To test my understanding of the specifics and to be sure our intentions were clearly communicated, as we were finalizing the guidance, I sat down with our supervision staff and went through each of the examples just as if we were in a loan closing conference.
Importantly, at the Federal Reserve we have complemented these issuances with training programs for examiners and outreach to the banking industry to underscore the importance of sound lending practices. In January, Federal Reserve staff instituted a Systemwide examiner training initiative that is reaching Federal Reserve and state examiners all across the United States, including approximately 100 examiners from Ohio.