Notice2021-19545
Proposed Interagency Guidance on Third-Party Relationships: Risk Management
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
September 10, 2021
Issuing agencies
Federal Reserve SystemFederal Deposit Insurance CorporationTreasury DepartmentComptroller of the Currency
Abstract
On July 19, 2021, the Board, FDIC, and OCC (together, the agencies) published in the Federal Register an invitation to comment on proposed guidance on managing risks associated with third-party relationships. The notice provided for a comment period ending on September 17, 2021. In response to commenters' requests for additional time to analyze and respond to the proposal, the agencies are extending the comment period for 30 days until October 18, 2021.
Full Text
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<title>Federal Register, Volume 86 Issue 173 (Friday, September 10, 2021)</title>
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[Federal Register Volume 86, Number 173 (Friday, September 10, 2021)]
[Notices]
[Page 50789]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2021-19545]
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FEDERAL RESERVE SYSTEM
[Docket No. OP-1752]
FEDERAL DEPOSIT INSURANCE CORPORATION
RIN 3064-ZA26
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
[Docket ID OCC-2021-0011]
Proposed Interagency Guidance on Third-Party Relationships: Risk
Management
AGENCY: The Board of Governors of the Federal Reserve System (Board),
the Federal Deposit Insurance Corporation (FDIC), and the Office of the
Comptroller of the Currency (OCC).
ACTION: Proposed interagency guidance and request for comment;
extension of comment period.
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SUMMARY: On July 19, 2021, the Board, FDIC, and OCC (together, the
agencies) published in the Federal Register an invitation to comment on
proposed guidance on managing risks associated with third-party
relationships. The notice provided for a comment period ending on
September 17, 2021. In response to commenters' requests for additional
time to analyze and respond to the proposal, the agencies are extending
the comment period for 30 days until October 18, 2021.
DATES: For the notice of proposed guidance published on July 19, 2021
(86 FR 38182), comments must be received by October 18, 2021.
ADDRESSES: You may submit comments by any of the methods identified in
the proposal.
FOR FURTHER INFORMATION CONTACT:
Board: Nida Davis, Associate Director, (202) 872-4981; Timothy
Geishecker, Lead Financial Institution and Policy Analyst, (202) 475-
6353, Division of Supervision and Regulation; Jeremy Hochberg, Managing
Counsel, (202) 452-6496; Matthew Dukes, Counsel, (202) 973-5096,
Division of Consumer and Community Affairs; Claudia Von Pervieux,
Senior Counsel, (202) 452-2552; Evans Muzere, Counsel, (202) 452-2621;
Alyssa O'Connor, Senior Attorney, (202) 452-3886, Legal Division, Board
of Governors of the Federal Reserve System, 20th and C Streets NW,
Washington, DC 20551.
FDIC: Thomas F. Lyons, Corporate Expert in Examination Policy,
<a href="/cdn-cgi/l/email-protection#e5b1a99c8a8b96a583818c86cb828a93"><span class="__cf_email__" data-cfemail="97c3dbeef8f9e4d7f1f3fef4b9f0f8e1">[email protected]</span></a>, (202) 898-6850); Judy E. Gross, Senior Policy Analyst,
<a href="/cdn-cgi/l/email-protection#571d2210253824241731333e3479303821"><span class="__cf_email__" data-cfemail="4a003f0d382539390a2c2e2329642d253c">[email protected]</span></a>, (202) 898-7047, Policy & Program Development,
Division of Risk Management Supervision; Paul Robin, Chief,
<a href="/cdn-cgi/l/email-protection#1a6a68757873745a7c7e7379347d756c"><span class="__cf_email__" data-cfemail="7505071a171c1b3513111c165b121a03">[email protected]</span></a>, (202) 898-6818, Supervisory Policy Section, Division
of Depositor and Consumer Protection; Marguerite Sagatelian, Senior
Special Counsel, <a href="/cdn-cgi/l/email-protection#dab7a9bbbdbbaebfb6b3bbb49abcbeb3b9f4bdb5ac"><span class="__cf_email__" data-cfemail="dab7a9bbbdbbaebfb6b3bbb49abcbeb3b9f4bdb5ac">[email protected]</span></a>, (202) 898-6690, Supervision,
Legislation & Enforcement Branch, Legal Division, Federal Deposit
Insurance Corporation; 550 17th Street NW, Washington, DC 20429.
OCC: Kevin Greenfield, Deputy Comptroller for Operational Risk
Division, Lazaro Barreiro, Director for Governance and Operational Risk
Policy, Emily Doran, Governance and Operational Risk Policy Analyst,
Stuart Hoffman, Governance and Operational Risk Policy Analyst,
Operational Risk Policy Division, (202) 649-6550; or Tad Thompson,
Counsel or Eden Gray, Assistant Director, Chief Counsel's Office, (202)
649-5490, Office of the Comptroller of the Currency, 400 7th Street SW,
Washington, DC 20219.
SUPPLEMENTARY INFORMATION: On July 19, 2021, the agencies published in
the Federal Register an invitation to comment on proposed guidance on
managing risks associated with third-party relationships.\1\ The
proposed guidance would offer a framework based on sound risk
management principles for banking organizations to consider in
developing risk management practices for 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 would replace each agency's existing guidance on
this topic and would be directed to all banking organizations
supervised by the agencies. The notice solicited respondents' views on
all aspects of the proposed guidance, including to what extent the
guidance provides sufficient utility, relevance, comprehensiveness, and
clarity for banking organizations with different risk profiles and
organizational structures.
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\1\ 86 FR 38182 (July 19, 2021).
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The proposed guidance provided for a comment period ending on
September 17, 2021. Since the publication of the proposal, the agencies
have received comments requesting a 30-day extension of the comment
period. An extension of the comment period will provide additional
opportunity for interested parties to analyze the proposed guidance and
prepare and submit comments. Therefore, the agencies are extending the
end of the comment period for the proposal from September 17, 2021 to
October 18, 2021.
By order of the Board of Governors of the Federal Reserve
System, acting through the Secretary of the Board under delegated
authority.
Ann E. Misback,
Secretary to the Board.
Michael J. Hsu,
Acting Comptroller of the Currency.
Federal Deposit Insurance Corporation.Dated at Washington, DC,
on September 3, 2021.
James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2021-19545 Filed 9-9-21; 8:45 am]
BILLING CODE P
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