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Financial Institution Letter |
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The FDIC Publishes Sound Practices to Strengthen Operational Resilience |
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Summary
The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation today published an interagency paper titled "Sound Practices to Strengthen Operational Resilience." The sound practices paper brings together existing regulations and guidance as well as common industry standards to provide a comprehensive approach that banks may use to strengthen and maintain their operational resilience. The agencies are not revising existing rules or guidance.
The sound practices paper is attached along with an explanatory note.
Statement of Applicability to Institutions Under $1 Billion in Total Assets
The sound practices paper is directed to the largest and most complex domestic banking organizations.
Distribution
FDIC-Supervised Institutions
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