FRB Releases Additional Information Regarding the LISCC Supervisory Program

The Board of Governors of the Federal Reserve System ("FRB") released a memorandum that provides additional information on the operating structure of the Large Institution Supervision Coordinating Committee ("LISCC") supervisory program.

The memorandum supplements previously released information regarding the LISCC and provides additional details on the program's organizational structure, including the functions of its subcommittees.

The LISCC program was established in 2010 to oversee and supervise the largest and most systemically important financial institutions. According to the FRB, the program, which is comprised of senior officers at the Board and Reserve Banks, uses a centralized process that incorporates a broad range of internal FRB "perspectives and expertise and facilitates consistent supervision among the firms," as well as evaluates the safety and soundness of individual large financial institutions and the risks posed by those institutions to the broader financial system.