FDIC Agrees to Changes to Bank Supervision After First Republic

The Federal Deposit Insurance Corp. will make changes to its bank-supervision program after a review of its oversight of First Republic Bank was released by its internal watchdog.

The FDIC’s inspector general said the agency has agreed to 11 recommendations to make its supervision more forward-looking and to prevent losses to the US’s bedrock deposit insurance fund, which the regulator oversees. The regulator said that by July 31 it will complete corrective actions recommended in the review conducted by Cotton & Company Assurance and Advisory, the IG said.

The review follows significant losses to the deposit insurance fund following the ...