The Clearing House (TCH) released its 2015 edition of Guiding Principles for Enhancing U.S. Banking Organization Corporate Governance (Governance Principles), which aims to provide a framework for bank corporate governance that seeks to facilitate more effective board oversight, enhance bank safety and soundness, promote confidence in banks and encourage consistent supervisory guidance. The Governance Principles expand upon the original version TCH released in 2012 to reflect recent industry, legal and regulatory developments. While effective board oversight requires an appropriate level of director interaction with management, the Governance Principles stress that a central tenet of good corporate governance is the distinction between the board’s responsibility for oversight of the business and affairs of the banking organization and the board’s delegation to management of the responsibility for the day-to-day operations.
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