Strategic and operational planning to ensure banks maintain stable financial positions is at the top of the strategies of the 2022 operating plan for the regulator of national banks, release Friday.
According to the Office of the Comptroller of the Currency (OCC), the plan “provides the foundation for policy initiatives and for supervisory strategies” as applied to banks, other institutions and technology service providers to all of those institutions. OCC staff members use this plan to guide their supervisory priorities, planning, and resource allocations, the agency said.
Other top strategies for its plan, the agency said, include:
- credit risk management, allowances for loan and lease losses, and allowances for credit losses.
- cybersecurity and operational resilience.
- oversight of third parties and related concentrations.
- Bank Secrecy Act/anti-money laundering (BSA/AML) compliance management.
- consumer compliance management systems and fair lending risk.
- Community Reinvestment Act performance.
- the impact of a low-rate environment and the transition to alternative reference rates given the cessation of LIBOR.
- payment systems products and services.
- fintech partnerships for potential cryptocurrency-related activities and other services.
- climate change risk management.
The agency said it will provide periodic updates about its supervisory priorities in the fall and spring through its “Semiannual Risk Perspective” reports.
OCC Releases Bank Supervision Operating Plan for Fiscal Year 2022