Supervision & Regulation Letters (SR Letters)

Supervision and Regulation Letters, commonly known as SR Letters, address significant policy and procedural matters related to the Federal Reserve System’s supervisory responsibilities. This page provides links to public SR Letters issued since 2015.

If you have any questions regarding the content of the letters, please contact your dedicated central point of contact or Supervision + Credit liaison at the Federal Reserve Bank of San Francisco.

2021

SR 21-13, Revised Special Post-Employment Restriction for Senior Examiners and Work Paper Reviews for Departing Examiners

July 29, 2021

SR 21-12, Answers to Frequently Asked Questions on the Transition Away from London Interbank Offered Rate (LIBOR)

July 29, 2021

SR 21-11, FFIEC Architecture, Infrastructure, and Operations Examination Handbook

June 30, 2021

SR 21-10, Interagency Statement on the Issuance of the Anti-Money Laundering/Countering the Financing of Terrorism National Priorities

June 30, 2021

SR 21-9, Release of Updated Sections of the Federal Financial Institutions Examination Council’s Bank Secrecy Act/Anti-Money Laundering Examination Manual

June 22, 2021

SR 21-8, Interagency Statement on Model Risk Management for Bank Systems Supporting Bank Secrecy Act/Anti-Money Laundering Compliance

April 9, 2021

SR 20-30, Financial Institutions Subject to the LISCC Supervisory Program

Revised March 31, 2021

SR 21-7, Assessing Supervised Institutions’ Plans to Transition Away from the Use of LIBOR

March 9, 2021

SR 21-6, Highlighting the Federal Reserve System’s Partnership for Progress Program for Minority Depository Institutions

March 5, 2021

SR 21-5, Release of Updated Sections of the FFIEC’s Bank Secrecy Act/Anti-Money Laundering Examination Manual

February 26, 2021

SR 21-4, Inactive or Revised SR Letters Related to the Federal Reserve’s Supervisory Expectations for a Firm’s Board of Directors

February 26, 2021

SR 21-3, Supervisory Guidance on Board of Directors’ Effectiveness

February 26, 2021

SR 95-51, Rating the Adequacy of Risk Management Processes and Internal Controls at State Member Banks and Bank Holding Companies

Revised February 26, 2021

SR 16-14, Relying on the Work of the Regulators of the Subsidiary Insured Depository Institution(s) of Bank Holding Companies and Savings and Loan Holding Companies with Total Consolidated Assets of Less than $100 Billion

Revised February 17, 2021

SR 16-11, Supervisory Guidance for Assessing Risk Management at Supervised Institutions with Total Consolidated Assets Less than $100 Billion

Revised February 17, 2021

SR 21-2, Answers to Frequently Asked Questions Regarding Suspicious Activity Reporting and Other Anti-Money Laundering Considerations

January 19, 2021

2020

SR 20-31, Status of Certain Investment Funds and Their Portfolio Investments for Purposes of Regulation O and Reporting Requirements under Part 363 of FDIC Regulations

December 22, 2020

SR 20-29, Treatment of Certain Legacy Swaps Affected by Brexit and the Swap Margin Rule

December 11, 2020

SR 20-28, Internal Appeals Process for Material Supervisory Determinations and Policy Statement Regarding the Ombudsman for the Federal Reserve System

December 4, 2020

SR 20-27, Interagency Statement on LIBOR Transition

November 30, 2020

SR 20-26, Joint Fact Sheet on Bank Secrecy Act Due Diligence Requirements for Charities and Non-profit Organizations

November 19, 2020

SR 20-25, Interagency Statement – Reference Rates for Loans

November 6, 2020

SR 20-24, Interagency Paper on Sound Practices to Strengthen Operational Resilience

November 2, 2020

SR 20-23, Interagency Order Granting an Exemption from Customer Identification Program Requirements for Loans Extended by Banks and Their Subsidiaries to All Customers to Facilitate Purchases of Property and Casualty Insurance Policies

