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Tuesday, April 19, 2016

Federal Reserve: New Off-Site Loan Review Procedures for Small Banks

The Federal Reserve has implemented new procedures for examiners to conduct off-site loan reviews for community and small regional banks. The Board is offering this option as part of its ongoing efforts to improve efficiency and reduce regulatory burden while maintaining quality supervision.

State member banks and U.S. branches and agencies for foreign banking organizations with less than $50 billion in total assets can opt to allow Federal Reserve examiners to review loan files off-site, during both full-scope or target examinations, so long as loan documents can be sent securely and with the required information.

While some banks may prefer an off-site loan review, the program is optional so that any bank can still choose an on-site review.

Read more.

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