WASHINGTON—Acting Comptroller of the Currency Michael J. Hsu today discussed the importance of operational resiliency in remarks at the Institute of International Bankers Annual Washington Conference. In his remarks, Mr. Hsu discussed the growing risks of disruptions that may impede the provision of financial services or adversely impact systems. He also discussed considerations to strengthen […]
Category Archives: Office of the Comptroller of the Currency
Agencies Host 2024 National Interagency Community Reinvestment Conference
The federal bank regulatory agencies and the Federal Reserve Banks of San Francisco and Chicago will host the 2024 National Interagency Community Reinvestment Conference in Portland, Oregon, March 4 to 7. The biennial conference offers participants the opportunity to learn about the Community Reinvestment Act (CRA) and to discuss best practices, innovations, and emerging challenges […]
OCC Issues Second and Third Quarter 2024 CRA Evaluation Schedule
WASHINGTON—The Office of the Comptroller of the Currency (OCC) today released its schedule of Community Reinvestment Act (CRA) evaluations to be conducted in the second and third quarters of 2024. The OCC encourages public comment on the CRA-related activities of the national banks and federal savings associations (collectively, banks) scheduled to be evaluated under the […]
Ted Dowd Named Acting Senior Deputy Comptroller and Chief Counsel
WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced that Ted Dowd will serve as Acting Senior Deputy Comptroller and Chief Counsel, effective April 8, 2024. Mr. Dowd will serve in this position while the agency initiates a search for a successor to Ben McDonough, who will be taking a position at another […]
Acting Comptroller Discusses Consolidated Supervision of Crypto-Asset Intermediaries
WASHINGTON—Acting Comptroller of the Currency Michael J. Hsu today offered remarks to the Financial Stability Board’s Crypto Working Group. In his remarks, Mr. Hsu shared his perspective on the importance of coordination and collaboration on the supervision of global institutions, particularly with regard to crypto-asset activities. He also discussed the relationship between crypto and tokenization. […]
Acting Comptroller Discusses Banking and Commerce
WASHINGTON—Acting Comptroller of the Currency Michael J. Hsu today discussed banking and commerce, regulatory effectiveness, and financial stability in remarks at Vanderbilt University in Nashville, Tenn. In his remarks, Mr. Hsu discussed the blurring of the lines between banking and commerce in payments and private credit/equity, and how this might lead to financial instability. He […]
Agencies Issue 2023 Shared National Credit Program Report
Federal bank regulatory agencies today reported in the 2023 Shared National Credit (SNC) report that credit quality associated with large, syndicated bank loans remains moderate. However, the agencies noted declining credit quality trends due to the pressure of higher interest rates on leveraged borrowers and compressed operating margins in some industry sectors. Risks in leveraged […]
OCC Announces Enforcement Actions for February 2024
WASHINGTON—The Office of the Comptroller of the Currency (OCC) today released enforcement actions taken against national banks and federal savings associations (banks), and individuals currently and formerly affiliated with banks the OCC supervises. The OCC uses enforcement actions against banks to require the board of directors and management to take timely actions to correct the […]
OCC Releases Dodd-Frank Act Stress Test Scenarios for 2024
WASHINGTON—The Office of the Comptroller of the Currency (OCC) released economic and financial market scenarios for use in the upcoming stress tests for covered institutions. The supervisory scenarios include baseline and severely adverse scenarios, as described in the OCC’s rule that implements the stress testing requirements of the Dodd-Frank Wall Street Reform and Consumer Protection […]
OCC Hosts Mutual Savings Association Advisory Committee Meeting March 5
WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced it will host a public meeting of the Mutual Savings Association Advisory Committee (MSAAC) on Tuesday, March 5, 2024. The meeting, which will be hosted in person and virtually, is open to the public and will begin at 8:30 a.m. Eastern Standard Time (EST). […]