美联储-监督管理报告（2024年5月） Supervision and Regulation Report 202405

0GOV*

RALRESE··

SupervisionandRegulationReport

May2024

BOARDOFGOVERNORSOFTHEFEDERALRESERVESYSTEM

TheFederalReserveSystemisthecentral

bankoftheUnitedStates.ItperformsfivekeyfunctionstopromotetheeffectiveoperationoftheU.S.economyand,moregenerally,thepublicinterest.

TheFederalReserve

■conductsthenation’smonetarypolicytopromotemaximumemploymentandstablepricesintheU.S.economy;

■promotesthestabilityofthefinancialsystemandseekstominimize

andcontainsystemicrisksthroughactivemonitoringandengagementintheU.S.andabroad;

■promotesthesafetyandsoundnessofindividualfinancialinstitutions

andmonitorstheirimpactonthefinancialsystemasawhole;

■fosterspaymentandsettlementsystemsafetyandefficiencythroughservicestothebankingindustryandU.S.governmentthatfacilitate

U.S.-dollartransactionsandpayments;and

■promotesconsumerprotectionandcommunitydevelopmentthrough

consumer-focusedsupervisionandexamination,researchandanalysisofemergingconsumerissuesandtrends,communityeconomicdevelopmentactivities,andadministrationofconsumerlawsandregulations.

Tolearnmoreaboutus,visit/aboutthefed.htm.

i

Contents

Preface

iii

Abbreviations

v

ExecutiveSummary

1

BankingSystemConditions

3

RegulatoryDevelopments

11

SupervisoryDevelopments

13

SupervisedInstitutions 14

LargeFinancialInstitutions

16

CommunityandRegionalBankingOrganizations 20

Appendix:DataSourcesandTerms 25

DataSources

25

NotesonDataSourcesandTerms 26

iii

Preface

TheFederalReservepromotesthesafetyandsoundnessofindividualfinancialinstitutionsandmonitorstheirimpactonthefinancialsystem.Itisresponsibleforsupervising—monitoring,

inspecting,andexamining—certainfinancialinstitutionsofvaryingsizeandcomplexitytoensurethattheycomplywithrulesandregulations,andthattheyoperateinasafeandsoundmanner.TheFederalReservesupervisesbankholdingcompanies,savingsandloanholdingcompanies,theU.S.operationsofforeignbankingorganizations,andstatememberbanks.

TheFederalReserveBoardpublishesitssemiannualSupervisionandRegulationReporttoinformthepublicofcurrentbankingconditionsaswellasprovidetransparencyaboutitssupervisoryandregulatorypoliciesandactions.Previousreportsareavailableat

/

publications/supervision-and-regulation-report.htm.

FormoreinformationonhowtheFederalReserveBoardpromotesthesafetyandsoundnessofindividualfinancialinstitutionsandthefinancialsystemseeTheFedExplained:WhattheCentralBankDoesat

/aboutthefed/the-fed-explained.htm

andvisitthe

SupervisionandRegulationwebpageontheBoard’spublicwebsiteat

/

supervisionreg.htm.