October 9, 2020

SR 20-22, ISDA IBOR Fallback Protocol and IBOR Fallback Supplement

October 9, 2020

SR 20-21, Joint Statement on Bank Secrecy Act Due Diligence Requirements for Customers Who May Be Considered Politically Exposed Persons

August 21, 2020

SR 20-20, Updated Fingerprinting Process Related to Applications Reviewed by the Federal Reserve

August 14, 2020

SR 20-19, Joint Statement on Enforcement of Bank Secrecy Act/Anti-Money Laundering Requirements

August 13, 2020

Attachment B to SR 20-2, Frequently Asked Questions on the Tailoring Final Rules

August 11, 2020

SR 20-18, Joint Statement on Additional Loan Accommodations Related to COVID-19

August 3, 2020

Addendum to SR 09-4, Applying Supervisory Guidance and Regulations on the Payment of Dividends, Stock Redemptions, and Stock Repurchases at Bank Holding Companies

July 24, 2020

SR 20-17, Federal Financial Institutions Examination Council Issues Joint Statement on Managing the LIBOR Transition

July 24, 2020

SR 20-16, Supervision of De Novo State Member Banks

June 24, 2020

SR 20-15, Interagency Examiner Guidance for Assessing Safety and Soundness Considering the Effect of the COVID-19 Pandemic on Institutions

June 23, 2020

SR 20-14, Interagency Lending Principles for Making Responsible Small-Dollar Loans

May 20, 2020

SR 20-13, Interagency Guidance on Credit Risk Review Systems

May 8, 2020

SR 20-12, Interagency Policy Statement on Allowance for Credit Losses

May 8, 2020

SR 20-11, Release of Updated Sections of the Federal Financial Institutions Examination Council’s Bank Secrecy Act/Anti-Money Laundering Examination Manual

April 15, 2020

SR 20-10, Small Business Administration (SBA) and Treasury Small Business Loan Programs

April 6, 2020

SR 20-9, Joint Statement on Interaction of the Regulatory Capital Rule: Revised Transition of the CECL Methodology for Allowances with Section 4014 of the Coronavirus Aid, Relief, and Economic Security Act

March 31, 2020

SR 20-8, Joint Statement on Adjustment to the Calculation for Credit Concentration Ratios Used in the Supervisory Approach

March 30, 2020

SR 20-7, Joint Statement Encouraging Responsible Small-Dollar Lending in Response to COVID-19

March 30, 2020

SR 20-6, Identification of Essential Critical Infrastructure Workers in the Financial Services Sector During the COVID-19 Response

March 27, 2020

SR 20-5, Questions and Answers (Q&As) on Statement Regarding the Use of Capital and Liquidity Buffers

March 19, 2020

SR 20-4, Supervisory Practices Regarding Financial Institutions Affected by Coronavirus

March 13, 2020

SR 20-3, Interagency Statement on Pandemic Planning

March 10, 2020

SR 20-2, Frequently Asked Questions on the Tailoring Rules

January 13, 2020

2019

SR 19-16, Status of Certain Investment Funds and Their Portfolio Investments for Purposes of Regulation O and Reporting Requirements under Part 363 of FDIC Regulations

December 27, 2019

SR 19-15, Revised Examination Guidelines for Representative Offices of Foreign Banks

December 12, 2019

SR 19-14, Statement on Providing Financial Services to Customers Engaged in Hemp-Related Businesses

December 3, 2019

SR 19-13, FFIEC Information Technology Examination Handbook

November 15, 2019

SR 19-12, Statement Regarding Insurance Policies for Directors and Officers

July 23, 2019

SR 19-11, Joint Statement on Risk-Focused Bank Secrecy Act/Anti-Money Laundering Supervision

July 22, 2019

SR 19-10, Final Rule Revising the Board’s Delegation Rules for Certain Types of Applications, Notices, and Requests

July 3, 2019

SR 19-9, Bank Exams Tailored to Risk (BETR)

June 3, 2019

SR 19-8, Frequently Asked Questions on the Current Expected Credit Losses Methodology (CECL)

