The Office of the Comptroller of the Currency (OCC) released proposed guidelines that would establish minimum standards for the design and implementation of a risk governance framework for large insured national banks, insured federal savings associations, and insured federal branches of foreign banks with average total consolidated assets of $50 billion or more as well as minimum standards for a board of directors in overseeing the design and implementation of the framework. The proposal would reserve the OCC’s authority to apply the guidelines to an institution with less than $50 billion in assets if the OCC determines that it is highly complex or otherwise presents a heightened risk.