US agencies issue joint enforcement policy on Venezuela relief
Federal Reserve, FDIC, NCUA, and OCC jointly issued a statement of enforcement policy supporting Venezuela's economic recovery and earthquake relief efforts.
The federal banking agencies coordinated an enforcement posture to facilitate humanitarian and recovery-related financial flows to Venezuela. This signals discretionary flexibility for institutions supporting relief efforts, but does not eliminate underlying sanctions and AML obligations.
Alters supervisory expectations for Venezuela-linked exposures and humanitarian corridors, affecting sanctions screening calibration and correspondent banking risk appetite.
Action Required
Review sanctions compliance frameworks and transaction monitoring rules to align with the joint enforcement policy on permitted Venezuela-related activity.
Multi-agency enforcement statements on sanctioned jurisdictions materially shape institutional risk appetite and compliance posture.
Update sanctions policy to reflect joint agency enforcement discretion on Venezuela relief flows. Reassess correspondent banking controls and humanitarian payment channels; ensure OFAC alignment and documented risk rationale.
“The Federal Reserve, FDIC, NCUA, and OCC are issuing a joint statement of enforcement policy in support of Venezuela's economic recovery and earthquake relief efforts.”