Fed Board requests comment on FOIA and CSI updates

The Federal Reserve Board has requested public comment on technical, clarifying updates regarding its Freedom of Information Act (FOIA) procedures and changes to improve the efficiency of its rules governing the disclosure of confidential supervisory information (CSI). The proposal would update the Board's FOIA regulation to be consistent with the Board's current practices and to incorporate recent changes in law and guidance. The proposed changes to the CSI rules would ease certain outdated and inefficient restrictions. The proposal would, among other things, expand the ability of a supervised financial institution to share CSI with its affiliates, auditors, and outside legal counsel as well as other federal and state banking agencies.