In December 2012, the Federal Reserve published a new framework for consolidated supervision of large financial institutions, which are generally U.S. bank and savings and loan holding companies with assets of $50 billion or more and foreign banking organizations with assets of U.S. operations of $50 billion or more. The new framework is described in a Supervision and Regulation (SR) letter issued by Federal Reserve staff.1
In the SR letter, the Federal Reserve stated that its primary supervisory objectives for large financial institutions will now be (1) to enhance resiliency of an institution to lower the probability of its failure or its becoming unable to serve as a financial intermediary, and (2) to reduce the impact on the financial system and the broader economy of an institution’s failure or material weakness. The Federal Reserve had not previously stated primary supervisory objectives other than safety and soundness of supervised institutions.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
