TO THE OFFICER IN CHARGE OF SUPERVISION AT EACH FEDERAL RESERVE BANK
Although not mentioned in SR 93-4 (FIS), the policy that
examination reports issued by the Federal Reserve must be completed
and mailed within a maximum of 60 calendar days (commencing the day
following the examiner's exit meeting) also applies to all
international organizations. Specifically, this standard applies
to reports for all Edge Act and agreement corporations, U.S.
branches and agencies of foreign banks, foreign subsidiaries and
branches of U.S. banks, and foreign representative offices,
regardless of complexity. For institutions rated 3, 4, or 5,
Reserve Banks are also encouraged to adopt an internal target of 45
calendar days for processing and mailing reports. In cases where
reports are issued jointly with other agencies, this standard may
be extended at the discretion of senior management at the Reserve
Bank.
Should you have any questions regarding this policy,
please call Joe Sciortino (ext. 2294).
Associate Director
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