On November 20, 2014, the Federal Reserve Board announced that it will issue two separate reviews on its examination program for large banking organizations. The first review will be conducted by the Inspector General and evaluate whether there are satisfactory methods for the Federal Reserve Board to acquire all necessary information to make supervisory assessments and determinations. The review will also assess whether the right channels exist for decision-makers to be aware of divergent views regarding material issues. The second review will be led by the Federal Reserve Board, which will conduct its own similar review focusing specifically on the most systemically important financial institutions in the US.
The Director of Division of Banking Supervision and Regulation letter regarding the reviews is available at: