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Collection: Semiannual Risk Perspective
OCC Reports on Risks, Effects of COVID-19 Pandemic on Federal Banking System
The Office of the Comptroller of the Currency (OCC) today reported the key issues facing the federal banking system and the effects of the COVID-19 pandemic on the federal banking industry in its Semiannual Risk Perspective for Fall 2021.
Banks are weathering the COVID-19 crisis with resilience and satisfactory credit quality and strong earnings, but weak loan demand and low net interest margins (NIM) continue to weigh on performance. The OCC highlighted operational, credit, compliance, and strategic risks, among the key risk themes in the report.
Highlights from the report include:
The report also highlights an OCC initiative to act on the risk that climate change presents to the federal banking system.