Supervisory colleges enhance the information exchange and cooperation of home and host supervisors to help them develop a better understanding of the risk profile of a banking organization.
In this regard, the Federal Reserve relies upon communication with supervisors from foreign jurisdictions, including EU member states, in which banking organizations subject to Federal Reserve supervision have material operations. Critical information obtained in the course of an examination, which may impact a banking organization’s operations in the foreign jurisdiction, is typically exchanged among relevant supervisors.