FFIEC issues new policy statement on examination reports

Agency Rule-Making & Guidance FFIEC Supervision Examination

On March 6, the Federal Financial Institutions Examinations Council (FFIEC) announced it adopted a Policy Statement on the Report of Examination, which documents the findings and conclusions of an examination conducted by a FFIEC member agency. The Policy Statement is a principles-based approach for completing the report of examination (ROE) in order to promote consistency among the FFIEC members while allowing flexibility for individual supervisors to document exam assessments of financial institutions of different sizes, risk profiles, and other conditions. The policy provides a short outline that instructs all ROEs to, among other things: (i) include identifying information; (ii) convey that the ROEs contain confidential supervisory information; (iii) present conclusions and issues in order of importance; and (iv) document the institution’s risk profile and discuss the institution’s risk management practices. The new policy statement rescinds an interagency policy statement from 1993.