US Office of the Comptroller of the Currency Releases Mid-Cycle Status Report

By June 5, 2016 News No Comments

On May 11, 2016, the US Office of the Comptroller of the Currency released a mid-cycle status report on key actions that it has taken to date pursuant to its Committee on Bank Supervision’s annual operating plan for the fiscal year that commenced on October 1, 2015. The plan sets forth the agency’s broad supervision priorities and objectives and is used to develop individual bank supervisory strategies and make related resource allocation decisions. Key actions completed in the first half of fiscal year 2016include issuing various supervisory communications, including 557 reports of examination, conducting workshops, issuing guidance and reports surveying best practices and ongoing outreach meetings and presentations to industry members. The OCC’s supervisory priorities for the duration of the 2016 fiscal year include compliance, operational resiliency, credit risk management, stress testing, strategic planning and execution, corporate governance and interest rate risk.