Supervision in Brief
This publication offers observations by the Head of Supervision of Financial Institution Supervision and Credit (FISC) on current banking and regulatory issues facing 12th District institutions.
We are ready to restart examination activity and have issued interagency guidance for safety and soundness (SR 20-15). This guidance recognizes that external events such as COVID-19 can have an adverse impact on a financial institution’s condition that may not be reflective of management’s efforts to mitigate these risks. The interagency guidance instructs examiners to consider the unique, evolving, and potential long-term nature of the issues confronting institutions.
As we address the unique and challenging circumstances of the coronavirus (COVID-19), the Federal Reserve Bank of San Francisco is focused on carrying out our important responsibilities through continuity of operations, while being mindful of the safety and well-being of everyone affected. Our top priority is the health and well-being of our employees, communities, and constituents. We will continue to communicate relevant information as soon as it becomes available, and we stand ready to support our employees, member banks and customers in any way we can.