Federal Banking Agencies Extend Third-Party Risk Comment Deadline
Four U.S. banking regulators have pushed back the public comment deadline on third-party risk management guidance by one month, to December 16.
Four federal financial regulators have granted additional time for public input on proposed guidance governing how banks and credit unions manage risks tied to outside business relationships, extending the comment deadline by one month.
The Federal Deposit Insurance Corporation, the Federal Reserve Board, the National Credit Union Administration, and the Office of the Comptroller of the Currency jointly announced the extension. The original deadline for submitting comments had been set for November 16, but will now run through December 16.
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The proposed guidance addresses how federally regulated financial institutions are expected to identify, assess, and oversee risks that arise from their dealings with third parties — a category that can include technology vendors, payment processors, and other service providers critical to daily banking operations.
Extensions of this kind typically signal that regulators have recognized significant stakeholder interest in a rulemaking and are allowing more time for industry participants, consumer advocates, and other affected parties to submit thorough responses. The move does not indicate any change in the substance of the underlying proposal.
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