On September 11, 2026, several federal agencies jointly announced a request for public comment on proposed principles-based third-party risk management guidance for supervised financial institutions. This collaborative initiative involves the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, the National Credit Union Administration, and the Office of the Comptroller of the Currency.

The proposed guidance aims to provide a structured approach to managing third-party risks, which are increasingly significant in today’s financial services landscape. The framework emphasizes principles that institutions can adapt to their specific circumstances, promoting robust risk management practices across the industry.

In addition to the guidance proposal, the agencies issued an interagency statement focusing on the supervision of core service providers, particularly emphasizing the engagement of community banks. This statement reflects a dedicated effort to enhance oversight in critical areas of service provision that impact the stability and resilience of community financial institutions.

Stakeholders and interested parties are encouraged to submit comments within 60 days following the publication of the notice in the Federal Register. This consultative process seeks to gather diverse insights to refine and strengthen the final guidance and supervisory approaches.