WASHINGTON—Acting Comptroller of the Currency Michael J. Hsu today kicked off the fifth year of the Office of the Comptroller of the Currency’s (OCC) summer High School Scholars Internship Program (HSSIP). In partnership with the District of Columbia’s Department of Employment Services Summer Youth Employment Program, the OCC recruits rising seniors and recent high school […]
Category Archives: Office of the Comptroller of the Currency
OCC Hosts Credit and Operational Risk Workshops in Charlottesville
WASHINGTON—The Office of the Comptroller of the Currency (OCC) will host two workshops August 1-2 in Charlottesville, Va., for directors, senior management, and other key executives of national community banks and federal savings associations. The Credit Risk: Recognizing and Responding to Risk workshop on August 1 covers the roles of the board and management, credit […]
Acting Comptroller Discusses Tokenization, Artificial Intelligence
WASHINGTON—Acting Comptroller of the Currency Michael J. Hsu today discussed the benefits and risks of tokenization and artificial intelligence (AI) in remarks at the American Bankers Association’s Risk and Compliance Conference in San Antonio. In his remarks, the Acting Comptroller discussed how risk and compliance can facilitate responsible innovation in AI and tokenization, and the […]
OCC Reports First Quarter 2023 Bank Trading Revenue
WASHINGTON—The Office of the Comptroller of the Currency (OCC) reported cumulative trading revenue of U.S. commercial banks and savings associations of $17.6 billion in the first quarter of 2023. The first quarter trading revenue was $8.0 billion, or 83.3 percent, more than in the previous quarter and $7.0 billion, or 66.0 percent, more than in […]
Acting Comptroller Issues Statement on Key Risks Facing Federal Banking System
WASHINGTON—Acting Comptroller of the Currency Michael J. Hsu today issued the following statement on the publication of the Office of the Comptroller of the Currency’s (OCC) Semiannual Risk Perspective Spring 2023 report. The Semiannual Risk Perspective (SARP) for Spring 2023 highlights key risks facing the federal banking system – risks that we expect bankers to […]
OCC Report Identifies Key Risks Facing Federal Banking System
WASHINGTON—The Office of the Comptroller of the Currency (OCC) today reported the key issues facing the federal banking system in its Semiannual Risk Perspective for Spring 2023. The OCC reported that the overall strength of the federal banking system is sound. The OCC has closely monitored the condition of the institutions it supervises throughout the […]
OCC Hosts Credit and Operational Risk Workshops in Minneapolis
WASHINGTON—The Office of the Comptroller of the Currency (OCC) will host two workshops July 18-19 in Minneapolis for directors, senior management, and other key executives of national community banks and federal savings associations. The Credit Risk: Recognizing and Responding to Risk workshop on July 18 covers the roles of the board and management, credit risk […]
OCC Requests Comment for Survey on Trust in Banking
WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced a request for information to gather input on a proposed annual trust survey with the goal of understanding, measuring, and tracking the public’s trust in banking and bank supervision by the OCC and other banking regulators over time. The OCC invites interested members of […]
Acting Comptroller Discusses Trust and Banking
WASHINGTON—Acting Comptroller of the Currency Michael J. Hsu today discussed the Office of the Comptroller of the Currency’s (OCC) efforts to promote and safeguard trust in banking at the Woodstock Institute’s 50th anniversary celebration in Chicago. In his remarks, the Acting Comptroller discussed the OCC’s work to elevate fairness and advance financial inclusion and fair […]
Agencies Propose Interagency Guidance on Reconsiderations of Value for Residential Real Estate Valuations
Five federal regulatory agencies today requested public comment on proposed guidance addressing reconsiderations of value (ROV) for residential real estate transactions. The proposed guidance advises on policies that financial institutions may implement to allow consumers to provide financial institutions with information that may not have been considered during an appraisal or if deficiencies are identified […]