Financial Update (First Quarter 2010)

New Online Tool Assists Bank Directors

Bank directors have an important responsibility as the first line of defense in maintaining their institution's safety and soundness. The Federal Reserve has introduced the Bank Director's Desktop, an online tool to acquaint bankers with a better understanding of the issues and responsibilities that bank directors face every day.

graphic of Bank Director's Desktop tool

The Bank Director's Desktop includes three main components:

  • Training. This section discusses topics such as regulatory structure, regulatory compliance, bank safety and soundness, and supervisory actions to be taken when problems occur.
  • Basics. This portion of the Web site allows a free download or a free printed copy of Basics for Bank Directors, a book published by the Federal Reserve Bank of Kansas City that is a reference guide for bank directors. Now in its fifth edition, this publication details the processes and procedures for promoting stability, growth, and success of banks in today's uncertain economic environment.
  • Resources. Here, directors have access to a wide range of information, including discussion about banking regulation, detecting red flags in board reports, supervision manuals, legislative search engines, links to regulatory agencies, and a quick method to comment on proposed legislation affecting banking.

February 26, 2010