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Board Report: 2014-FMIC-B-014 September 30, 2014

Opportunities Exist to Enhance the Onsite Reviews of the Reserve Banks’ Wholesale Financial Services

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Report Contributors

James Keegan, OIG Manager
Chie Hogenmiller, Project Lead
Jennifer Ksanznak, Auditor
Bettye Massenburg, Auditor
Cynthia Gray, Senior OIG Manager for Financial Management and Internal Controls
Melissa Heist, Associate Inspector General for Audits and Evaluations

Abbreviations

Board Board of Governors of the Federal Reserve System
COSO Committee of Sponsoring Organizations of the Treadway Commission
Dodd-Frank Act Dodd-Frank Wall Street Reform and Consumer Protection Act
Federal Reserve System Board of Governors of the Federal Reserve System and Federal Reserve Banks
FMI financial market infrastructure
FMU financial market utility
NSS National Settlement Service
PSR policy Federal Reserve Policy on Payment System Risk
RBOPS Division of Reserve Bank Operations and Payment Systems
Reserve Bank Federal Reserve Bank
WPO Wholesale Product Office