v

Abbreviations

ACL

allowanceforcreditlosses

AML

anti-moneylaundering

ASU

AccountingStandardsUpdate

BHC

bankholdingcompany

BSA

BankSecrecyAct

BTFP

BankTermFundingProgram

CA

ConsumerAffairs

CAMELSratings

Capital,Assetquality,Management,Earnings,Liquidity,andSensitivitytomarketrisk

CBLR

CommunityBankLeverageRatio

CBO

communitybankingorganization

CDS

creditdefaultswap

CECL

currentexpectedcreditloss

CET1

commonequitytier1

CFP

contingencyfundingplan

CRE

commercialrealestate

C&I

commercialandindustrial

FASB

FinancialAccountingStandardsBoard

FBO

foreignbankingorganization

FDIC

FederalDepositInsuranceCorporation

FFIEC

FederalFinancialInstitutionsExaminationCouncil

Fintech

financialtechnology

GAAP

generallyacceptedaccountingprinciples

G-SIB

globalsystemicallyimportantbankingorganization

IHC

intermediateholdingcompany

IT

informationtechnology

LBO

largebankingorganization

LFBO

largeandforeignbankingorganization

LFI

largefinancialinstitutions

LISCC

LargeInstitutionSupervisionCoordinatingCommittee

viSupervisionandRegulationReport

MRA

MattersRequiringAttention

MRIA

MattersRequiringImmediateAttention

NBA

nonbankassets

RBO

regionalbankingorganization

RRE

residentialrealestate

SHC

securitiesholdingcompany

SLHC

savingsandloanholdingcompany

SLOOS

SeniorLoanOfficerOpinionSurvey

SMB(s)

statememberbank(s)

SR

SupervisionandRegulation

U.S.G-SIB

globalsystemicallyimportantbankingorganizationheadquarteredintheUnitedStates

wSTWF

weightedshort-termwholesalefunding

1

ExecutiveSummary

Thebankingsystemremainssoundandresilient.Mostbankscontinuetoreportcapitalandliquiditylevelsaboveapplicableregulatoryrequirements.Aggregatecommercialbankdepositlevelsstabilizedinthesecondhalfof2023andslightlyincreasedinearly2024.Assetqualityremainssoundoverall.However,delinquencyratesforsomecommercialrealestateloansandsomeconsumerloanshaveincreasedtoabovepre-pandemiclevels.Bankshaveboostedtheallowanceforcreditlossesinanticipationoffurtherdeteriorationinassetquality.

TheFederalReserveisfocusedonimprovingthespeed,force,andagilityofsupervision,asappro-priate.Thisincludesensuringsupervisoryactionsarecommensuratewithabankingorganization’ssize,risk,andcomplexity.TheFederalReservecontinuestocloselymonitorriskstothebanking

sector,includingcredit,interestrate,andliquidityrisks.

Thisreportfocusesondevelopmentsinthreeareas:

1.

BankingSystemConditions

providesanoverviewofthefinancialconditionofthebankingsector.

2.

RegulatoryDevelopments

outlinestheFederalReserve’srecentregulatorypolicywork.

3.

SupervisoryDevelopments

highlightstheFederalReserve’scurrentsupervisoryprogramsandpriorities.

3

Regulatorycapitalincreasedin2023.Inaggre-gate,banksadded$76billionincommonequitytier1(CET1)capitalbetweenyear-end2022andyear-end2023.Overthisperiod,theirCET1

capitalratioincreasednearly50basispoints

(figure1)

.

Analternativecapitalmeasure,thetangible

commonequity(TCE)ratio,alsoincreased.How-ever,itremainedbelowpre-pandemiclevels.TheTCEratioissimilartotheCET1capitalratioin

thatbothratiosexcludeintangibleitemssuchasgoodwill;however,theTCEratiodoesnot

accountfortheriskinessofassetsbutdoes

includechangesinthefairvalueofavailable-for-salesecuritiesforallbanks.2Substantial

declinesinthefairvalueofsecuritiescan

weakenabank’sabilitytomeetunexpected

liquidityneeds.Somebankscontinuetoreport

BankingSystemConditions

Thebankingsystemremainssoundandresilient.Mostbankscontinuetoreportcapitalandliquidity

levelsaboveapplicableregulatoryrequirements.Depositshaveincreasedoverallsincethelastreport.1Still,somebanksfacechallengesnavigatingchangesindepositorbehavior,higherfundingcosts,andreducedmarketvaluesforinvestmentsecurities.Assetqualitygenerallyremainssound.However,com-mercialrealestate(CRE)andconsumerloandelinquencieshavebeenincreasing.Earningshave

declinedasbankshaveincreasedloanlossprovisionsandincurredhigherfundingcosts.ThespecialassessmentbytheFederalDepositInsuranceCorporation(FDIC)alsocontributedtothedecline.

