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FHFA Examinations of CSS Include Review of the Board of Managers but Supervision Has a Key Person Dependency and Outdated Guidance

Submitting OIG: 
Federal Housing Finance Agency OIG
Date Issued: 
Tuesday, March 21, 2023
Agency Reviewed / Investigated: 
Federal Housing Finance Agency
Submitting OIG-Specific Report Number: 
EVL-2023-002
Location(s): 
Agency-Wide
Type of Report: 
Inspection / Evaluation
Questioned Costs: 
$0
Funds for Better Use: 
$0
Number of Recommendations: 
2
View Document: 
AttachmentSize
PDF icon EVL-2023-002redacted.pdf204.99 KB
Additional Details Link: 
https://www.fhfaoig.gov/sites/default/files/EVL-2023-002_redacted.pdf

Related Open Recommendations

Recommendation Number Recommendation Status Significant Recommendation Additional Details
EVL-2023-002-1 Open No FHFA Examinations of CSS Include Review of the Board of Managers but Supervision Has a Key Person Dependency and Outdated Guidan
FHFA should designate an examiner who would be prepared to assume the responsibilities of the CSS EIC in the event of the short- or long-term loss of the CSS EIC’s services; and
EVL-2023-002-2 Open No FHFA Examinations of CSS Include Review of the Board of Managers but Supervision Has a Key Person Dependency and Outdated Guidan
In accordance with DER priorities and policies, FHFA should update and refine the 2016 CSS Module and other examination modules, as appropriate, in order to provide accurate examination guidance applicable to CSS examination activities.
Displaying 2 of 2 Recommendations