FED – Agencies propose regulation on the role of supervisory guidance


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October 29, 2020

Agencies propose regulation on the role of supervisory guidance

  • Board of Governors of the Federal Reserve System
  • Consumer Financial Protection Bureau
  • Federal Deposit Insurance Corporation
  • National Credit Union Administration
  • Office of the Comptroller of the Currency

For release at 11:00 a.m. EDT

Five federal financial regulatory agencies today invited comment on a proposal outlining & confirming the agencies’ use of supervisory guidance for regulated institutions. The proposal would codify the statement, as amended, that was issued in September 2018 by the agencies that clarified the differences between regulations & guidance.

Unlike a law or regulation, supervisory guidance does not have the force & effect of law & the agencies do not take enforcement actions or issue supervisory criticisms based on non-compliance with supervisory guidance. Rather, supervisory guidance outlines supervisory expectations & priorities, or articulates views regarding appropriate practices for a given subject area.

In contrast to supervisory guidance, regulations do have the force & effect of law & enforcement actions can be taken if regulated institutions are in violation. Regulations are also generally required to go through the notice & comment process.

Comments will be accepted for 60 days following publication in the Federal Register.

Last Update:

October 29, 2020

Source: Federal Reserves

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