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.
PDF Help - Information on downloading and using the PDF reader.