FDIC Press Releases RSS

Agencies Issue Revised Model Risk Management Guidance

The FDIC, OCC, and Federal Reserve jointly issued revised model risk management guidance for banking organizations. The guidance clarifies that model risk management should be tailored to the size, complexity, and model risk profile of each organization, covering model development and use, validation, monitoring, governance, and third-party/vendor product considerations. The agencies explicitly state the guidance does not create enforceable standards or prescriptive requirements, and non-compliance will not result in supervisory criticism. FDIC simultaneously rescinded two prior guidance letters: FIL-22-2017 and FIL-27-2021.

Principals of U.S., European Banking Union, and U.K. Financial Authorities To Meet for Regular Coordination Exercise on Cross-Border Resolution Planning

The FDIC will host the Trilateral Principal Level Exercise (TPLE) on April 18, 2026, bringing together principals and senior officials from U.S., European Banking Union, and U.K. financial authorities for a regular coordination exercise on cross-border resolution planning for global systemically important banks (G-SIBs).

FDIC Announces Four Senior Leadership Appointments

The FDIC announced four senior leadership appointments on April 13, 2026: Benjamin Olson as Director of the Division of Depositor and Consumer Protection (DCP), Shawn Khani as Director of the Division of Resolutions and Receiverships (DRR), Trey Maust as Chief Innovation Officer, and Sam Lupas as Deputy Chief of Staff. These appointments take effect immediately and do not create new regulatory obligations for FDIC-supervised institutions.