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Fed wants to reassess bank board responsibilities, institutional ratings

Joe Mont | August 4, 2017

The Board of Governors of the is seeking public comments on a corporate governance proposal intended “to enhance the effectiveness of boards of directors.”

The Fed is inviting comment on a proposal addressing supervisory expectations for the boards of directors of bank holding companies, savings and loan holding companies, state member banks, U.S. branches and agencies of foreign banking organizations, and systemically important nonbank financial companies designated by the Financial Stability Oversight Council for supervision by the Federal Reserve.

For the largest domestic bank and savings and loan holding companies and systemically important nonbank financial companies, the proposal would establish principles regarding effective boards of directors focused on the performance of a board’s core responsibilities. The proposal would also better distinguish between the roles...

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