WASHINGTON, D.C. – The Federal Reserve said it will suspend some of its bank supervisory activities to give banks more leeway in dealing with financially strapped customers.
The Fed said it will cease nearly all examinations for banks with less than $100 billion in total assets, except for those reviews “critical to safety and soundness or consumer protection." For larger banks above that threshold, the Fed will postpone most of its examinations, based on how burdensome the scrutiny would be for each bank.
Tuesday's announcement follows earlier efforts by the Fed and other banking regulators to lighten regulatory oversight during the viral outbreak.