OCC 2017 FAQ 13 – Can banks obtain access to interagency technology service providers’ (TSP) reports of examination?

Compliance > Third Party Relationships / Vendor Mgmt.
Q:  Can banks obtain access to interagency technology service providers’ (TSP) reports of examination?
 
A:  TSP reports of examination are available only to banks that have contractual relationships with the TSPs at the time of the examination. Because the OCC’s (and other federal banking regulators’) statutory authority is to examine a TSP that enters into a contractual relationship with a regulated financial institution, the OCC (and other federal banking regulators) cannot provide a copy of a TSP’s report of examination to financial institutions that are either considering outsourcing activities to the examined TSP or that enter into a contract after the date of examination.
 
Banks can request TSP reports of examination through the banks’ respective OCC supervisory office. TSP reports of examination are provided on a request basis. The OCC may, however, proactively distribute TSP reports of examination in certain situations because of significant concerns or other findings to banks with contractual relationships with that particular TSP.
 
Although a bank may not share a TSP report of examination or the contents therein with other banks, a bank that has not contracted with a particular TSP may seek information from other banks with information or experience with a particular TSP as well as information from the TSP to meet the bank’s due diligence responsibilities.
 
 
ADDITIONAL INFORMATION:
This information was obtained from the OCC’s Bulletin 2017-21 – Frequently asked Questions to Supplement OCC Bulletin 2013-29 - https://www.occ.gov/news-issuances/bulletins/index.html
 

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