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On October 30, 2014, the U.S. OCC published revised policies and procedures regarding the management of Matters Requiring Attention due to supervised institutions’ examinations.
On October 30, 2014, the U.S. Office of the Comptroller of the
Currency ("OCC") published revised policies and
procedures regarding the management of Matters Requiring Attention
("MRAs") due to supervised institutions'
examinations. MRAs allow the communication of specific supervisory
concerns found during examinations to management teams and boards
of regulated institutions in writing. In return, MRAs must receive
corrective action by the bank's management team and/or board.
The updated guidance improves the agency's ability to provide
for a safe and sound federal banking system. It emphasizes
timeliness and corrective action. The guidance further standardizes
MRA terminology, format, follow-up, analysis, and reporting. The
principles of the MRA guidance are applicable to examinations of
all national banks, federal savings associations, and federal
branches and agencies.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.