The Board of Governors of the Federal Reserve System has approved extending the Supervisory and Regulatory Survey (FR 3052) for three more years without any changes. This survey collects information from financial institutions to help the Federal Reserve with its responsibilities, and participation is voluntary. The Board received one comment on the extension, which supported it and suggested adopting an international auditing standard and forming a group for future surveys. They have acknowledged this feedback and will consider it for future surveys.
Simple Explanation
The people in charge of the money system in the U.S. decided to keep asking banks some questions every few years to help them do their job better. They got one suggestion to add more things to these questions in the future and said they will think about it later.