The FED on Friday published the latest version of its supervision & regulation report, which summarizes banking conditions & information about the Federal Reserve’s bank regulatory & supervisory activities.

The current edition includes detailed information on the strength of the banking system in light of the economic & financial stresses from the COVID-19 containment measures. Additionally, it describes current areas of supervisory focus from the Federal Reserve as well as how banks & bank supervisors have adapted to a largely remote working environment.

Also on Friday, the Federal Reserve announced that it is updating the list of firms supervised by its Large Institution Supervision Coordinating Committee (LISCC) Program, which was established in 2010 to supervise the largest & most complex firms. In connection with this update, the Federal Reserve has clarified that so-called “Category 1” firms will be supervised in the LISCC portfolio & that it will accept input on the update.

The definition will align the Board’s supervisory framework with the new regulatory framework that took effect earlier this year. As a result, certain foreign banks with U.S. operations that have substantially decreased in size & risk over the past decade will move to the Large & Foreign Banking Organization supervision portfolio, where they will be supervised with other banks of similar size & risk. The portfolio move will have no effect on the regulatory capital or liquidity requirements of any firm.

The Board will accept input until December 7, 2020.