OCC Bulletin 2011-12: Sound Practices for Model Risk Management
OCC Bulletin 2011-12, 'Supervisory Guidance on Model Risk Management,' articulated the elements of a sound program for managing risk from quantitative models used in bank decision-making. Its text was substantively identical to the Federal Reserve's SR 11-7, reflecting that both agencies developed the guidance jointly, and it applied to national banks and federal savings associations supervised by the OCC.
OCC Bulletin 2011-12 was the OCC's companion issuance to the Federal Reserve's SR 11-7, published the same day in April 2011, applying identical model risk management expectations to OCC-supervised national banks and federal savings associations. It was rescinded April 17, 2026 and replaced by OCC Bulletin 2026-13, issued jointly with the Fed and FDIC.
- Issuing body
- Office of the Comptroller of the Currency
- Official reference
- www.occ.treas.gov/news-issuances/bulletins/2011/bulletin-201
What it covers
- Sound practices for model development, implementation, and use
- Independent model validation as a distinct, resourced function separate from model development
- Governance, policies, and controls, including board and senior management oversight of the model risk program
- Model risk scales with model complexity, uncertainty about inputs, scope of use, and potential impact
- Applied specifically to OCC-supervised national banks and federal savings associations
Adoption status
The OCC rescinded Bulletin 2011-12 on April 17, 2026, alongside the Federal Reserve's rescission of SR 11-7, replacing it with Bulletin 2026-13, 'Model Risk Management: Revised Guidance.' The 2026 guidance explicitly states it does not set forth enforceable standards or prescriptive requirements, and non-compliance alone will not result in supervisory criticism, a notable shift toward a risk-based, tailored posture. It is expected to be most relevant to institutions with over $30 billion in total assets, though smaller OCC-supervised banks with meaningful model risk exposure may still find it relevant.
Reference only. This page explains what OCC 2011-12 covers; it is not a claim that Model Risk Directory or any listed vendor satisfies it. Verify alignment directly against the issuing body's own current text before relying on it.
Sources. source 1 · source 2 · source 3. Data as of 2026-07. See methodology.