CA 22-5

July 8, 2022

TO THE OFFICERS AND MANAGERS IN CHARGE OF CONSUMER AFFAIRS 

SECTIONS:

Applicability: This guidance applies to the supervision of community banking 

organizations, defined as institutions supervised by the Federal Reserve with total 

consolidated assets of $10 billion or less and their subsidiaries.

SUBJECT: Standard Information Request (SIR) Process 

The purpose of this letter is to reinforce the importance of effective communication 

practices during consumer compliance examinations of community banking 

organizations. As such, this letter introduces a Standard Information Request (SIR) 

Process to improve the consistency, efficiency, and effectiveness of consumer 

compliance examination planning and scoping processes. This letter complements and 

should be read in conjunction with the Federal Reserve’s risk-focused supervisory 

guidance outlined in CA 13-19, “Community Bank Risk-Focused Consumer Compliance 

Supervision Program.” 

For institutions covered under CA 13-19, Federal Reserve staff follow a risk-focused 

approach to consumer compliance examinations, which begins with updating the 

institutional profile and risk assessment, continues through the scoping process to the 

execution of the examination work program, and concludes with the issuance of the 

consumer compliance examination report.

1 As part of this process, Federal Reserve staff 

will leverage available information and, when necessary, obtain additional information 

through documentation requests and discussions with bank management. Effective 

communication with supervised institutions during this process is a priority, and Federal 

1 In coordination with bank management, and with consideration of various factors, Federal Reserve staff 

will determine which portions of the examination are most efficiently and effectively conducted on-site and 

off-site.
2

Reserve staff should implement the effective communication practices outlined in this 

letter.2

SIR Process

The SIR Process establishes a standard approach for gathering information from 

banks during the examination planning and scoping process and establishes general

timeframes within which Federal Reserve staff should routinely operate. The goals of the 

SIR Process are to: 

• appropriately tailor information requests to include only the information 

necessary to scope the examination and avoid asking for information that is 

available from other sources;3

• provide generally consistent information requests to support the Federal 

Reserve’s risk-focused supervision program; and 

• reduce the duration of examination planning and scoping processes and 

minimize disruption to bank operations. 

Federal Reserve staff will typically send an initial request for information no more 

than 15 weeks prior to commencement of examination activities.4

 Additional requests, if 

necessary, should be limited and requested as close as practicable to when the 

information will be used. Federal Reserve staff will provide bank management with 

adequate time to respond to all information requests and will coordinate examination 

planning activities with bank management by communicating relevant timelines and 

process steps. 

Information gathered from the SIR process will be used to develop or update the 

institutional profile and assess risk as necessary to appropriately scope the examination. 

During the scoping process, Federal Reserve staff will also schedule an opening 

examination discussion with bank management to gather additional institutional 

information to help support the exam scoping work. 

The SIR Process enhances communication and facilitates the efficient flow of 

information during the examination planning and scoping phase. Effective 

communications are similarly important throughout other phases of the examination 

process and are essential for an effective, efficient, and transparent supervisory program. 

As such, Federal Reserve staff should, in accordance with existing guidance, continue to 

discuss with bank management communication expectations to facilitate information 

exchange between bank and Federal Reserve staff. 

2 Depending on the circumstances, or as otherwise specified in this letter, communications may take the 

form of, but are not limited to, telephone conversations, in-person interviews and conversations, e-mails, 

questionnaires, letters, and examination reports.

3 “Available information” may include information in the public domain or that has already been provided 

to the Federal Reserve. 4 The Federal Reserve recognizes that in limited situations, Federal Reserve staff and bank management

may need additional time to prepare for an examination. Therefore, Federal Reserve staff, in collaboration 

with bank management, may extend this timeframe on a case-by-case basis depending on the facts and 

circumstances. Extensions may be particularly appropriate for banks with heightened risk or complexity or 

for new state member banks (e.g., de novo or charter conversion) for which Federal Reserve staff has less 

institutional knowledge. Conversely, shortened timelines may be appropriate for less-complex and lowerrisk banks, as long as bank management is provided a reasonable period of time to respond to all 

information requests.
3

Reserve Banks should distribute this letter to supervised community state member 

banks in their districts, as well as to appropriate supervisory and examination staff. 

Questions regarding this letter should be sent via the Board’s public website.5

Sincerely, 

Eric S. Belsky

Director

Division of Consumer 

and Community Affairs

Cross Reference:

• CA letter 13-19, “Community Bank Risk-Focused Consumer Compliance 

Supervision Program” (November 18, 2013)

5 See http://www.federalreserve.gov/apps/contactus/feedback.aspx.