On May 28, the OCC announced “significant” changes to its large bank supervisory process and its large bank examination force. The OCC plans to “expand the organization, functions, and responsibilities of its large bank lead expert program to improve horizontal perspective and analysis, systemic risk identification, quality control and assurance, and resource prioritization.” The OCC also will establish a formal program under which large bank examiners will rotate to another large bank every five years in cities with multiple large banks. The changes come in response to an international peer review initiated by the OCC. The OCC released a summary of the supervision peer review recommendations and the OCC’s responses, which describe a number of other supervisory changes including, among others: (i) formalizing an enterprise risk management framework that will involve “developing a risk appetite statement, creating a decision-tree process, and enhancing the OCC’s existing National Risk Committee framework and processes”; and (ii) expanding an ongoing review of Matters Requiring Attention “to enhance and standardize MRA definitions, methods for communication, resolution processes, establish consistent tracking mechanisms, and develop a consistent examiner reference guide.” The OCC declined to implement other recommended changes, including, for example, creating more flexibility within the CAMELS rating system or developing potential alternatives to CAMELS.