The Federal Deposit Insurance Corporation (FDIC) today issued a Request for Information (RFI) seeking feedback and comments from FDIC-supervised financial institutions regarding the FDIC’s supervisory approach to examinations during the pandemic, including the impact of off-site activities on institution operations, the effectiveness of technology used to carry out off-site activities, and the effectiveness of communication methods used to support off-site activities.
For a number of years prior to the Coronavirus Disease 2019 (COVID-19) pandemic, the FDIC had been leveraging advances in technology to allow examiners to conduct certain examination activities off-site that were previously performed on-site.
Throughout the COVID-19 pandemic, examiners have continued the FDIC examination program despite pandemic conditions, in part by leveraging prior efforts and existing technology systems.
The FDIC requests comment on the processes and technologies leveraged in conducting off-site examinations. Specifically, the FDIC is seeking comment on what worked well in the off-site examination context to inform plans for future examinations, consistent with applicable law and the purpose of examinations.
The RFI is attached and will be published in the Federal Register. The FDIC encourages comments from all interested parties by October 12, 2021.
Request for Information on the FDIC’s Supervisory Approach to Examinations