Financial Services AI Risk Management Framework (FS AI RMF) and AI Lexicon (U.S. Treasury)

Summary

On February 19, 2026, the Treasury released two resources for AI use in financial services, under the AI Action Plan: a shared AI Lexicon of common terms and the Financial Services AI Risk Management Framework (FS AI RMF), which adapts the NIST AI Risk Management Framework to the operational, regulatory and consumer-protection needs of financial services. They were developed through the Financial and Banking Information Infrastructure Committee and the Financial Services Sector Coordinating Council's AI Executive Oversight Group, with the Cyber Risk Institute. According to KPMG, a contributor, the framework comprises an AI adoption-stage questionnaire, a risk and control matrix of 230 control objectives, a user guide and a control objective reference guide, and was built with more than 100 institutions, associations, advisers and tool providers. Treasury describes the two resources as part of a series of deliverables on identity, fraud, explainability and data practices. Use is voluntary.

Key dates

1. February 19, 2026 (publication)Takes effect
2. February 19, 2026Issued
3. October 16, 2026Checked against sources
4. October 21, 2026Checked against sources

Developments are added when the record is reviewed. Next review: January 15, 2027.

Evidence

Each passage is quoted from its source. The quoted passages are re-checked against the live pages every month.

1. the U.S. Department of the Treasury today released two new resources to guide AI use in the financial sector, a shared Artificial Intelligence Lexicon and the Financial Services AI Risk Management Framework (FS AI RMF)

   Supports: Release of both resources

   February 19, 2026 WASHINGTON

   Supports: Date

   the Financial Services AI Risk Management Framework adapts the NIST AI Risk Management Framework to the specific operational, regulatory, and consumer protection considerations of financial services.

   Supports: Adapts NIST AI RMF

   The AI Lexicon and FS AI RMF are part of a coordinated series of AIEOG deliverables addressing priority areas such as identity, fraud, explainability, and data practices.

   Supports: Series of deliverables

   Treasury Releases Two New Resources to Guide AI Use in the Financial Sector (press release sb0401) U.S. Department of the Treasury Primary source

2. Risk and Control Matrix A robust matrix with 230 control objectives linked to risk statements and trustworthy AI principles.

   Supports: 230 control objectives

   the effort involved a diverse body of more than 100 financial institutions, trade associations, expert advisors, and tool providers.

   Supports: Development participants

   Deconstructing the Cyber Risk Institute Financial Services Artificial Intelligence Risk Management Framework KPMG Reporting or analysis