Office of theComptroller of the Currency – August 6, 2023

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Editor’s Note: What does this mean? This bulletin was published recently this year as guidelines for banking operation “in times of stress”.

This document may be a written document verifying that “alternate” sources of liquidity (QFS, gold, USN, new BRICS currency, cryptocurrency) are appropriate for use in our current banking system…replacing the traditional USD $$.

If this supposition is correct, this opens doors for a new means by which abundance and prosperity can, and IS occurring, readying the platform sure to have us ALL BE in…

Quantum Joy!

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Office of the
Comptroller of the Currency

To

Chief Executive Officers of All National Banks, Federal Savings Associations, and Federal Branches and Agencies; Department and Division Heads; All Examining Personnel; and Other Interested Parties

Summary

The Office of the Comptroller of the Currency (OCC), Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, and National Credit Union Administration (collectively, the agencies¹) are issuing an addendum to the “Interagency Policy Statement on Funding and Liquidity Risk Management” issued March 22, 2010. The addendum reminds banks² of the importance of maintaining, assessing, and testing their contingency funding plans as part of their liquidity risk management program and activities.

Note for Community Banks

This addendum applies to community banks.

Highlights

The events of the first half of 2023 have further underscored the importance of liquidity risk management and contingency funding planning. The addendum highlights the importance of contingency funding plans to promote the availability of adequate sources of funding in times of stress, including that banks

assess the stability of their funding and maintain a broad range of funding sources that can be accessed in adverse circumstances.
ensure that they have access to a range of contingent sources of funding, especially when some contingency lines may be unavailable in times of idiosyncratic or market stress.
review and revise contingency funding plans periodically, and more frequently as market conditions or strategic initiatives change.
understand requirements and maintain operational readiness to borrow from federal funding facilities, such as the Federal Reserve discount window, if these facilities are part of their contingency funding plans.