Report: Fed examiners were 'untimely' in closing supervisory findings
• A recent inspector general report revealed that Federal Reserve Board and reserve bank staffers were "untimely" in updating bank supervisory marks. • The report found that examiners often took several months to close supervisory findings even after the identified issues had been resolved. • This delay in reporting is significant as it affects the accuracy of bank supervisory marks and the perceived risk profile of financial institutions.
americanbanker.com