NOTIFICATION: STATEMENT OF ENFORCEMENT POLICY IN SUPPORT OF VENEZUELA'S ECONOMIC RECOVERY AND EARTHQUAKE RELIEF EFFORTS

The following information was released by the Comptroller of the Currency:

Summary

On July 31, 2026, staffs of the Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the National Credit Union Administration (collectively, the agencies), issued a statement of enforcement policy in support of U.S. government efforts to facilitate humanitarian relief and promote financial stability following the recent earthquakes in Venezuela (the Joint Statement). The Joint Statement provides, subject to certain conditions and limitations, that eligible U.S. financial institutions that choose to provide financial services to persons or entities in Venezuela will not be subject to any supervisory action, including citing a violation of law, or subject to an enforcement action by the agencies related to a Bank Secrecy Act (BSA) requirement as a result of providing such authorized financial services. The Joint Statement is intended to reinforce a substantively similar statement by the Department of Treasurys Financial Crimes Enforcement Network (FinCEN), which was issued in consultation with the agencies, regarding its own enforcement policy with respect to providing financial services to persons or entities in Venezuela.1

Note for Community Banks

This guidance applies to all OCC-supervised banks.

Highlights

On June 24, 2026, Venezuela experienced a pair of strong earthquakes off the northern coast, west of Caracas, which have caused significant damage in several cities and triggered a humanitarian crisis in the region. The agencies recognized in the Joint Statement that the timely provision of humanitarian aid can be impaired if institutions that are otherwise able to facilitate the provision of financial services to address the humanitarian crisis are unwilling to do so due to regulatory uncertainty. Accordingly, the agencies committed in the Joint Statement that their supervised entities will not be subject to any supervisory action, including citing a violation of law, or enforcement action related to a BSA requirement as a result of providing authorized financial services in Venezuela. The Joint Statements commitment applies to authorized financial services provided by an agency-supervised financial institution to persons or entities located in Venezuela from July 31, 2026, through January 29, 2027.

All OCC-supervised institutions may rely on this commitment in the Joint Statement provided that the supervised institution

is currently in compliance with applicable BSA compliance program requirements and continues to engage in reasonable efforts to comply with applicable BSA requirements, taking into account the governments interests in rapidly providing humanitarian relief and rapidly promoting financial stability in the region;

has not been the subject of a final enforcement action with FinCEN or the OCC within the prior 24 months that involves violations of BSA requirements; and

remains compliant with any applicable Office of Foreign Assets Control-administered sanctions regulations and authorizations.

The Joint Statement is intended to recognize that financial institutions exercising reasonable care to avoid violations of applicable BSA requirements in support of Venezuelas economic recovery and earthquake relief efforts are not penalized for actions other than for knowing, willful, or intentional violations of any BSA requirements

The Joint Statement only applies to statutes or regulations specifically addressed in the Joint Statement.