For those cases, the Federal Reserve has a robust appeals process, as well as an independent ombudsman, to provide institutions with a fair and thorough review of complaints.11 A banking organization’s board or management may appeal any material supervisory determination to a review panel composed of Reserve Bank staff that were not involved in the original supervisory determination and that were selected after consultation with staff at the Board in Washington.
Mrs. Sue Milton’s pivotal role in putting together this program at the invitation of Bank Of Uganda is especially acknowledged and appreciated. I am also very happy to welcome all the delegates to this workshop and in a special way I would like to recognize our colleagues from the Reserve Bank of Malawi.