April 3, 2019

SR 19-7, Statement on the Implications of the New Lease Accounting Standard on Regulation H

March 21, 2019

SR 19-6, Federal Financial Institutions Examination Council Policy Statement on the Principles for Completing the Report of Examination

March 11, 2019

SR 19-5, Communication Expectations for Community Bank Examinations and Inspections

March 7, 2019

SR 19-4, Supervisory Rating System for Holding Companies with Total Consolidated Assets Less Than $100 Billion

February 26, 2019

SR 19-3, Large Financial Institution (LFI) Rating System

February 26, 2019

SR 19-2, Voluntary Private Education Loan Rehabilitation Programs

February 4, 2019

2018

SR 18-10, Joint Statement on Innovative Efforts to Combat Money Laundering and Terrorist Financing

December 3, 2018

SR 18-9, Frequently Asked Questions on the Appraisal Regulations and the Interagency Appraisal and Evaluation Guidelines

October 16, 2018

SR 18-8, Interagency Statement on Sharing Bank Secrecy Act Resources

October 3, 2018

SR 18-7, Updates to the Expanded Examination Cycle for Certain State Member Banks and U.S. Branches and Agencies of Foreign Banking Organizations

October 1, 2018

SR 18-6, Interagency Exemption Order from Customer Identification Program Requirements for Loans Extended by Banks and Their Subsidiaries to Commercial Customers to Facilitate Purchases of Property and Casualty Insurance Policies

September 28, 2018

SR 18-5, Interagency Statement Clarifying the Role of Supervisory Guidance

September 12, 2018

SR 18-4, Policy Statement on Interagency Notification of Formal Enforcement Actions

June 29, 2018

SR 18-3, Federal Financial Institutions Examination Council Examination Procedures on Customer Due Diligence and Beneficial Ownership Rule

May 11, 2018

SR 18-2, Interagency Statement on Accounting and Reporting Implications of the New Tax Law

January 18, 2018

2017

SR 17-14, Interagency Supervisory Examiner Guidance for Institutions Affected by a Major Disaster

December 15, 2017

SR 17-13, Elimination of the Strength of Support Assessment (SOSA) for all Foreign Banking Organizations subject to the Interagency Program for Supervising the U.S. Operations of Foreign Banking Organizations

December 7, 2017

SR 17-12, Timing Expectations for the Completion of Safety-and-Soundness Examination and Inspection Reports for Regional Banking Organizations

October 26, 2017

SR 17-11, Interagency Frequently Asked Questions on Implementation of the Liquidity Coverage Ratio (LCR) Rule

October 23, 2017

SR 17-10, Temporary Exceptions to the FIRREA Appraisal Requirements in Areas Affected by Severe Storms and Flooding Related to Hurricanes Harvey, Irma, and Maria

October 17, 2017

SR 17-9, Supervisory Guidance for Examining Compliance with the Qualified Thrift Lender Test

September 7, 2017

SR 17-8, Frequently Asked Questions on the Current Expected Credit Losses Methodology (CECL)

September 6, 2017

SR 17-7, Regulatory Capital Treatment of Certain Centrally-cleared Derivative Contracts under the Board’s Capital Rule

August 14, 2017

SR 17-6, Overview of the Federal Reserve’s Supervisory Education Programs

August 1, 2017

SR 17-5, Procedures for a Banking Entity to Request an Extension of the One-Year Seeding Period for a Covered Fund

July 24, 2017

SR 17-4, Interagency Advisory on the Availability of Appraisers

June 1, 2017

SR 17-3, Initial Examinations for Compliance with Minimum Variation Margin Requirements for Non-Cleared Swaps and Non-Cleared Security Based Swaps

February 22, 2017

SR 17-2, Updates to the Expanded Examination Cycle for Certain State Member Banks and U.S. Branches and Agencies of Foreign Banking Organizations

January 12, 2017

2016

SR 16-19, Frequently Asked Questions on the Current Expected Credit Losses Methodology (CECL)

