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Financial Services Law Insights and Observations

FDIC Updates Supervisory Guidance on Risk Management Examination Policies

Agency Rule-Making & Guidance FDIC Risk Management Bank Supervision Vendor Management

Agency Rule-Making & Guidance

On July 26, the FDIC issued Financial Institution Letter FIL-31-2017 to announce updates to its Risk Management Manual of Examination Policies. The revisions, which incorporated guidance from the FDIC’s Board of Directors, updated the Report of Examination Instructions regarding matters requiring board attention and “deviations from the safety and soundness principles underlying statements of policy.” The revision also included updated instructions for examiners to use when complying with examination schedules. The letter applies to all FDIC-supervised financial institutions.