CapitalHasIncreased

Figure1.Aggregatecommonequitytier1(CET1)capitalratio

18

16

14

12

10

8

6

4

2

0

Percent

Q4

20192020202120222023

Note:CET1capitalratioistheratioofcommonequitytier1capitaltorisk-weightedassets.Seethe

appendixforfurtherinformation.Communitybanks

canoptintothecommunitybankleverageratioframe-work.Thirty-sevenpercentofcommunitybankshavedonesoandareexcludedfromthefigure.

Source:CallReportandFRY-9C.

largefairvaluelossesoninvestmentsecuritiesresultingfrompriorinterestrateincreases.

1SeeBoardofGovernorsoftheFederalReserveSystem,SupervisionandRegulationReport(Washington:BoardofGover-nors,November2023),

/publications/2023-november-supervision-and-regulation-

report.htm.

2Accountingstandardsdonotrequirebankstoreflectdeclinesinthefairvalueofheld-to-maturitysecuritieswithinequitycapital.However,forheld-to-maturitysecuritiesthatweretransferredfromtheavailable-for-salecategory,declinesinfairvaluethatexistedatthedateofthetransferarereportedwithinequitycapital.

4SupervisionandRegulationReport

Liquidassetsremainedabovetheir10-year

averagethroughout2023.3Asashareoftotalassets,liquidassetlevelswererelativelyflatbetweenyear-end2022andyear-end2023.Adeclineinthevalueofsecuritiesonbankbal-ancesheetswasmostlyoffsetbyanincreaseincashholdingsoverthisperiod(

figure2)

.

Securitybalancesdeclinedduetobothlowerfairvaluesandreducedholdingsbybanks.

Aggregatedepositswerelargelystableinthesecondhalfof2023andsteadilyincreasedinthefirstthreemonthsof2024.InJanuary

2024,depositsatcommercialbanksrose

above$17.5trillionforthefirsttimesincethebankingstressesofMarch2023(

figure3)

.

LiquidityConditionsareStable

Figure2.Liquidassetsasashareof

totalassets

30

25

20

15

10

5

0

Percent

20192020202120222023

SecuritiesCash

Q4

Note:Liquidassetsarecashplusestimatesofsecuritiesthatqualifyashigh-qualityliquidassetsasdefinedbytheBaselIIIliquiditycoverageratiorequirement.

Source:FRY-9C.

Figure3.Deposits

18.218.017.817.617.417.2

17.0

Trillionsofdollars

Mar.20

Jan.Feb.Mar.Apr.MayJuneJulyAug.Sept.Oct.Nov.Dec.Jan.Feb.Mar.20232024

Note:Dataareforallcommercialbanksandareseasonallyadjusted.

Source:H.8,“AssetsandLiabilitiesofCommercialBanksintheUnitedStates.”

3The10-yearaverageforliquidassetsasashareoftotalassetswas21.6percentatyear-end2023.Seesection4oftheMay2024FinancialStabilityReportforadditionaldiscussionofliquidityconditionsinthebankingsystem.BoardofGovernorsoftheFederalReserveSystem,FinancialStabilityReport(Washington:BoardofGovernors,May2024),

/publications/files/financial-stability-report-20240419.pdf.

BankingSystemConditions5

Atthesametime,banksincreasedtheirreli-anceonhighercostwholesalefunding

sources.Afterfallingtohistoriclowsinearly2022,wholesalefundingroseto21.6percentoftotalassetsatyear-end2023,moreinlinewithpre-pandemiclevels(

figure4

).Assched-uled,theBankTermFundingProgramceasedextendingnewloansonMarch11,2024,4

andthesizeoftheprogramhasbeguntodecline.5,6

Bankshaveimprovedtheiroperationalreadi-nesstoaccessthediscountwindow.Since

thebankingstressesofMarch2023,the

amountofcollateralpre-positionedatthedis-countwindowhasincreasedsignificantlyandisnownearly$3trillion.Over5,000banks

andcreditunionsaresigneduptousethe

Figure4.Wholesalefundingasashareoftotalassets

30

25

20

15

10

5

0

Percent

Q4

20192020202120222023

Note:Wholesalefundingisdefinedasthesumofbro-kereddepositsunder$250,000,federalfundspur-

chased,securitiessoldunderagreementtorepur-

chase,subordinatednotesanddebentures,andotherborrowedmoney.

