How to gain more from operational risk management practices.
Modern risk management technology solutions improve efficiency and provide greater visibility into risks. Today’s tools provide real-time visibility, action plans, enhanced reporting and business intelligence, and proactive notifications for operational risk. Real-time data empowers banks and financial services organizations to proactively manage risks and instantly detect and mitigate emerging issues. Click here to learn more.
Regulators statement following Tennessee tornadoes
The OCC, Federal Reserve, FDIC, NCUA and the Tennessee Department of Financial Institutions have issued a joint press release stating they recognize the serious impact of tornadoes in Tennessee on the customers and operations of many financial institutions and will provide appropriate regulatory assistance to affected institutions subject to their supervision. The agencies encourage institutions operating in the affected areas to meet the financial services needs of their communities. A complete list of affected disaster areas can be found at http://www.fema.gov/.
The release offers information on:
- Use of temporary facilities
- Publishing requirements relating to branch closings, relocations and temporary facilities
- Regulatory reporting requirements
- Community Reinvestment Act consideration for financial institutions' actions
The FDIC has also issued FIL-16-2020 with steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Tennessee affected by severe storms, tornadoes, straight-line winds and flooding.