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RBI and US banking regulators signs an information sharing agreement

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The RBI has signed an information sharing agreement with US banking regulators for better coordination with them in supervising financial institutions.

Earlier on December 9, 2014, RBI had concluded a Statement of Co-operation (SoC) on Supervisory Cooperation and Exchange of Supervisory Information with the Board of Governors of the Federal Reserve System (FRB), Office of the Comptroller of Currency (OCC) and Federal Deposit Insurance Corporation(FDIC).

The SoC was signed by Michael S Gibson, Director, FRB; Martin Pfinsgraff, Senior Deputy Comptroller, OCC; Doreen R Eberley, Director, FDIC and P R Ravi Mohan, Chief General Manager-in-Charge, Department of Banking Supervision, RBI.

So far, RBI has signed 22 such MoUs, one Letter for Supervisory Co-operation and one Statement of Co-operation, with overseas regulators/supervisors.