stated ground that the 2023 guidance 'frequently has been interpreted in an overly broad manner' — a diagnosis sourced to stakeholder feedback, with no study cited. Governor Michael S. Barr dissented.
Also filed underbankingfederal-reservefdicsupervisionthird-party-risk
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