# Federal Agencies Seek Comment on Third-Party Risk Guidance

Federal financial regulatory agencies including the Federal Reserve Board, FDIC, NCUA, and OCC have jointly proposed updated third-party risk management guidance aimed at helping banks and credit unions better manage risks associated with third-party relationships. This principles-based, non-binding framework is intended to replace existing guidance and promote consistency and prudent innovation across the banking sector. A companion guide specifically addresses Federal Reserve-supervised community banks. The agencies have opened a 60-day public comment period following Federal Register publication, signaling forthcoming changes in supervisory expectations for financial institutions' third-party engagements and core service provider relationships.

- **Why this matters:** Procurement professionals and contractors serving financial institutions should anticipate evolving supervisory expectations that may affect contract requirements and risk management practices.
- The principles-based approach encourages innovation while maintaining prudent risk controls, potentially impacting vendor selection and oversight processes.
- Organizations supporting community banks should review the companion guide to understand tailored expectations for Federal Reserve-supervised institutions.
- Companies can leverage the comment period to provide input or prepare for adjustments in third-party risk management frameworks that influence contract terms and compliance obligations.

**Jurisdictions:** federal
**Industries:** Professional Services, Healthcare
**Topics:** Regulatory Compliance
**Published:** September 13, 2026

### Government Entities
- Federal Deposit Insurance Corporation (FDIC)
- Federal Reserve Board (FRB)
- National Credit Union Administration (NCUA)
- Office of the Comptroller of the Currency (OCC)
- Board of Governors of the Federal Reserve System (Federal Reserve Board)

### Sources
- [Agencies Seek Comment on Proposed Third-Party Risk Management Guidance and Issue Statement on Community Bank Engagement with Core Service Providers | NCUA](https://ncua.gov/newsroom/press-release/2026/agencies-seek-comment-proposed-third-party-risk-management-guidance-and-issue-statement-community) - NCUA
- [Agencies Seek Comment on Proposed Third-Party Risk Management Guidance and Issue Statement on Community Bank Engagement with Core Service Providers | FDIC.gov](https://www.fdic.gov/news/press-releases/2026/agencies-seek-comment-proposed-third-party-risk-management-guidance-and) - FDIC
- [Federal Reserve Board - Agencies seek comment on proposed third-party risk management guidance and issue statement on community bank engagement with core service providers](https://www.federalreserve.gov/newsevents/pressreleases/bcreg20260911a.htm) - Federal Reserve