Federal Reserve Statement on Supervisory Activities

  • Source: Federalreserve.gov

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Article Highlights:

On June 15, 2020, the Federal Reserve (FRB) issued an updated statement on supervisory activities as a result of COVID-19 response. Since March 24, the FRB has been operating under a reduced focus on examinations to permit supervised entities to focus on adapting to COVID-19 and aiding customers impacted by the virus. The June 15 updated statement notified supervised institutions that the FRB is resuming examination activities for institutions of all sizes. Examinations, including full scope examinations, will be conducted remotely until conditions permit a return to on-site examinations.