In a joint statement, the FDIC, the Federal Reserve Board and the OCC highlighted key crypto-asset risks to banking organizations and outlined their approach to crypto-asset-related supervision.
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The Federal Reserve Board, the FDIC and the OCC extended previously issued no-action relief to asset managers and other institutions from regulations that limit extensions of credit to "insiders."
In its semiannual risk perspective, the OCC highlighted the operational, credit compliance and interest rate risks impacting the federal banking system.
Acting OCC Comptroller Michael J. Hsu said that he expects banks to improve credit risk management practices under the new "current expected credit losses" standard.
The OCC updated its Policies and Procedures Manual on assessing civil money penalties in response to misconduct.