In response to a 2018 petition from ABA and the Bank Policy Institute, the federal banking agencies today issued a proposal that would codify their joint statement clarifying that regulatory guidance does not have the force and effect of law.
As the Federal Reserve ramps up its post-COVID-19 examination program, Fed Governor Michelle Bowman said in a speech today, examiners’ “initial focus will be to assess higher risk banks, particularly those with credit concentrations in higher risk or stressed industries.”
The FDIC late Friday proposed to establish a new Office of Supervisory Appeals that would replace the current Supervision Appeals Review Committee.
On-site bank examinations will happen, but regulators still do not know when.
Federal financial regulators today said they will ramp up their supervisory focus on banks’ transitions away from the London Interbank Offered Rate in 2020 and 2021.
Recognizing the significant and long-lasting effects of the coronavirus pandemic on financial institutions, federal and state financial regulators today issued joint guidance for how examiners should assess the effects of COVID-19 on the safety and soundness of banks and credit unions.
The Federal Reserve today announced that it will resume its normal bank examination activities
In bank examinations, the Federal Reserve Bank of Atlanta will not penalize banks for “emergency decisions” made in response to the pandemic, Atlanta Fed President and CEO Raphael Bostic said today, according to a report in the Wall Street Journal.
The Federal Reserve will “temporarily reduce” its bank examination activities as it pivots to focus on responding to the immediate challenges posed by the coronavirus, the agency said in a statement tonight.