OCC's Heightened Standards for Large Financial Institutions (Fed. Reg.)

The OCC guidelines which establish minimum standards for large financial institutions were published in the Federal Register. The guidelines provide that covered institutions should establish and adhere to a written risk governance framework to manage and control its risk-taking activities, as well as provide minimum standards for the institutions' board of directors to oversee the risk governance framework.

The guidelines are effective on November 10, 2014. Compliance dates for the guidelines vary as specified in the release.

See:79 FR 54518. Related news: OCC Finalizes Heightened Standards for Large Financial Institutions (with Cammarn Comment) (September 2, 2014).