The Office of Thrift Supervision has released updated guidance on managing third-party arrangements, including those with affiliated entities. The agency first released guidance on this subject in March of 2003, in Thrift Bulletin 82, which complemented prior bulletins on outsourcing information technology and internal audit functions. The new update on third party arrangements, Thrift Bulletin 82a, makes minor changes in the definition of “significant” contracts, clarifies certain board and management responsibilities, and modifies notification requirements regarding foreign