Guidelines Establishing Standards for Corporate Governance and Risk Management for Covered Institutions With Total Consolidated Assets of $10 Billion or More
12 CFR Part 360 RIN 3064–AF94
Notice of proposed rulemaking and issuance of guidelines
88 FR 70391
Comment Period End: December 11, 2023
Extended Comment Period End: February 9, 2024
Summary: The FDIC is proposing to issue a new appendix C to standards for safety and soundness in 12 CFR part 364, with conforming amendments to part 308, to provide Guidelines to FDIC-supervised institutions with total consolidated assets of $10 billion or more. The Guidelines are intended to set the FDIC’s expectations for covered institutions regarding corporate governance, risk management, and the board of director’s oversight. These expectations include a risk management program with a three-lines-of-defense model, held accountable by the CEO and the board, and would include responsibilities of the independent risk management unit, audit unit, and front line units.
Submitted By |
01. American Bankers Association and 3 other organizations |
02. Independent Bankers Association of Texas |
03. Brian Knight |
04. Veronica Sellers |
05. CSBS, James M. Cooper |
06. Nell Minow |
07. BancFirst Corporation, David Rainbolt |
08. Sturdy Savings Bank |
09. Abbott Cooper |
10. Gary Liotta |
11. Citizens Business Bank |
12. Ceres Accelerator, Todd Miller, Holly Li, et al. |
13. U.S. Chamber of Commerce, Tom Quaadman |
14. The Society for Corporate Governance |
15. Veritex Holdings, Inc. and Veritex Community Bank |
16. Council of Institutional Investors |
17. National Association of Corporate Directors |
18. North Carolina Bankers Association |
19. Bank OZK, Helen Brown |
20. International Bancshares Corporation (IBC), Dennis E. Nixon |
21. Mid-Size Bank Coalition of America |
22. Pinnacle Bancorp, Inc |
23. Apple Bank |
24. North Dakota Department of Financial Institutionsc, Lise Kruse |
25. Union Bank & Trust |
26. Bank of Springfield |
27. Form Letter A from 82 commenters |
28. Bank of Eastern Oregon, Ed Rollins |
29. Cadence Bank, Shanna Kuzdzal |
30. Nebraska Bankers Association, Richard Baier |
31. Sallie Mae Bank, Kerri A. Palmer |
32. Ameris Bancorp, Jody Spencer, Bill McKendry |
33. Hancock Whitney Bank, Joy Lambert Phillips, Michael Otero |
34. Public Citizen, Bart Naylor |
35. International Corporate Governance Network, Kerrie Waring |
36. Texas Department of Banking, Charles G. Cooper |
37. Texas Capital Bank, Anna Alvarado |
38. Jeremy C. Kress |
39. Conference of State Bank Supervisors (CSBS), Karen K. Lawson |
40. Independent Community Bankers of America, Jenna Burke |
41. TowneBank, George P. Whitley |
42. FirstBank, Beth W. Sims |
43. The Sunrise Project and 3 other organizations |
44. Comenity Bank and Comenity Capital Bank |
45. Busey Bank, Van A. Dukeman |
46. Americas Mutual Banks, Douglas Faucette |
47. Nebraska Independent Community Bankers, S. Dexter Schrodt |
48. IDB Bank, Leslie K. Case |
49. Amarillo National Bank, William Ware |
50. American Bankers Association and State Alliance of 52 other organizations |
51. Bank Policy Institute (BPI) and American Association of Bank Directors (AABD), Gregg Rozansky and David Baris |
52. Better Markets, Dennis Kelleher |
53. Commissioner of Banks of the State of North Carolina, Katherine M.R. Bosken |
54. Discover Bank, Hope D. Mehlman |
55. Governor Doug Burgum of North Dakota |
56. Mississippi Department of Banking and Consumer Finance, Rhoshunda Kelly |
57. Starling Insights, Inc. |
58. Washington Federal Bank (WaFd) Bank, Brent J. Beardall |
59. First Internet Bank, Nicole S. Lorch |
60. National Association of Industrial Bankers, Frank R. Pignanelli |
61. Independent Community Bankers of America and 40 other organizations |
62. Oregon Bankers Association |
63. The Heritage Foundation, David R. Burton |
64. CIBC Bank USA, Shawn Beber |
65. New Market Bank, Anita Drentlaw |
66. Georgia Bankers Association, Joe Brannen |
Meeting Memoranda |
01. Meeting Between the Chairman and Supervision Leadership of the Federal Deposit Insurance Corporation and the Conference of State Bank Supervisors Executive Committee |