The Federal Reserve views supervisory consistency as a means of enhancing supervision and reducing burden. This is particularly essential in the area of regulatory compliance, and specifically with regard to compliance with the Bank Secrecy Act and its regulations. The Federal Reserve includes a review of BSA compliance within every full-scope safety-andsoundness examination.
For larger banking organizations that are subject to continuous supervision, the Federal Reserve conducts a series of targeted BSA reviews over the course of the supervisory cycle. This, combined with off-site monitoring, allows the Federal Reserve to maintain a current understanding of BSA compliance within the organizations that are subject to its supervision.