|For Immediate Release||January 21, 2022|
Federal Financial Institutions Examination Council Issues Statement of Principles on Examination Information Requests
The Federal Financial Institutions Examination Council on behalf of its members today issued a statement announcing best practices for requesting examination information from supervised entities, and a common authentication solution for secure access to the FFIEC membersí supervision systems.
The statement presents the results of the final phase of the Examination Modernization Project in which FFIEC members addressed the feedback provided by supervised entities regarding examination requests and authentication requirements for FFIEC membersí supervision systems.
The FFIEC was established in March 1979 to prescribe uniform principles, standards, and report forms and to promote uniformity in the supervision of financial institutions. It also conducts schools for examiners employed by the five federal member agencies represented on the FFIEC and makes those schools available to employees of state agencies that supervise financial institutions. The Council consists of the following six voting members: a member of the Board of Governors of the Federal Reserve System; the Chairman of the Federal Deposit Insurance Corporation; the Director of the Consumer Financial Protection Bureau; the Comptroller of the Currency; the Chairman of the National Credit Union Administration; and the Chairman of the State Liaison Committee.