Supervision & Regulation

Supervision

 

building columns

The Supervision, Regulation and Credit Department has supervisory authority over all state-chartered banks in the Fifth District that have elected to become members of the Federal Reserve. In addition, the department also supervises the corporations that own District banks (known as bank holding companies) and the operations of any foreign bank conducting business in the District.

 

Safety and Soundness Supervision

Examiners conduct commercial bank examinations and bank holding company inspections to evaluate the soundness of the institution's assets and the effectiveness of its internal operations, policies and management.

Consumer Affairs Supervision

Consumer Affairs examiners evaluate a bank's compliance with consumer protection laws and regulations.

Specialty Supervision (Information Technology and Fiduciary examinations)

Information Technology examiners evaluate the quality and reliability of a financial institution's computer systems and networks. Information technology examiners also conduct reviews of application software shared by the financial services industry.

Fiduciary examiners review the trust operations and asset management activities of financial institutions to ensure their activities are conducted in a prudent manner and comply with applicable laws, regulations and fiduciary standards.

Exam Process

Target exams may be performed on any bank, bank holding company, or financial holding company. Target exams review specific areas of companies.Targeted reviews are generally performed on the larger, more complex banking organizations as part of the continuous supervision process to focus more effectively on a company’s principal risks and internal systems for managing those risks.

Enforcement Actions

Enforcement actions are necessary for violations of laws, rules, or regulations, unsafe or unsound practices, breaches of fiduciary duty, and violations of final orders. Actions can be assessed against any entity the Federal Reserve has authority to supervise, including officers, directors, and employees. Formal enforcement actions include written agreements, cease and desist orders, removal and prohibition orders, and orders assessing civil money penalties.

Banking Studies

Each Reserve Bank tracks macro banking and economic trends and conditions in its region. This supports the supervisory process through the preparation of banking/economic studies and by development of new monitoring tools. Specific emphasis is given to areas of emerging risk and banking policy issues to determine the potential impact on supervised institutions.

Additional Resources

  • 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.
  • Supervision Manuals  
Contact Us

Richmond

Supervision, Regulation & Credit
(804) 697-8000