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Board Report: 2022-SR-B-017 December 7, 2022
As part of its oversight of financial institutions, the Board develops supervisory proposals, which include guidance addressing significant supervision matters as well as stress tests to evaluate the resilience of large banks. We assessed the effectiveness of the Board's processes and practices for reviewing and approving supervisory proposals.
We found several ways for the Board to enhance its review and approval of supervisory proposals. For example, it can improve how it informs and consults Board members and can clarify when and how it solicits public feedback on these proposals. It can also clarify how some of the Board's operations should be executed in the absence of a vice chair for supervision, including delegated actions related to stress testing proposals.
Our report contains recommendations.