OCC Issues Updated Mortgage Banking Booklet.
On February 7th the OCC issued the "Mortgage Banking" booklet of the Comptroller's Handbook. The updated booklet replaces a similarly titled booklet issued in March 1996 (and examination procedures issued in March 1998). The updated booklet also replaces Section 750, "Mortgage Banking," issued in November 2008 as part of the former Office of Thrift Supervision's Examination Handbook. The updated booklet provides guidance to examiners and bankers on assessing the quantity of risk associated with mortgage banking and the quality of mortgage banking risk management. OCC Bulletin.
OCC Bulletin on Proposed Heightened Standards for Large Banks.
On February 5th, the OCC published a bulletin on its proposed rule that would establish minimum standards for the design and implementation of a risk governance framework for large insured national banks, insured federal savings associations, and insured federal branches of foreign banks with average total consolidated assets of $50 billion or more. The proposal also would establish minimum standards for an institution's board of directors in overseeing the framework's design and implementation.
The OCC will host two workshops in Houston, Texas, on March 11-12, 2014 for directors of national community banks and federal savings associations. The "Compliance Risk" and "Risk Assessment" workshops are designed exclusively for directors of institutions supervised by the OCC. The compliance risk workshop focuses on major compliance risks and consumer protection regulations, such as the Flood Disaster Protection Act, including the recent Biggert Waters amendments, along with core elements of an effective compliance risk management program. The risk assessment workshop discusses the OCC's approach to risk-based supervision, and best practices to identify, measure, monitor and control risk. Focus areas include enterprise risk management, operational risk, and cybersecurity. OCC Press Release.