News Release 2020-17 | February 6, 2020 Share This Page: 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 final rule that implements stress test requirements […]
Category Archives: Office of the Comptroller of the Currency
Shared National Credit Review Finds Risk Remains Elevated in Leveraged Loans
News Release 2020-15 | January 31, 2020 Share This Page: Joint Release Federal Deposit Insurance CorporationFederal Reserve Board of GovernorsOffice of Comptroller of the Currency WASHINGTON—Federal bank regulatory agencies find that the share and amount of loan commitments with the lowest supervisory ratings rose slightly between 2018 and 2019, according to the Shared National Credit (SNC) […]
Comptroller of the Currency Helps Kick Off 2020 Summer Intern Process
News Release 2020-14 | January 31, 2020 Share This Page: WASHINGTON—Comptroller of the Currency Joseph M. Otting today joined District of Columbia Mayor Muriel Bowser and the heads of other federal agencies to kick off the 2020 Mayor Marion S. Barry Summer Youth Employment Program (MBSYEP) in the District. Last year, the Office of the Comptroller […]
Agencies Propose Changes to Modify “Covered Funds” Restrictions of Volcker Rule
News Release 2020-11 | January 30, 2020 Share This Page: Joint Release Board of Governors of the Federal Reserve SystemCommodity Futures Trading CommissionFederal Deposit Insurance CorporationOffice of Comptroller of the CurrencySecurities and Exchange Commission Five federal financial regulatory agencies on Thursday invited public comment on a proposal to modify regulations implementing the Volcker rule’s general prohibition […]
Comptroller of the Currency Approves Proposal to Revise Volcker Rule Covered Funds Provisions
News Release 2020-10 | January 30, 2020 Share This Page: WASHINGTON—The Comptroller of the Currency today approved a proposed rule to revise the “covered funds” provisions in the regulations implementing Section 13 of the Bank Holding Company Act of 1956 (BHC Act), also known as the Volcker Rule. “By approving the proposal today, we are helping […]
Comptroller of the Currency Discusses Efforts to Strengthen Community Reinvestment Act Regulations, Condition of the Federal Banking System
News Release 2020-9 | January 29, 2020 Share This Page: WASHINGTON—Comptroller of the Currency Joseph M. Otting today testified during a hearing held by the House Financial Services Committee. The Comptroller’s testimony discussed efforts to strengthen and modernize Community Reinvestment Act regulations, the condition of the federal banking system, the agency’s diversity and inclusion programs, and […]
OCC Hosts Risk Governance and Compliance Workshops in Washington, D.C.
News Release 2020-8 | January 28, 2020 Share This Page: WASHINGTON — The Office of the Comptroller of the Currency (OCC) will host two workshops at OCC Headquarters in Washington, D.C., March 17 and 18, for directors of national community banks and federal savings associations supervised by the OCC. The Risk Governance workshop on March 17 […]
OCC Hosts Credit Risk and Operational Risk Workshops in New Orleans
News Release 2020-7 | January 27, 2020 Share This Page: WASHINGTON — The Office of the Comptroller of the Currency will host two workshops at the Embassy Suites by Hilton in New Orleans, March 3-4, for directors of national community banks and federal savings associations supervised by the OCC. The Credit Risk workshop on March 3 […]
OCC Issues Notice of Charges Against Five Former Senior Wells Fargo Bank Executives, Announces Settlement With Others
News Release 2020-6 | January 23, 2020 Share This Page: WASHINGTON – The Office of the Comptroller of the Currency (OCC) today issued a notice of charges against five former senior executives of Wells Fargo Bank, N.A., Sioux Falls, South Dakota, and announced settlements with the bank’s former Chief Executive Officer (CEO) and other members of […]
OCC Fines Citibank More Than $17 Million for Violating the Flood Disaster Protection Act
News Release 2020-5 | January 21, 2020 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced a $17,998,510 civil money penalty against Citibank, N.A, of Sioux Falls, South Dakota, for violating the Flood Disaster Protection Act of 1973 (FDPA) and its implementing regulations. The OCC found the bank engaged in a […]