Source:CallReportandFRY-9C.

discountwindow,ofwhichnearly3,000havecollateralpledged.7

LoanGrowthHasSlowedwithDelinquenciesIncreasinginSomeSectors

Loangrowthisstillpositivebuthasslowedfromarapidpacetheyearbefore.Bothweakerloandemandandtighterlendingstandardscontributedtotheslowdown.8Loangrowthinmostsectorswasmodestin2023.Amajorexceptionwasthecreditcardsector.9Creditcardbalances

4

5

6

7

8

9

SeeBoardofGovernorsoftheFederalReserveSystem,“FederalReserveBoardannouncestheBankTermFundingPro-gram(BTFP)willceasemakingnewloansasscheduledonMarch11,”(Washington:BoardofGovernors,January2024),

/newsevents/pressreleases/monetary20240124a.htm.

Seebox4.1oftheMay2024FinancialStabilityReportfordiscussionoftheBankTermFundingProgram,

https://

/publications/files/financial-stability-report-20240419.pdf.

“FederalReserveBalanceSheet:FactorsAffectingReserveBalances–H.4.1,”BoardofGovernorsoftheFederalReserveSystem,lastmodifiedMay2,2024,

/releases/h41/.

“DiscountWindowReadiness,”BoardofGovernorsoftheFederalReserveSystem,April12,2024,

https://

/monetarypolicy/discount-window-readiness.htm.

BoardofGovernorsoftheFederalReserveSystem,“TheJanuary2024SeniorLoanOfficerOpinionSurveyonBank

LendingPractices”(Washington:BoardofGovernors,2024),

/data/sloos/sloos-

202401.htm

.SeealsoBoard,“TheOctober2023SeniorLoanOfficerOpinionSurveyonBankLendingPractices,”

SLOOS,

/data/sloos/sloos-202310.htm

;“TheJuly2023SeniorLoanOfficerOpinionSurveyonBankLendingPractices,”SLOOS,

/data/sloos/sloos-202307.htm

;and“TheApril2023SeniorLoanOfficerOpinionSurveyonBankLendingPractices,”SLOOS,

/

data/sloos/sloos-202304.htm.

BoardofGovernorsoftheFederalReserveSystem,H.8,“AssetsandLiabilitiesofCommercialBanksintheUnitedStates,”

/releases/h8/current/default.htm.

6SupervisionandRegulationReport

increasedtoahistorichighattheend

of2023,despitetightenedlendingstandardsandfewercreditlineincreasesat

largebanks.10

Overallassetqualityremainsgenerallysound.Thetotalloandelinquencyratewasbelow

onepercentatyear-end2023,asthedelin-

quencyrateforcommercialandindustrial

(C&I)loanswasrelativelystableandthedelin-quencyrateforresidentialrealestate(RRE)

steadilydeclinedin2023.However,delin-

quencyratesarerisinginCREandsomecon-sumersectors.Thedelinquencyrateforcon-sumerloansroseaboveonepercentforthefirsttimesincethefirstquarterof2020,andthedelinquencyrateforCREloansincreasedto0.9percent,afive-yearhigh(

figure5)

.

TheriseinCREdelinquencieswaslargelyduetoloanssecuredbynonowner-occupiednon-farmnonresidentialpropertiesinbankswithatleast$100billionintotalassets.

Nonowner-occupiednonfarmnonresidential

propertiesincludehotels,offices,retail

stores,warehousefacilities,andothertypesofbusinesspropertyusedascollateral.Atthelargebanks,officeloansshowedthegreatestdelinquencyrateincreaseamongproperty

types,particularlyinmetropolitanareas

(figure6

).Reduceddemandforofficespaceandhigherinterestratesadverselyaffected

Figure5.Loandelinquencyrates

4

3

2

1

0

Percent

Total

RRE

CRE

Consumer

C&I

Q4

20192020202120222023

Note:Delinquentloansarethose90+dayspastdueorinnonaccrualstatus.

