The Credit Risk Management (CRM) unit administers daylight and overnight credit to Fifth District depository institutions through our discount window, payment system risk, condition monitoring and collateral functions.
Condition monitoring is charged with minimizing the risk of loss to the Federal Reserve and U.S. Treasury from weak or failing depository institutions, and more generally, avoiding losses that undermine the integrity of the payments system or the credibility of the Federal Reserve. To this end, condition monitoring staff monitors the safety and soundness of all Fifth District institutions that access or may access services provided by the Federal Reserve itself or by the Federal Reserve as agent for the U.S. Treasury, including national member banks, nonmember banks, savings institutions, and credit unions. Staff continues to monitor the condition of high-risk institutions for material changes in risk or service activity levels until such time that monitoring is no longer necessary. This change in monitoring status could arise because of improvement in an institution's condition, because an institution is acquired by another institution, or because an institution fails. In the case of an acquisition or failure, condition monitoring staff will assist the primary regulator with an orderly resolution of the institution.
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