The Federal Reserve has supervisory and regulatory authority over a wide range of financial institutions and activities. It works with other federal and state supervisory authorities to ensure the safety and soundness of financial institutions, stability in the financial markets and fair and equitable treatment of consumers in their financial transactions.

Banking Supervision News

Agencies Seek Comment on Proposed Interagency Appraisal and Evaluation Guidelines

On November 13, 2008, the federal bank regulatory agencies jointly issued for comment proposed Interagency Appraisal and Evaluation Guidelines that reaffirm supervisory expectations for sound real estate appraisal and evaluation practices. Comments are due on or before January 20, 2009. The proposed guidance would replace the 1994 Interagency Appraisal and Evaluation Guidelines to incorporate recent supervisory issuances and reflect changes in industry practice, uniform appraisal standards, and available technologies. (December 2, 2008)

Interagency Statement on Meeting the Needs of Creditworthy Borrowers

The Department of the Treasury, the Federal Deposit Insurance Corporation, and the Federal Reserve have recently put into place several programs designed to promote financial stability and to mitigate procyclical effects of the current market conditions. At this critical time, it is imperative that all banking organizations and their regulators work together to ensure that the needs of creditworthy borrowers are met. To support this objective, consistent with safety and soundness principles and existing supervisory standards, each individual banking organization needs to ensure the adequacy of its capital base, engage in appropriate loss mitigation strategies and foreclosure prevention, and reassess the incentive implications of its compensation policies. (December 2, 2008)

Agencies Issue Final Rule to Implement Unlawful Internet Gambling Enforcement Act (November 19, 2008)

Federal Reserve Announces It Will Alter the Formula Used to Determine the Interest Rate Paid to Depository Institutions on Excess Balances Effective November 6 (November 10, 2008)

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