December 19, 2016

SR 16-18, Procedures for a Banking Entity to Request an Extended Transition Period for Illiquid Funds

December 9, 2016

SR 16-17, Supervisory Expectations for Risk Management of Reserve-Based Energy Lending Risk

December 1, 2016

SR 16-16, Special Post-Employment Restriction for Senior Examiners

November 16, 2016

SR 16-15, Exception to Appraisal Regulation Requirements in Areas Affected by Flooding in Louisiana

October 28, 2016

SR 16-14, FFIEC Information Technology Examination Handbook – Information Security Booklet

September 19, 2016

SR 16-13, Imposition of Special Measures by the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN)

July 29, 2016 (revised November 13, 2017)

SR 16-12, Interagency Guidance on the New Accounting Standard on Financial Instruments – Credit Losses

June 17, 2016

SR 16-11, Supervisory Guidance for Assessing Risk Management at Supervised Institutions with Total Consolidated Assets Less than $50 Billion

June 8, 2016

SR 16-9, Inactive Supervisory Guidance

April 21, 2016

SR 16-8, Off-site Review of Loan Files

April 19, 2016

SR 16-7, Interagency Guidance to Issuing Banks on Applying Customer Identification Program Requirements to Holders of Prepaid Access Cards

March 21, 2016

SR 16-5, Interagency Advisory on the Use of Evaluations in Real Estate-Related Financial Transactions

March 4, 2016

SR 16-4, Relying on the Work of the Regulators of the Subsidiary Insured Depository Institution(s) of Bank Holding Companies and Savings and Loan Holding Companies with Total Consolidated Assets of Less than $50 Billion

March 3, 2016

SR 16-3, Interagency Guidance on Funds Transfer Pricing Related to Funding and Contingent Liquidity Risks

March 1, 2016

SR 16-2, Interagency Advisory on External Audits of Internationally Active U.S. Financial Institutions

January 15, 2016

2015

SR 15-19, Federal Reserve Supervisory Assessment of Capital Planning and Positions for Large and Noncomplex Firms

December 18, 2015

SR 15-18, Federal Reserve Supervisory Assessment of Capital Planning and Positions for LISCC Firms and Large and Complex Firms

December 18, 2015

SR 15-17, Interagency Statement on Prudent Risk Management for Commercial Real Estate Lending

December 18, 2015

SR 15-16, Enhancements to the Federal Reserve System’s Surveillance Program

December 10, 2015

SR 15-15, Supervisory Concerns Related to Shareholder Protection Arrangements

December 3, 2015

SR 15-13, Supervisory Guidance on the Capital Treatment of Certain Investments in Covered Funds under the Regulatory Capital Rule and the Volcker Rule

November 6, 2015

SR 15-12, Spanish Translation of the 2014 Federal Financial Institutions Examination Council’s Bank Secrecy Act/Anti-Money Laundering Examination Manual

October 15, 2015

SR 15-11, Examinations of Insured Depository Institutions Prior to Membership or Merger into a State Member Bank

October 13, 2015

SR 15-10, Expansion of the Federal Reserve’s Emergency Communications System

October 13, 2015

SR 15-9, FFIEC Cybersecurity Assessment Tool for Chief Executive Officers and Boards of Directors

July 2, 2015

SR 15-8, Name Check Process for Domestic and International Applications

June 25, 2015

SR 15-7, Governance Structure of the Large Institution Supervision Coordinating Committee (LISCC) Supervisory Program

April 17, 2015

SR 15-6, Interagency Frequently Asked Questions (FAQs) on the Regulatory Capital Rule

April 6, 2015

SR 15-5, Guidance to Encourage Financial Institutions’ Youth Savings Programs and Address Related Frequently Asked Questions

February 24, 2015

SR 15-4, Tool for Calculating Capital Requirements Using the Simplified Supervisory Formula Approach

February 13, 2015

SR 15-2, Guidance on Private Student Loans with Graduated Repayment Terms at Origination

January 29, 2015

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Letters issued prior to 2015