OCC Outlines Supervisory Priorities in Mid-Cycle Status Report

The Office of the Comptroller of the Currency ("OCC") released its mid-cycle status report, which provides an update of the 2016 operating plan of its Committee on Bank Supervision. Supervisors are instructed to use the updated plan and report to help determine their supervisory priorities for the fiscal year.

Supervisory priorities for the remainder of 2016 include the following:

• compliance with consumer laws, regulations and guidance;
• operational resiliency against information security risks and cybersecurity threats, and the enhancement of third-party relationship risk management;
• credit risk management;
• stress testing;
• strategic planning and execution by bank board management of new products and services, business model changes, and merger and acquisition activities;
• corporate governance; and
• interest rate risk measurement.