**[U.S. Regulators Release Proposed Guidance on Bank Third-Party Risk Management]** Odaily Planet Daily News – U.S. regulators issued a statement on Friday announcing proposed guidance on third-party risk management for banks. The Federal Reserve, Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation, and National Credit Union Administration stated that the proposal aims to help banks and credit unions "better align and tailor their third-party risk management practices to match the risks of individual third-party relationships." Federal Reserve staff noted in a memorandum that the plan comes at a time when banks are increasingly outsourcing certain functions and relying on third-party relationships to improve efficiency and reduce costs. The plan will be open for public comment, is non-binding, and seeks to focus institutional oversight of such risks on a principles-based approach. Federal Reserve Governor Barr opposed the proposal, citing concerns over the standards for "significant financial risks."