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ABA: The American Bankers Association
Compliance News

FFIEC Issues Policy Statement on Examination Reports

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As part of its ongoing exam modernization initiative, the Federal Financial Institutions Examination Council (FFIEC) issued a policy statement aimed at promoting clarity and consistency of examination reports. The policy statement—which is intended to reduce regulatory burden for community banks—includes principles that "set forth minimum expectations of what should be included in all reports of examination." The principles establish that all report of examinations should present conclusions and issues in order of importance; document the condition and risk profile of the institution; discuss the adequacy of the institution’s risk management practices; and document issues of supervisory concern or warranting prompt corrective action.