On June 30, 2009, several agencies released for comment proposed guidance to communicate consistent expectations on sound practices for the management of funding and liquidity risks. The Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve (the Federal Reserve), the Federal Deposit Insurance Corporation (FDIC), the Office of Thrift Supervision (OTS), and National Credit Union Administration (NCUA) joined in the guidance in order to bring into alignment liquidity risk principles with guidance issued in September 2008 by the Basel Committee on Banking Supervision (BCBS). The BCBS liquidity principles focus on large financially active financial institutions, and these guidelines will set expectations for domestic institutions. When finalized, the principles will apply to all domestic financial institutions, including banks, thrifts and credit unions.

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