Tag Archives: third-party risk

Agencies Publish FAQs on Resolution Planning

The Federal Reserve and the FDIC today published the answers to frequently asked questions about guidance issued last year on the resolution plans that the nation’s eight largest banks are required to submit detailing how they would be wound down in the event of bankruptcy. The FAQs address capital and liquidity requirements and forecasting, governance mechanisms, management of critical third-party ...

Read More »

Regulators Preview Forthcoming Third Party Guidance

Regulatory staff from the Federal Reserve, the FDIC and the Office of the Comptroller of the Currency shared their observations and previewed forthcoming regulatory updates on third-party risk management during a meeting with ABA member bankers in Washington, D.C., this week.

Read More »

FDIC Watchdog Highlights Gaps in Banks’ Vendor Contracts

Few banks’ contracts with technology service providers (TSPs) provide sufficient detail about the providers’ business continuity and incident response capabilities and duties, according to a report issued today by the FDIC’s independent inspector general.

Read More »