Heads up! The Fed, FDIC, and OCC have issued an new interagency paper entitled "Sound Practices to Strengthen Operational Resilience".
This guidance does not necessarily expand existing regulations or guidance. Instead, it lists 'sound practices' contained in existing regs and guidance. Topics covered include:
- operational risk management
- business continuity management
- third-party risk management
- cybersecurity risk management; and
- recovery and resolution planning
The guidance is intended for largest and most complex domestic banking organizations (ie, ones with assets of more than $100 billion); however, it's great guidance for institutions of any size.
You can check out the full text here:
https://www.federalreserve.gov/supervisionreg/srletters/SR2024.htm