Board of Governors of the Federal Reserve System

On May 7, 2024, the Board, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency released Third-Party Risk Management: A Guide for Community Banks to assist community banks when developing and implementing their third-party risk management practices. More... While this guide is written for a community bank audience, banking organizations of all sizes and risk profiles may find it useful. It offers potential considerations, resources, and examples through each stage of the third-party risk management life cycle. This guide is intended as a voluntary resource for community banks to view in tandem with the June 2023 Interagency Guidance on Third-Party Relationships: Risk Management.