The Federal Reserve Board on Monday announced that it will resume examination activities for all banks, after previously announcing a reduced focus on exam activity in light of the coronavirus response.
In March, the Board announced that it would focus on outreach and monitoring in light of the coronavirus response measures and temporarily reduce its exam activity, with the greatest reduction for smaller banks. Since that time, banks have had time to implement contingency operating plans and adapt their operations, so exam activity will resume.
The Board anticipates that exams will continue to be conducted offsite until conditions improve and will continue to work with banks to understand any specific issues they may be facing.
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