11 large US banks under OCC supervision have "insufficient" or "weak" risk management, with operational risks like cyberattacks and employee errors as key concerns.
11 of the 22 large US banks under the OCC's supervision have "insufficient" or "weak" risk management capabilities, with one-third receiving ratings of 3 or below on a 5-point scale. The confidential assessment identified operational risks such as cyberattacks and employee errors as key areas of concern. The OCC emphasizes the need for banks to remain vigilant and actively manage their risks, following recent high-profile bank failures and global IT outages.
July 21, 2024
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