SR 23-3 / CA 23-4

On May 8, 2023, the Board of Governors of the Federal Reserve System, FED, published a Supervision and Regulation Letter (SR 23-3 / CA 23-4) to inform FED-supervised institutions that it is planning to adopt a new technical solution for the communication between institutions and the FED as regards supervisory events. The new solution, the so-called One Agile Supervision Solution (OASiS) application, is an external platform that will permit the secure communication between the parties, including the secure exchange of documents. The platform – which will be cloud-based and may be accessed via the U.S. government’s Login.gov website – is scheduled to be phased in over the next two to three years. Supervised institutions may access OASiS via a corresponding user account. OASiS will replace all current communication channels as regards supervisory event communication. Further information will be provided in due course.
In a first step, the FED has enclosed corresponding frequently asked questions (FAQs) to answer some initial questions institutions may have concerning the new platform. The questions thereby cover issues such as
– the registration process for an OASiS account;
– the purpose and content of the Login.gov website of the U.S. government;
– account verification by OASiS; or
– the steps that need to be taken to share information with the FED.