The Office of the Comptroller of the Currency (OCC) released a proposal that would formalize enhanced governance and risk management standards for large national banks and federal thrifts that were developed in the wake of the financial crisis.
The OCC developed a set of “heightened expectations” and began to communicate them informally to large supervised institutions in 2010. The agency said the proposal, released on Jan. 16, would build upon and formalize those expectations to provide additional clarity and specificity to the large financial institutions that the OCC oversees.