Proposed Interagency Guidance on Third-Party Relationships: Risk Management

Title: Proposed Interagency Guidance on Third-Party Relationships: Risk Management
Subject: Third-party relationships
Agency: FDIC, Federal Reserve, OCC
Status:
Proposed interagency guidance and request for comment
Summary:

The Board, FDIC, and OCC (together, the agencies) invite comment on proposed guidance on managing risks associated with third-party relationships. The proposed guidance would offer a framework based on sound risk management principles for banking organizations to consider in developing risk management practices for all stages in the life cycle of third-party relationships that takes into account the level of risk, complexity, and size of the banking organization and the nature of the third-party relationship. The proposed guidance sets forth considerations with respect to the management of risks arising from third-party relationships. The proposed guidance would replace each agency’s existing guidance on this topic and would be directed to all banking organizations supervised by the agencies.

FR Doc: 2021-15308
Date proposed: July 13, 2021
Comments due date: Sept. 17, 2021
Effective date:

Rule compliance date:
Agency release: Agencies request comment on proposed risk management guidance for third-party relationships
Related Reg Report item(s):

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