The NBA and NHL seasons came to an end earlier this week, but that didn’t stop Acting Comptroller of the Currency Michael Hsu from using sports imagery to describe the work of federal regulators. Commenting on the release of the OCC’s Semiannual Risk Perspective for Spring 2023, Acting Comptroller Hsu said that the banks and the UCC’s examiners would be “on the balls of their feet” with regard to risk management.
Taking today’s sports analogy a step further, a regulatory dream team – the OCC, FRB, FDIC, NCUA and CFPB – proposed Interagency Guidance on Reconsiderations of Value of Residential Real Estate Valuations that focuses on policies and procedures that financial institutions may want to incorporate to address and mitigate valuation discrimination risks. My colleague Mercedes Tunstall and I take a closer look in this week’s issue.
Alix Prentice also provides some valuable insights into the European Banking Authority’s final report on amendments to its guidelines on improving resolvability under the Bank Recovery and Resolution Directive.
What’s on your mind? Happy to discuss. You can reach out to me here.
Daniel Meade
Partner and Editor, Cabinet News and Views
