The June 6, 2023 Interagency Guidance on Third-Party Relationships: Risk Management remained the controlling federal third-party risk framework during the July 18 to August 1, 2026 period. The guidance rescinded and replaced the FDIC's 2008 third-party risk guidance and sets expectations for planning, due diligence, contract negotiation, ongoing monitoring, and termination.
What changed
The interagency framework replaced older FDIC guidance and established a single risk-based baseline for managing third-party relationships.
Compliance perspective
Banks should continue aligning vendor management, fintech partnership oversight, contract review, and monitoring practices to the 2023 interagency framework. Even without a new July 2026 issuance, this guidance remains central to examinations and internal control design.
Key date
Effective date: June 6, 2023.
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