The Office of the Comptroller of the Currency is proposing to raise the threshold for which its heightened supervisory standards apply to banks from $50 billion to $700 billion in assets.
In 2014, the OCC adopted heightened governance and risk management guidelines for banks with at least $50 billion in average total consolidated assets. Among other things, the guidelines stated that covered institutions should establish and adhere to a written risk governance framework to manage and control their risk-taking activities. The guidelines also set minimum standards for the institutions’ boards of directors to oversee the risk governance framework.
In a statement today, the OCC said that raising the threshold would reduce regulatory burden. Comments on the proposal are due 60 after publication in the Federal Register.
