Bank examiners start asking about AI agents and Chinese models

The Federal Reserve, the OCC and the FDIC are making written and verbal inquiries to “large, mid-size and smaller banks” about their use of AI, Reuters reported on October 13, citing six people familiar with the matter. The questions ask whether banks deploy Chinese-developed technology and whether they use AI agents in cyber defense. All three agencies declined to comment.

The questions go to control design. Examiners want to know what limits apply to agents, how their actions are monitored and approved, and whether their decisions can be tracked and audited. They also ask whether humans stay in key decisions and how an autonomous system can be shut down. Reuters said regulators are “still gathering information and are not yet being prescriptive.”

The inquiries fill a gap the agencies left open. The April model-risk guidance says generative and agentic AI are outside its scope, and the AI request for information it promised has not been published.