This section highlights new technological developments utilized for examinations of community banks within the Fifth District.
To improve examination efficiency and reduce hard-copy records, the Supervision, Regulation and Credit Department (SRC) has adopted the use of electronic work papers. For your institutions, this use of electronic documents should reduce some of the burden involved with the preparation and delivery of information for our reviews. Examiners generally send an email with instructions on how to set up secure stationery prior to the initial meeting with management. Once secure communication is established, there are three approved options for delivering electronic information.
Electronic documents can be submitted using one or a combination of the methods for handling and delivering confidential electronic information. The three approved methods include: encrypted secure email, an encrypted website for bulk data transfer or an encrypted flash drive sent by the Reserve Bank. Our secure email system is easy to set up and allows users to establish a reusable password; however, this method may require multiple emails due to file size limitations. The encrypted website allows users to share large amounts of information easily, although the set up takes longer and there is a learning curve to posting documents and notifications. The final method is the use of an encrypted USB flash drive, which will hold up to 2 GB of information and will be sent to your institution directly through overnight delivery with a postage-paid return envelope. The password for the flash drive will be provided to you separately through our secure email process. During the on-site portion, examiners may also share a USB flash drive or use a scanner to electronically capture hard-copy reports.
In preparation for the next examination, we will ask that you communicate your preferred method for delivering information by sending an email to RICHSRC.BusinessSupport@rich.frb.org. Many bankers have proactively indicated a preference based on the recent email notification. If you have questions or concerns regarding the use of one of these approved methods, please contact Business Support at the email address provided.
If you have any questions about any of these or other topics, please contact your Fifth District relationship manager or email BKSRCommunications.RICH@rich.frb.org.
The analyses and conclusions set forth in this publication are those of the authors and do not necessarily indicate concurrence by the Board of Governors, the Federal Reserve Banks, or the members of their staffs. Although we strive to make the information in this publication as accurate as possible, it is made available for educational and informational purposes only. Accordingly, for purposes of determining compliance with any legal requirement, the statements and views expressed in this publication do not constitute an interpretation of any laws, rule or regulation by the Board or by the officials or employees of the Federal Reserve System.
Supervision, Regulation & Credit