Source:CallReportandFRY-9C.

Figure6.Income-producingCREloan

delinquencyratesbypropertytype

10

9

8

7

6

5

4

3

2

1

0

Percent

Hotel

Industrial

Multifamily

Office

Retail

Q4

20192020202120222023

Note:Delinquentloansarethose30+dayspastdueorinnonaccrualstatus.

Source:FRY-14Q.

officeloanperformance.11Whilebankswithtotalassetsoflessthan$100billionhavelowerCREdelinquencyratesthanlargebanks,theyhaveagreaterpercentageoftheirtotalloansexposedtotheCREsector.

10FederalReserveBankofPhiladelphia,“Insights:LargeBankCreditCardandMortgageData,FRY-14MdatathroughQ32023,”

/-/media/frbp/assets/surveys-and-data/y14/2023/q3/23q3-y-14-

narrative.pdf?la=en&hash=BE1DC368D286470873D1CE42BEE67968.

11Seesection1oftheMay2024FinancialStabilityReportforadditionaldiscussioncommercialrealestateprices,

/publications/files/financial-stability-report-20240419.pdf.

BankingSystemConditions7

Thedelinquencyrateforconsumerloanswasdrivenhigherin2023bythecreditcardand

autoloansectors(

figure7

).Thecreditcard

loandelinquencyratereached1.7percentatyear-end2023,itshighestlevelinthelastfiveyears.Inaddition,theshareofborrowerscar-ryingforwardallorsomeportionoftheircreditcardbalancetothenextbillingcyclehas

increased.Thedelinquencyrateforautoloansincreasedin2023andnowexceedspre-

pandemiclevels.12Autoloansoriginatedpriortothepandemicbybankswithtotalassets

over$100billionhaveperformedworsethannewerloans,partiallyreflectingatighteningoflendingstandardsforthenewerloans.

Returnonaverageassetsandreturnonequitywereneartheir10-yearaveragesinthefirst

threequartersof2023.TheFDICspecial

assessmentandothernonrecurringexpensesinthefourthquarterledtoasharpdeclineinbothearningsmetrics(

figure8)

.13,14

ExcludingtheFDICspecialassessment,bothearningsmetricswouldstillhavedeclined,butbyasmalleramount.

Netinterestmarginmeasuresthedifferencebetweeninterestincomeandinterest

expense,relativetointerestearningassets.

Aggregatenetinterestmargindeclinedslightlyin2023asinterestexpenseincreasedfasterthaninterestincome.Interestexpenserose

Figure7.Consumerloandelinquencyrates

2.0

1.6

1.2

0.8

0.4

0.0

Percent

Q4

Creditcard

Auto

Other

20192020202120222023

Note:Delinquentloansarethose90+dayspastdueorinnonaccrualstatus.

Source:CallReportandFRY-9C.

EarningsHaveDeclined,inPartDuetoNonrecurringExpenses

Figure8.Bankreturnonaverageassets(ROAA)andreturnonequity(ROE)

20

16

12

8

4

0

Percent,annualratePercent,annualrate

Q4

ROE(leftaxis)

ROAA(rightaxis)

20192020202120222023

2.0

1.6

1.2

0.8

0.4

0.0

Note:ROEisnetincomedividedbyaverageequitycapital,andROAAisnetincomedividedbyaverageassets.

Source:CallReportandFRY-9C.

quicklyin2023asbankspaidmorefordepositsandusedmorewholesalefunding.

12Seesection2oftheMay2024FinancialStabilityReportforadditionaldiscussiononautoloandelinquencies,

https://

/publications/files/financial-stability-report-20240419.pdf.

13SeeFDIC,“SpecialAssessmentPursuanttoSystemicRiskDetermination,”(Washington,December2023),

https://

/deposit/insurance/assessments/specialassessment-psrd.html.

14Othernonrecurringexpensesincludedgoodwillimpairments,BloombergShort-termBankYieldIndexcessationcharges,ForeignExchangedevaluations,andseverancecosts.

