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The Federal Reserve is a government agency so practical options to manage third-party risks related to them are incredibly limited. Additionally, there is no contractual relationship with the Fed. For those reasons, we consider them to be exempt from TPRM monitoring. We do, however, perform an annual risk assessment on them.
Original Message:
Sent: 06-25-2025 12:11 PM
From: Brandon Carey
Subject: Monitoring the Federal Reserve
Hi everyone,
I'm curious to know if other financial institutions are actively monitoring the Federal Reserve. Our credit union has done so since the inception of our TPVM program, but I've been finding it increasingly difficult to access the information we need.
This has led me to question whether this level of monitoring is still necessary, especially considering that we wouldn't be able to operate without the Fed regardless.
I'd really appreciate hearing how others are approaching this. Is this something your institution prioritizes? Any insights or experiences would be greatly appreciated.
Thank you