[Federal Register Volume 86, Number 173 (Friday, September 10, 2021)]
[Notices]
[Page 50789]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-19545]


-----------------------------------------------------------------------

FEDERAL RESERVE SYSTEM

[Docket No. OP-1752]

FEDERAL DEPOSIT INSURANCE CORPORATION

RIN 3064-ZA26

DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency

[Docket ID OCC-2021-0011]


Proposed Interagency Guidance on Third-Party Relationships: Risk 
Management

AGENCY: The Board of Governors of the Federal Reserve System (Board), 
the Federal Deposit Insurance Corporation (FDIC), and the Office of the 
Comptroller of the Currency (OCC).

ACTION: Proposed interagency guidance and request for comment; 
extension of comment period.

-----------------------------------------------------------------------

SUMMARY: On July 19, 2021, the Board, FDIC, and OCC (together, the 
agencies) published in the Federal Register an invitation to comment on 
proposed guidance on managing risks associated with third-party 
relationships. The notice provided for a comment period ending on 
September 17, 2021. In response to commenters' requests for additional 
time to analyze and respond to the proposal, the agencies are extending 
the comment period for 30 days until October 18, 2021.

DATES: For the notice of proposed guidance published on July 19, 2021 
(86 FR 38182), comments must be received by October 18, 2021.

ADDRESSES: You may submit comments by any of the methods identified in 
the proposal.

FOR FURTHER INFORMATION CONTACT: 
    Board: Nida Davis, Associate Director, (202) 872-4981; Timothy 
Geishecker, Lead Financial Institution and Policy Analyst, (202) 475-
6353, Division of Supervision and Regulation; Jeremy Hochberg, Managing 
Counsel, (202) 452-6496; Matthew Dukes, Counsel, (202) 973-5096, 
Division of Consumer and Community Affairs; Claudia Von Pervieux, 
Senior Counsel, (202) 452-2552; Evans Muzere, Counsel, (202) 452-2621; 
Alyssa O'Connor, Senior Attorney, (202) 452-3886, Legal Division, Board 
of Governors of the Federal Reserve System, 20th and C Streets NW, 
Washington, DC 20551.
    FDIC: Thomas F. Lyons, Corporate Expert in Examination Policy, 
[email protected], (202) 898-6850); Judy E. Gross, Senior Policy Analyst, 
[email protected], (202) 898-7047, Policy & Program Development, 
Division of Risk Management Supervision; Paul Robin, Chief, 
[email protected], (202) 898-6818, Supervisory Policy Section, Division 
of Depositor and Consumer Protection; Marguerite Sagatelian, Senior 
Special Counsel, [email protected], (202) 898-6690, Supervision, 
Legislation & Enforcement Branch, Legal Division, Federal Deposit 
Insurance Corporation; 550 17th Street NW, Washington, DC 20429.
    OCC: Kevin Greenfield, Deputy Comptroller for Operational Risk 
Division, Lazaro Barreiro, Director for Governance and Operational Risk 
Policy, Emily Doran, Governance and Operational Risk Policy Analyst, 
Stuart Hoffman, Governance and Operational Risk Policy Analyst, 
Operational Risk Policy Division, (202) 649-6550; or Tad Thompson, 
Counsel or Eden Gray, Assistant Director, Chief Counsel's Office, (202) 
649-5490, Office of the Comptroller of the Currency, 400 7th Street SW, 
Washington, DC 20219.

SUPPLEMENTARY INFORMATION: On July 19, 2021, the agencies published in 
the Federal Register an invitation to comment on proposed guidance on 
managing risks associated with third-party relationships.\1\ The 
proposed guidance would offer a framework based on sound risk 
management principles for banking organizations to consider in 
developing risk management practices for third-party relationships that 
takes into account the level of risk, complexity, and size of the 
banking organization and the nature of the third-party relationship. 
The proposed guidance would replace each agency's existing guidance on 
this topic and would be directed to all banking organizations 
supervised by the agencies. The notice solicited respondents' views on 
all aspects of the proposed guidance, including to what extent the 
guidance provides sufficient utility, relevance, comprehensiveness, and 
clarity for banking organizations with different risk profiles and 
organizational structures.
---------------------------------------------------------------------------

    \1\ 86 FR 38182 (July 19, 2021).
---------------------------------------------------------------------------

    The proposed guidance provided for a comment period ending on 
September 17, 2021. Since the publication of the proposal, the agencies 
have received comments requesting a 30-day extension of the comment 
period. An extension of the comment period will provide additional 
opportunity for interested parties to analyze the proposed guidance and 
prepare and submit comments. Therefore, the agencies are extending the 
end of the comment period for the proposal from September 17, 2021 to 
October 18, 2021.

    By order of the Board of Governors of the Federal Reserve 
System, acting through the Secretary of the Board under delegated 
authority.

Ann E. Misback,
Secretary to the Board.

Michael J. Hsu,
Acting Comptroller of the Currency.

    Federal Deposit Insurance Corporation.Dated at Washington, DC, 
on September 3, 2021.

James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2021-19545 Filed 9-9-21; 8:45 am]
BILLING CODE P