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The Federal Reserve System has established a risk framework and several programs in order to ensure effective banking risk management.

Types of Banking Risk

The Federal Reserve System has established a banking risk framework that consists of six risk factors: credit, market, operational, liquidity, legal and reputational risks. During examinations, institutions' risk management structures are reviewed using these risk categories.

Risk Committee Findings

The Federal Reserve Bank of Chicago (Seventh District) Supervision group follows current and emerging risk trends on an on-going basis. This Risk Perspectives newsletter is designed to highlight a few current risk topics and some potential risk topics on the horizon for the Seventh District and its supervised financial institutions. The newsletter is not intended as an exhaustive list of the current or potential risk topics and should not be relied upon as such. We encourage each of our supervised financial institutions to remain informed about current and potential risks to its institution.

 

Risk Perspectives

Quarter 4, 2011

 

Past Issues

Financial Institution Risk Management Programs

The Fed has also identified four key infrastructure components of effective risk management programs:
  • active board and senior management oversight
  • adequate policies, procedures and limits
  • adequate risk-measurement, monitoring and management information systems
  • comprehensive internal controls

Each type of risk, in turn, has its own specific types of risk controls.

 

For more information see the Board of Governors Supervision and Regulation Letters webpage.

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