{"id":"AGY-FED-FINANCIAL-011","kind":"context","level":"federal","jurisdiction":"United States; Board of Governors of the Federal Reserve System (federal)","state":"","metro":"","industry":"","agency":"FED-FINANCIAL","eco":"","issuer":"Board of Governors of the Federal Reserve System","authority":"12 U.S.C. § 325; § 1820(d)","instrument":"Board statement of March 24, 2020 on supervisory approach (with SR 20-6 examination adjustments)","title":"Federal Reserve provides additional information to financial institutions on how its supervisory approach is adjusting in light of the coronavirus","dateIssued":"2020-03-24","effective":"2020-03-24","end":"2020-06-15 (examination activities resumed, Ex. 021)","startDate":"2020-03-24","endDate":"2020-06-15","quarters":["2020Q2"],"types":["OTHER","TELE"],"addressees":["Federal Reserve-supervised institutions"],"clause":"To minimize disruption and to focus on outreach and monitoring, the Federal Reserve will temporarily reduce its examination activities, with the greatest reduction in activities occurring at the smallest banks.... The Federal Reserve will focus on monitoring and outreach to help financial institutions of all sizes understand the challenges and risks of the current environment.","enforcement":"Supervisory program","functions":["OP examinations conducted off-site or deferred","HR examination staffing"],"notes":"The Board\u0027s suspension of on-site examination work; the counterpart of the closure of bank premises to visitors","sourceUrl":"https://www.federalreserve.gov/newsevents/pressreleases/bcreg20200324a.htm","snapshot":"","fileExists":true,"fileBytes":136960,"grade":"primary","character":"context","description":"","collection":"AGY-FED-FINANCIAL","url":"/library/AGY-FED-FINANCIAL-011","exhibitUrl":"/exhibit/AGY-FED-FINANCIAL-011","citation":"Board of Governors of the Federal Reserve System, Board statement of March 24, 2020 on supervisory approach (with SR 20-6 examination adjustments) (Mar. 24, 2020) (Ex. AGY-FED-FINANCIAL-011)","stateName":"","related":["AGY-FED-FINANCIAL-010","AGY-FED-FINANCIAL-012","AGY-FED-FINANCIAL-028","AGY-FED-FINANCIAL-018","AGY-FED-FINANCIAL-021"]}