Errata

The Federal Reserve revised this report on May 14, 2019, to reflect corrected data. The revision is listed below.

On p. 6, the data for figure 7, the credit default swap spread series, were corrected for July 2018 through March 2019. Incorrect data were originally listed for July, causing the monthly series to be incorrectly aligned for each subsequent month. The data for July have been corrected from 63.05 basis points to 61.98 basis points, with subsequent months now listing the correct data.

Preface

The Board of Governors of the Federal Reserve System (Board) believes that publishing periodic information about banking conditions and the Federal Reserve's supervisory and regulatory activities—typically in conjunction with testimony before Congress by the Vice Chair for Supervision—will enhance public transparency and heighten accountability.

The inaugural report, published in November of 2018, looked at trends going back to the financial crisis. This report focuses on how the Federal Reserve tailors its supervisory and regulatory programs based on size and complexity.

This report consists of three main sections, in addition to a Summary of key developments and trends:

  • The Banking System Conditions section provides an overview of trends in the banking sector based on data collected by the Federal Reserve and other federal financial regulatory agencies as well as market indicators of industry conditions.
  • The Regulatory Developments section provides an overview of the current areas of focus of the Federal Reserve's regulatory policy work, including pending rules.
  • The Supervisory Developments section provides background information on supervisory programs and approaches, as well as an overview of key supervisory themes and trends, supervisory findings, and supervisory priorities. In so doing, the report distinguishes between large financial institutions and regional and community banking organizations because supervisory approaches and priorities for these institutions frequently differ.
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Last Update: May 16, 2019