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Bank Use of Foreign-Based Third-Party Service Providers

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Citation Edit

Office of the Comptroller of the Currency, Bank Use of Foreign-Based Third-Party Service Providers (OCC Bulletin 2002-16) (May 15, 2002) (full-text).

Overview Edit

This bulletin provides guidance to national banks on managing the risks that may arise from their outsourcing relationships with foreign-based third-party service providers. It also addresses the need for a national bank to establish relationships with foreign-based third-party service providers in a way that does not diminish the ability of the OCC to access, in a timely manner, data or information needed to effectively supervise the bank's operations.

This bulletin supplements previously issued OCC and interagency guidance on outsourcing relationships with third parties.

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