8SupervisionandRegulationReport

Aggregateloanlossprovisionsalsoincreased

in2023(

figure9

).Largebankshave

increasedprovisionsamidcreditqualitycon-cernsintheCREandconsumerloansectors.Higherlossesfromthesaleofinvestment

securitiesalsocontributedtothedeclineinearnings.

MarketIndicatorsHave

Improved

Marketassessmentsofbankrisk,including

themarketleverageratioandcreditdefault

swap(CDS)spreads,provideaforward-lookingassessmentofthestrengthofthebanking

Figure9.Provisionsforloanandleaselossesasashareofaverageloansandleases

3

2

1

0

1

Percent,annualrate

Q4

–

20192020202120222023

Source:CallReportandFRY-9C.

system.Themarketleverageratiomeasuresabank’sfinancialpositionbasedontheratioofits

marketcapitalizationtothesumofmarketcapitalizationandthebookvalueofliabilities.Alowerstockpricereducesthemarketleverageratio,indicatinglowermarketconfidenceinabank’s

financialstrength.Conversely,higherstockpricesproduceahigherratio,reflectingahigherdegreeofconfidenceinabank’sfinancialstrength.Asacomplementtothemarketleverageratio,CDS

spreadstrackthepriceofinsuranceagainstadefaultbyagivenbank.Ifabank’sCDSspreadincreases,itmeansthemarkethaslowerconfidenceinthebank’screditworthiness.LowerCDSspreadsindicatehighermarketconfidenceinabank’screditworthiness.15

TheaveragemarketleverageratioandaverageCDSspreadforthelargestbanksmovedindirec-tionsconsistentwithanimprovementininvestorsentimentsincethelastreport(

figure10)

.

FirstQuarter2024EarningsatLargeFirms

Thissectionprovidesarecapoffirstquarter2024earningsresultsfor23largebankingfirms(“largebanks”).16Whilesuchmetricsareindicative,itshouldbenotedthatthesamplemaynotnecessarilyberepresentativeoftheentirebankingsector.

Inthefirstquarterof2024,largebanksreportedhealthyfinancialperformance.Aggregatelargebankprofitability,asmeasuredbyreturnonequity,was12percent,comparedto5percentinthe

15Seethe

appendix

foradditionalinformationonthemarketindicators.

16ThesampleincludesAllyFinancialInc.;AmericanExpressCompany;BankofAmericaCorporation;TheBankofNewYorkMellonCorporation;CapitalOneFinancialCorporation;TheCharlesSchwabCorporation;CitigroupInc.;CitizensFinan-

cialGroup,Inc.;DiscoverFinancialServices;FifthThirdBancorp;TheGoldmanSachsGroup,Inc.;Huntington

BancsharesIncorporated;JPMorganChase&Co.;KeyCorp;M&TBankCorporation;MorganStanley;NorthernTrustCor-poration;ThePNCFinancialServicesGroup,Inc.;RegionsFinancialCorporation;StateStreetCorporation;TruistFinan-cialCorporation;U.S.Bancorp;andWellsFargo&Company.Dataisunadjustedformergersandacquisitions.

BankingSystemConditions9

Figure10.Averagecreditdefaultswap(CDS)spreadandmarketleverageratio(daily)

120

108

96

84

72

60

48

36

24

12

0

BasispointsPercent

CDSspreads(leftaxis)

Marketleverageratio(rightaxis)

Apr.1

Jan.Feb.Mar.Apr.MayJuneJulyAug.Sept.Oct.Nov.Dec.Jan.Feb.Mar.Apr.20232024

10.0

9.7

9.4

9.1

8.8

8.5

8.2

7.9

7.6

7.3

7.0

Note:Themarketleverageratioistheratioofafirm’smarketcapitalizationtothesumofmarketcapitalizationandthebookvalueofliabilities.AveragesarecalculatedfromavailableobservationsfortheeightLISCCfirms(BankofAmericaCorporation;TheBankofNewYorkMellonCorporation;CitigroupInc.;TheGoldmanSachsGroup;JPMorganChase

&Co.;MorganStanley;StateStreetCorporation;andWellsFargo&Company).

