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Entries in OCC Bulletin 2011-12 (1)

Tuesday
Jun202017

FDIC Adopts FRB's "Model Risk Management Guidance"

On June 7th, the Federal Deposit Insurance Commission announced its adoption of Supervisory Guidance on Model Risk Management that was previously adopted in 2011 by the Federal Reserve Board (SR 11-7) and the Office of Comptroller of the Currency (OCC Bulletin 2011-12). The FDIC’s action was announced through a Financial Institution Letter, FIL-22-2017. The FDIC expects the new requirements will not “generally pertain” to FDIC-supervised institutions with assets under $1 billion, unless the use of such models are “significant, complex, or poses elevated risk to the institution.”

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