The Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, the National Credit Union Administration and the Office of the Comptroller of the Currency have requested comment on proposed guidance to help financial institutions manage risks associated with third-party relationships. The request was announced in a joint press release dated September 11, 2026.
According to the regulators, the proposal draws on their supervisory experience and lessons from examinations of third-party risk management practices. The document is intended to help banks and credit unions better align and adapt their practices to the risks of individual third-party relationships. The approach is described as principles-based, and the guidance itself, like any supervisory guidance, is not mandatory.
Once finalized, the federal banking regulators plan to rescind the existing third-party risk management guidance and replace it with the new version — for consistency and responsible innovation in the banking industry. Comments will be accepted for 60 days after publication in the Federal Register.
Separately, the regulators issued a statement on small banks' interactions with essential service providers. It describes the factors the agencies will consider in supervisory and enforcement decisions regarding such providers. The Federal Reserve Board also separately requested comment on proposed guidance for the small banks it supervises.