Source:FederalReservestaffcalculationsusingBloombergdata.

fourthquarterof2023and13percentinthefirstquarterof2023.Inthefirstquarterof2024,largebanksreportedhigherquarter-over-quarterearningsduetohighercapitalmarketandinvest-mentmanagementfeerevenues,lowernonrecurringcosts,andsmallercreditlossprovisions,

whichwerepartiallyoffsetbylowernetinterestincome.

Atmostlargebanks,boththenonperformingloanrateandloanlossrateincreasedquarter-over-quarter.Creditlossallowancesasapercentageofloansremainedrelativelystablewithfourth

quarter2023levels.Largebankscontinuedtoindicatethatcreditlossallowanceswillbesuffi-

cienttocoverpotentialfutureloanlosses,includingloansintheofficecommercialrealestateandcreditcardcategories.

TheaggregateCET1capitalratioforlargebanksapproximated12percentonMarch31,2024,inlinewiththelevelonDecember31,2023.

11

RegulatoryDevelopments

TheFederalReservehastakenseveralpolicyactionssincethepublicationoftheNovember2023SupervisionandRegulationReport(see

table1

).AllSupervisionandRegulation(SR)andCon-

sumerAffairs(CA)lettersareavailableontheFederalReserveBoard’spublicwebsite.17

Table1.FederalReserveorinteragencyrulemakings/statements(proposedandfinal)

From11/01/2023to05/03/2024

Dateissued

Rule/guidance

2/6/2024

Federalbankregulatoryagenciesseekcommentoninteragencyefforttoreduceregulatoryburden.

Jointpressrelease:

/newsevents/pressreleases/bcreg20240206a.htm

5/3/2024

Agenciesissuethird-partyrisk-managementguideforcommunitybanks.

Jointpressrelease:

/newsevents/pressreleases/bcreg20240503b.htm

Third-PartyRiskManagement:AGuideforCommunityBanks

Tosupplementthebroaderthird-partyrisk-managementguidanceissuedinJune2023,theFederalReserveBoard,theFederalDepositInsuranceCorporation,andtheOfficeoftheComptrolleroftheCurrencyissuedathird-partyrisk-managementguideforcommunitybanksinMay2024.18The

guideisintendedtoassistcommunitybankswhendevelopingandimplementingtheirthird-partyrisk-managementpractices.Theguideisasupplementaryresourceconsistentwithothersimilartoolsthathavebeenprovidedtocommunitybanksfocusedonmanagingvariousaspectsoftheserelationships.19Theguideprovidespotentialconsiderations,resources,andexamplesthrough

eachstageofthethird-partyrisk-managementlifecycle.Theguidealsoreferencespotentialcon-siderationsandresourcesforrelatedgovernancepractices.

17TheFederalReservepublishesSRandCAletterstoaddresssignificantpolicyandproceduralmattersrelatedtotheFederalReserveSystem’ssafety-and-soundnessandconsumercompliancesupervisoryresponsibilities,respectively.SRlettersareavailableontheBoard’spublicwebsiteat

/supervisionreg/srletters/

srletters.htm,

andCAlettersareavailableontheBoard’spublicwebsiteat

/

supervisionreg/caletters/caletters.htm.

18SeeBoardofGovernorsoftheFederalReserveSystem,“Agenciesissuefinalguidanceonthird-partyriskmanagement,”

newsrelease,June6,2023,

/newsevents/pressreleases/bcreg20230606a.htm

and

“Agenciesissueguidetoassistcommunitybankstodevelopandimplementthird-partyrisk-managementpractices,”

newsrelease,May3,2024,

/newsevents/pressreleases/bcreg20240503b.htm.

19SeeBoardofGovernorsoftheFederalReserveSystem,ConductingDueDiligenceonFinancialTechnologyCompanies:AGuideforCommunityBanks(Washington:BoardofGovernors,October2023),

/

publications/files/conducting-due-diligence-on-financial-technology-firms-202108.pdf

andBoardofGovernorsoftheFed-eralReserveSystem,CommunityBa