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Federal Deposit
Insurance Corporation

Each depositor insured to at least $250,000 per insured bank

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FDIC's Subcommittee on Supervision Modernization for the Advisory Committee on Community Banking Holds its Inaugural Meeting

FOR IMMEDIATE RELEASE
March 6, 2019
Media contact:
David Barr
(202) 898-6992
dbarr@fdic.gov

The inaugural meeting of the Federal Deposit Insurance Corporation's (FDIC) Subcommittee on Supervision Modernization took place in Washington, D.C. yesterday and today.

The subcommittee was established to support the FDIC's Advisory Committee on Community Banking by considering how the FDIC can leverage technology and refine processes to make the examination program more efficient, while managing and training a geographically dispersed workforce.

"I am grateful to the subcommittee members for taking the time from their extremely busy schedules to play a vital role in the continued evolution of the FDIC, by informing the agency's efforts in modernizing our supervisory examination process," said FDIC Chairman Jelena McWilliams. "Their diverse backgrounds will help the FDIC identify new ways to improve the examination program and promote transparency, accountability, and efficiency in our operations."

The initial two-day meeting will consist of an overview of the FDIC and its structure, a discussion of the current bank examination program, and a review of existing technology and data sources relied on to conduct examinations.

Subcommittee members are:

The subcommittee will meet in person at least three times in 2019, with possible conference calls or smaller group briefings scheduled to supplement in-person discussions.

Attachment:

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Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's banks and savings associations, 5,406 as December 31, 2018. It promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The FDIC receives no federal tax dollars—insured financial institutions fund its operations.

FDIC press releases and other information are available on the Internet at www.fdic.gov, by subscription electronically (go to www.fdic.gov/about/subscriptions/index.html) and may also be obtained through the FDIC's Public Information Center (877-275-3342 or 703-562-2200). PR-16-2019

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