Regulatory AlertsSR 23-4: Interagency Guidance on Third-Party Relationships: Risk Management
The Board of Governors of the Federal Reserve, the FDIC, and the OCC issued joint interagency guidance to promote consistent supervisory approaches for managing risks in third-party relationships. This document replaces prior agency guidance and outlines sound risk management principles for all stages of the third-party relationship lifecycle without imposing new regulatory requirements. The guidance assists banking organizations in identifying and managing risks across various structures, including novel fintech arrangements, while noting that additional resources will be developed for smaller community banks.
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