OCC says ALM, credit and credit loss allowances are top three areas for supervision in FY ‘24

Asset and liability management, credit, and allowance for credit losses are the top three areas of “heightened focus” for supervision in the year ahead by the national regulator of banks, the agency said Thursday.

In releasing its supervision operating plan for fiscal year (FY) 2024, the Office of the Comptroller of the Currency (OCC) said its plan outlines its supervision priorities and objectives for the year. The plan also facilitates, the agency said, the implementation of supervisory strategies for individual national banks, federal savings associations, federal branches and agencies of foreign banking organizations, and third-party service providers subject to OCC examination.

The plan is also used by agency staff (including examiners and supervisors) to guide its supervisory priorities, planning, and resource allocations, the OCC said.

In addition to asset and liability management, credit, and allowance for credit losses, the OCC said its focus in FY ’24 will be:

  • Cybersecurity
  • Operations
  • Digital ledger technology activities
  • Change management
  • Payments
  • Bank Secrecy Act/anti-money laundering/countering the financing of terrorism and Office of Foreign Assets Control
  • Consumer compliance
  • Community Reinvestment Act
  • Fair lending
  • Climate-related financial risks

OCC Releases Bank Supervision Operating Plan for Fiscal Year 2024