Fed to Reserve Bank Exams After Scaling Back for Pandemic
On Monday June 15th the Federal Reserve announced that it is resuming examinations for Banks of all sizes. The Fed specifically stated that the rationale for this decision is that “As financial institutions have had time to implement contingency operating plans and adapt operations to the COVID-19 operating environment, the Federal Reserve is resuming examination activities for all firms, including financial institutions with total consolidated assets of less than $100 billion,” the Fed said in a statement.
With Examinations back on the calendar for Community Banks, now is the time to have a thorough review of your loan portfolio and identify any segment areas or specific borrowers that may require further attention. CEIS’ reviews are directed and led by experienced lenders and portfolio managers covering a multitude of industries and loan products & structures, this collective knowledge is to the benefit of our clients when preparing for an examination by a third party. Contact CEIS to schedule a review or discuss in detail.
Federal Reserve Resumes Examination Original Statement
Federal Reserve Statement on Supervisory Activities
Update to March 24, 2020 Statement
Federal Reserve Board additional information for financial institutions
- Posted by Justin Hill
- On Wednesday June 17th, 2020
- 0 Comments