Regulatory Alerts2026-04-17 | SR 26-2SR 26-2: Revised Guidance on Model Risk Management
The Board of Governors of the Federal Reserve System, OCC, and FDIC issued revised guidance on model risk management to supersede prior 2011 and 2021 interagency statements. This update reflects fifteen years of supervisory experience and industry feedback, emphasizing a risk-based approach tailored to an institution's specific risk profile, size, and complexity. The guidance clarifies model risk management principles while recognizing that practices should vary based on individual banking organizations' model usage and operational characteristics.
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