At the New York Fed, our mission is to make the U.S. economy stronger and the financial system more stable for all segments of society. We do this by executing monetary policy, providing financial services, supervising banks and conducting research and providing expertise on issues that impact the nation and communities we serve.
As part of our core mission, we supervise and regulate financial institutions in the Second District. Our primary objective is to maintain a safe and competitive U.S. and global banking system.
The Governance & Culture Reform hub is designed to foster discussion about corporate governance and the reform of culture and behavior in the financial services industry.
Need to file a report with the New York Fed? Here are all of the forms, instructions and other information related to regulatory and statistical reporting in one spot.
The New York Fed works to protect consumers as well as provides information and resources on how to avoid and report specific scams.
The Federal Reserve Bank of New York works to promote sound and well-functioning financial systems and markets through its provision of industry and payment services, advancement of infrastructure reform in key markets and training and educational support to international institutions.
The New York Fed provides a wide range of payment services for financial institutions and the U.S. government.
The New York Fed offers the Central Banking Seminar and several specialized courses for central bankers and financial supervisors.
The New York Fed has been working with tri-party repo market participants to make changes to improve the resiliency of the market to financial stress.
We are connecting emerging solutions with funding in three areas—health, household financial stability, and climate—to improve life for underserved communities. Learn more by reading our strategy.
The Economic Inequality & Equitable Growth hub is a collection of research, analysis and convenings to help better understand economic inequality.
The Governance & Culture Reform hub is designed to foster discussion about corporate governance and the reform of culture and behavior in the financial services industry.
September 17, 1996 |
|
Circular No. 10875 | |
To All State Member Banks in the Second Federal Reserve District: The following statement was issued by the Board of Governors of the Federal Reserve System: The Federal Reserve Board, along with the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation and the Office of Thrift Supervision, has issued final interagency guidelines prescribing safety and soundness standards for asset quality and earnings, thus completing the requirements of section 132 of the Federal Deposit Insurance Corporation Improvement Act of 1991.
The guidelines are effective October 1, 1996. The guidelines prescribe that insured depository institutions establish and maintain systems that are commensurate with the institution's size and the nature and scope of its operations to: The guidelines are general in nature and focus on what proper management should achieve, while leaving the methods for achieving those objectives to each institution. Since the guidelines are consistent with existing sound practices at banks, the Board believes that well managed banks will not need to alter their operations to comply with the guidelines. The final guidelines are substantially the same as those proposed in 1995. The text of the interagency notice and Board's standards for state member banks, as published in the Federal Register of August 27 is available. Questions on this matter may be directed to your portfolio manager in the Bank Supervision Group or to Maureen F. LeBlanc, Bank Supervision Officer. William J. McDonough |