Supervision in Brief

March 13, 2020
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Plans and actions to mitigate the effects of the coronavirus (COVID-19)

As we address the 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. Steps we have taken to date include adopting a work-from-home posture for all employees whose roles allow for such an arrangement, and, effective March 11, we are conducting all supervisory work offsite until further notice. The Federal Financial Institutions Examination Council has updated its guidance around pandemic planning, which identifies actions to minimize the potential adverse effects of a pandemic. We’d also like to draw your attention to the March 9 interagency press release encouraging financial institutions to meet financial needs of customers and members affected by coronavirus. Communication will be paramount during these times. 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.

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