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Board Report: 2017-SR-B-005 March 29, 2017
Federal Reserve supervision teams use continuous monitoring to stay abreast of developments and emerging risks at large firms. We evaluated the effectiveness of this supervisory tool.
Although the Board and the Reserve Banks have multiple documents that address the expectations for certain aspects of continuous monitoring, the Board has not issued guidance that harmonizes these expectations across its supervisory portfolios and the Reserve Banks. Enhanced supervisory guidance could help to foster more consistent execution of this supervisory activity throughout the Federal Reserve System and maximize its effectiveness.
Our report includes recommendations to improve the effectiveness of continuous monitoring.