BOARD OF GOVERNORS
FEDERAL RESERVE SYSTEM
WASHINGTON, D. C. 20551
DIVISION OF BANKING
SUPERVISION AND REGULATION
SR 94-46 (FIS)
August 17, 1994
TO THE OFFICER IN CHARGE OF SUPERVISION
AT EACH FEDERAL RESERVE BANK
SUBJECT: Combined Examination/Inspection Report For Bank Holding Companies With Lead State Member Banks
As part of the Federal Reserve's recent review of examination and supervisory policies and procedures, certain recommendations for enhancements have been agreed upon by Board and Reserve Bank senior officers. One of these recommendations is to permit Reserve Banks, under specific circumstances, to issue a combined report for a bank holding company and its lead state member bank subsidiary.
The combined report may be issued when:
- A bank holding company's lead bank subsidiary is a state member bank1; and
- The holding company's board formally approves a combined report being released to its lead state member bank subsidiary.
A letter should be sent to the qualified holding companies that explains their option of receiving a combined report. If the holding company's board wishes to receive a combined report, it should formally approve the release of the combined report to its lead state member bank subsidiary by board resolution.
A combined examination/inspection report format is attached. At a minimum, a combined report will contain all examination report pages required by SR 93-71 (final interagency examination report instructions), as well as information on the parent company, its subsidiaries, and the consolidated organization. For detailed information on required and optional pages, refer to Section 6000 of the Commercial Bank Examination Manual and Section 5010 of the Bank Holding Company Supervision Manual.
Please submit combined reports to:
Separate examination and inspection SIS entries are required for each combined report. The combined report's cover page should be light green and provide BHC and Bank RSSD numbers, as well as a clear indication that the report is a combined report.
Board of Governors
Division of Banking Supervision and Regulation
Mail Stop 153
Washington, D.C. 20551
A shell combined report format is available upon request (prepared in WordPerfect for Windows, Version 5.2). If you have any questions regarding the policy outlined above, or you wish to receive the shell report format, please contact David Watson at (202) 452-3412.
James I. Garner
Deputy Associate Director
ATTACHMENT MAY BE OBTAINED FROM FEDERAL RESERVE BANK
SR letters | 1994