In January, Federal Reserve staff instituted a System-wide examiner training initiative that will reach Federal Reserve and state examiners all across the United States. Additionally, an interagency training program has been developed specifically for examiners reviewing CRE loans as part of the interagency Shared National Credit Program, which includes the largest commercial real estate loans in the nation.
We are working hard to track the progress and effectiveness of this guidance. Before issuing the guidance, Federal Reserve staff surveyed examiners to gain a better understanding of the banks’ workout practices. Going forward, the information that we collected will serve as a baseline for assessing the impact of the supervisory guidance.