Financial Regulatory Developments – Jul 5, 2018 Issue 26/2018

Bank Prudential Regulation & Regulatory Capital

US Office of the Comptroller of the Currency Releases Updated Supervision Booklets

On June 28, 2018, the U.S. Office of the Comptroller of the Currency announced updates to a number of supervision booklets, including the "Bank Supervision Process," "Community Bank Supervision," "Compliance Management Systems" and "Large Bank Supervision" booklets of the Comptroller's Handbook, and the "Federal Branches and Agencies Supervision" booklet. The updated booklets replace previously issued booklets of the same titles. The OCC also provided a table of previously issued bulletins and publications that have been rescinded and incorporated into the updated booklets. At a high level, the revisions and updates clarify the applicability of the booklets for financial institutions of differing size; add content with respect to asset management, including assessing Bank Secrecy Act, anti-money laundering and Office of Foreign Assets