The OCC this week issued a bulletin to inform banks and examiners that the loan origination threshold for reporting Home Mortgage Disclosure Act data on closed-end mortgage loans has changed due to a recent court decision.
The most effective way to successfully fix issues at a bank that is “too large to manage” is to simplify by divesting businesses, curtailing operations and reducing complexity, Acting Comptroller of the Currency Michael Hsu said this week, adding that regulators must have “credible, transparent mechanisms” to compel those divestments when necessary.
The OCC this week announced that registration is open for its symposium on bank mergers, which will be held Feb. 10 at its headquarters in Washington, D.C.
The federal banking system remains resilient despite a recent dip in profitability as pandemic-related economic aid phased out, with banks able to use that strength to support their customers and the national economy, the OCC said this week in its annual report to Congress.
The Biden administration today issued its Fall 2022 Semiannual Regulatory Agenda—a semiannual listing of rulemakings that departments and agencies expect to initiate or continue during the next six months.
Events of the past year have highlighted several key risks posed by cryptoassets that banks should consider if they wish to offer crypto-related services, the Federal Reserve, FDIC and the Office of the Comptroller of the Currency said today in a joint statement.
The share of current and performing first-lien mortgages in the third quarter of 2022 was 97.2%, up from 95.6% a year ago, according to the Mortgage Metrics Report released by the OCC today.
Banks remain well capitalized and with ample liquidity and sound credit quality, “although macroeconomic headwinds are a concern,” according to the Office of the Comptroller of the Currency’s Semiannual Risk Perspective report for fall 2022 issued today.
Federal efforts to gauge how well large banks are prepared to handle climate change risks will differ from traditional stress tests in that they are not about capital, representatives from the Office of the Comptroller of the Currency and Federal Housing Finance Agency said Tuesday.
With many banks expected to implement the current expected credit loss accounting standard in 2023, Acting Comptroller of the Currency Michael Hsu discussed the OCC’s expectations for banks moving to CECL.