More frequent bank examinations were promised.
The Federal Reserve Board said it will also make other changes to strengthen bank supervision. Affected will be 6,146 bank holding companies and 1,071 state-chartered banks that are regulated by the Fed. Under the new policy, the state-chartered banks will be examined every year instead of every 18 months. The 32 largest bank holding companies--those with more than $10 billion in assets--will be examined twice a year.
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