Tag Archives: Office of the Comptroller of the Currency (OCC)

In a new report, the OCC highlights the nation’s credit, market, operational, and compliance risks, as well as other key issues facing the federal banking system.

Building on feedback from stakeholders and research, three federal agencies have issued updates to the 50-plus-year-old Community Reinvestment Act to strengthen and modernize its regulations to better achieve the purposes of the law.

The OCC, FDIC, and Federal Reserve have outlined a framework for the safe and sound management of exposure to climate-related financial risks for large financial institutions. Here’s what that means for the industry.

The OCC has issued its findings on the performance of first-lien mortgages in the federal banking system during Q2, as 97.3% of mortgages were found current and performing at the end of the quarter, compared to 97.6% in Q1.

As financial institutions evaluate their tech budgets, experts say concern about data security takes a front seat, as fintech firms must prioritize risk and compliance in today's marketplace.

During a recent House Financial Services Subcommittee on Financial Institutions and Monetary Policy meeting, Greg Coleman of the Office of the Comptroller of the Currency noted that “the OCC’s role is to ensure that national banks and federal savings associations understand their climate-related financial risks and develop comprehensive risk management frameworks and capabilities to identify, measure, monitor and control those risks.”

Overall mortgage performance was on the upswing in the first quarter of 2023, as the OCC reported banks serviced approximately 12 million first-lien residential mortgage loans with $2.7 trillion in unpaid principal balances—representing 22% of all residential mortgage debt outstanding nationwide.

After closely monitoring the condition of the institutions it supervises throughout the market stress this spring, a new report from the OCC examines how financial institutions have managed risk and restored confidence in the banking system in Q1.

inal guidance from the Federal Reserve, FDIC, and OCC outlines principles and considerations for banking organizations’ risk management of third-party relationships.

The OCC’s latest Mortgage Metrics Report found that mortgage servicers nationwide initiated 9,166 new foreclosures in the fourth quarter of 2022, a decrease from Q3’s totals but a higher volume than recorded in Q4 2021.