What is considered confidential supervisory information?

Confidential supervisory information is defined by Fed regulation as including “reports of examination and inspection, confidential operating and condition reports, and any information derived from, relating to, or contained in them” and any “documents prepared by, on behalf of, or for the use of the Board [of …

Who has supervisory responsibility over regulatory reporting?

The Federal Reserve shares supervisory and regulatory responsibility for domestic banks with the OCC and the FDIC at the federal level, and with individual state banking departments at the state level.

What is the most powerful job of the Federal Reserve System?

The U.S. central banking system—the Federal Reserve, or the Fed—is the most powerful economic institution in the United States, perhaps the world. Its core responsibilities include setting interest rates, managing the money supply, and regulating financial markets.

Why is the authority that issued a bank’s charter important in the ongoing operations of the bank?

Why is the authority that issued a bank’s charter important in the ongoing operations of the bank? Reflects how well a foreign bank is able to provide appropriate guidance, oversight, and financial backing to its U.S. offices.

What does CSI mean in a bank?

September 22, 2020. One of the thornier areas of law for U.S.-regulated banks and their holding companies is that regarding confidential supervisory information (CSI).

What is the difference between a regulator and a supervisor?

Regulation is the highly choreographed process of generating public engagement in the creation of rules. Supervision is the mostly secret process of managing the public and private responsibilities over the risks that the financial system generates.

What do bank auditors look for?

The auditor examines financial transactions, bank wires, automated clearing house (ACH), and the bank account monetary flow to ensure accuracy, completeness, and timeliness of transaction recording. Financial and regulatory reports are examined to determine if they were filed as required.

Can a bank lose its charter?

The OCC may encourage or require a bank to terminate its charter if exiting the federal banking system is a viable way to address serious supervisory issues or if the bank encounters significant financial deterioration and is at risk of receivership.

What is CSI entrepreneurship?

Overview. The Business Management and Entrepreneurship curriculum provides students with the skills necessary to own and operate their own business or to assume entry-level management positions.

What is regulatory supervision?

Supervision and Regulation: An Introduction Bank regulation refers to the written rules that define acceptable behavior and conduct for financial institutions. The Board of Governors, along with other bank regulatory agencies, carries out this responsibility. Bank supervision refers to the enforcement of these rules.

What is a supervisory agency?

(7) “supervisory agency” means with respect to any particular financial institution, holding company, or any subsidiary of a financial institution or holding company, any of the following which has statutory authority to examine the financial condition, business operations, or records or transactions of that …

What are the first line roles in regulatory reporting?

The first line: Functions that own the risk. The second line: Risk and compliance teams. The third line: Functions that provide oversight, including internal and external audit. Out of these, the third line is probably the best understood and entrenched within an organization.

What does the CCAR disclosure mean for supervisory accountability?

In the SCAP, the disclosure of capital shortfalls clearly held supervisors accountable for producing sound stress test results and following through to ensure banks raised the necessary capital. The annual CCAR disclosure reinforces supervisory accountability for similar reasons.

How will the supervisory authority treat the confidential supervisory information?

(A) It will treat the confidential supervisory information in accordance with § 261.20 (a); and (B) It will not use the confidential supervisory information for any purpose other than as provided under its contract to provide services to the supervised financial institution .

Is the CCAR assessment based on FR Y-14 filings?

n/a Not applicable. The Federal Reserve’s CCAR assessment consists of a review of firms’ capital plan and the generation of supervisory stress test estimates, using internally developed supervisory models and assumptions with firms’ FR Y-14 filings and supporting information.” 38

What is the role of the EC in the CCAR?

The EC shall investigate and adjudicate complaints against members of the CCAR. To insure prompt and thorough responses to complaints, the EC may establish information gathering teams to conduct investigations.