Federal Reserve
Has SR 26-2 replaced SR 11-7 model-risk guidance?
Content reviewed 2026-10-10 · How we check sources
Short answer
Yes. The Federal Reserve’s SR 26-2 letter of 17 April 2026 replaces SR 11-7 and SR 21-8. It expects the guidance to be most relevant to Federal Reserve-regulated banks with more than $30 billion in assets.
Applies to: SR 26-2 covering letter · full attached framework needs separate review
What this means
The letter describes a risk-based approach tailored to the bank’s model risk, size and complexity. It is supervisory guidance.
The $30 billion statement describes expected relevance; it is not a blanket exemption for smaller banks. This answer reviews the covering letter, not the full attached guidance or every model control.
Your next step
- Check your bank’s supervisor and model use.
- Identify policy references to SR 11-7 and SR 21-8.
- Review the full attachment before changing model controls.
Suggested workflow; confirm applicability for your institution.
Official sources
Federal Reserve — SR 26-2, 17 April 2026 ↗Ask with your entity, activity and regulator.
Regulatory research, not legal advice. This answer has the scope and review date shown above; your institution decides applicability.