FEDERAL RESERVE BOARD PUBLISHES FIRST OF SEVERAL STAFF MANUALS FOR THE SUPERVISION OF THE LARGEST AND MOST COMPLEX BANKS

The following information was released by the Federal Reserve Board:

The Federal Reserve Board on Thursday published the first of several staff manuals for the supervision of the largest and most complex banks. This will provide more transparency to the public about the supervision of these banks. The Board expects to release several other staff manuals for these banks early next year.

"For many years, I have sought the public release of the Fed's large bank supervision manuals. Today, I am pleased to announce their release. This is another step in our efforts to improve transparency and public accountability for bank supervision," said Vice Chair for Supervision Michelle W. Bowman. "By enhancing our supervisory transparency, we are holding ourselves to high standards and ensuring that we execute our responsibilities appropriately and fairly."

The staff manual published today has not yet been amended to reflect the recent name change of the Board's program for the largest and most complex banks from LISCC to GSIB. Nor has it been amended to reflect the statement of supervisory operating principles that was released by the Board in November. An updated version of the manual will be released when those amendments have been made.

The other documents that the Board expects to release early next year include the manuals for the large bank operating committee, capital and liquidity planning, recovery and resolution planning, the large bank rating program, enforcement actions, and the large bank risk identification system. These manuals are currently used by supervisory staff but have been modified to redact any confidential supervisory information. LISCC refers to the Large Institution Supervision Coordinating Committee and GSIB refers to the U.S. global systemically important banking organizations.

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