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 |
