More frequent bank examinations were promised.
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The Federal Reserve Board said it will also make other changes to strengthen bank supervision. Affected will be 6,146 bank holding companies and 1,071 state-chartered banks that are regulated by the Fed. Under the new policy, the state-chartered banks will be examined every year instead of every 18 months. The 32 largest bank holding companies--those with more than $10 billion in assets--will be examined twice a year.
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