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News Release 2021-127
December 6, 2021
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WASHINGTON—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.
The report covers risks facing national banks, and federal savings associations based on data as of June 30, 2021. The report presents information in five main areas: the operating environment, bank performance, special topic on community banks, trends in key risks, and supervisory actions. It focuses on issues that pose threats to those financial institutions regulated by the OCC and is intended as a resource to the industry, examiners, and the public.
Stephanie Collins (202) 649-6870