Release Date: November 20, 2014
For release at 4:00 p.m. EST
The Federal Reserve Board on Thursday announced two separate reviews that are underway at the Federal Reserve System to ensure that the examinations of large banking organizations are consistent, sound, and supported by all relevant information.
At the request of the Board, its Inspector General is examining two aspects of the Federal Reserve System's examination program for large banking organizations:
- Whether there are adequate methods for decision-makers at the relevant Reserve Banks and at the Board to obtain all necessary information to make supervisory assessments and determinations;
- And whether channels exist for decision-makers to be aware of divergent views among an examination team regarding material issues.
Additionally, the Board is conducting its own review of the supervision of the largest, most systemically important financial institutions in the United States. This review will focus on:
- Whether the decision-makers at the Board receive the information needed to ensure consistent and sound supervisory decisions regarding the supervision of the largest, most complex banking organizations;
- And whether adequate methods are in place for those decision-makers to be aware of material matters that required reconciliation of divergent views related to supervision of those firms.
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