13 Aug FDIC – Issued Request for Information on Supervisory Approach to Bank Examinations During the Pandemic
August 13, 2021 – Aims to streamline, improve efficiency and efficacy in planning future examinations.
Approach to Exams in Pandemic: Safety and soundness exams conducted in accordance with federal deposit insurance (FDI) act, s.10(d), 12 USC 1820; compliance and fair lending exams also conducted. Agency leveraged technology for certain exam functions remotely prior to pandemic. During the pandemic, examiners continued FDIC examination program despite conditions. Considering the experiences with the COVID-19 pandemic, the agency wants to leverage what worked well.
Comment Request: Requested comment on processes, technologies leveraged to conduct off-site exams. Asked for input on what worked well in off-site exam context to inform future exam plans. Including on-site and off-site activity, use of technology, and communication methods.
Effectiveness: Comments in response to the RFI on offsite bank exams should be sent by October 12, 2021.
For more information, visit www.fdic.gov.