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FRB - 2023-FMIC-B-011 - 1

Closed · 2023-07-17

From report

Report
The Board and FRB Boston Generally Followed Their Process for Purchasing MSLP Loan Participations but Can Formally Document Some Key Processes
OIG report number
2023-FMIC-B-011
Recommendation number
1

Recommendation text

We recommend that the Board’s Legal Division and FRB Boston’s Legal Department document a framework outlining the general process for identifying, determining, and pursuing action on ineligible loans as well as the key roles and responsibilities for addressing potentially ineligible MSLP loans.