# SR 01-25 (GEN): Guidelines for Using External Experts on Examinations, Inspections, and Other Bank Supervision Matters

> Federal · Agency guidance · In force

URL: https://www.frixlaw.com/law-library/statutes/FRB_SR0125

## Section

- **Citation:** SR 01-25 (GEN)
- **Heading:** Guidelines for Using External Experts on Examinations, Inspections, and Other Bank Supervision Matters
- **Jurisdiction:** Federal
- **Kind:** Agency guidance
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Federal Reserve SR/CA Letters / Guidelines for Using External Experts on Examinations, Inspections, and Other Bank Supervision Matters

## Text

DOCUMENT 2
AGREEMENT FOR EXTERNAL CONSULTANTS
IN THE BANK SUPERVISION FUNCTION
General Provisions
1. I am being retained as a consultant under contract to the Federal Reserve Bank of ______________________
("Reserve Bank") and as such I am an independent contractor.
2. I understand that I may be asked to disclose to the Reserve Bank information about investments, debts and
employment relationships of me, my spouse, and dependent children that may have a bearing on my ability to
complete supervision assignments contemplated under the contract. I authorize the Reserve Bank to conduct
background and credit checks, as it deems appropriate.
3. During the period of time in which I serve as a consultant to the Reserve Bank, I will comply with similar
conflicts of interest restrictions that apply to a Reserve Bank employee while working on a supervision
assignment, unless I first obtain a waiver from such restrictions. For example, I may not seek or obtain credit
from a depository institution or an affiliate while I am assigned to a matter that specifically involves that
institution. Without specific authorization from the Reserve Bank’s Ethics Officer, I may not participate in a
matter specifically involving a depository institution or other company or any affiliate, if the institution,
company, or affiliate employs my spouse, child, parent, or sibling.
4. During the period of time in which I serve as a consultant, without specific authorization from the Reserve
Bank’s Ethics Officer, I am prohibited from making a debt or equity investment in any bank, thrift or other
depository institution or an affiliate. This restriction also applies to my spouse and dependent children.
5. I understand that during the period of my contract, I am prohibited from working for, consulting with, or
seeking employment from any depository institution or an affiliate, unless I obtain prior approval from the
Reserve Bank’s Ethics Officer.
6
ty investment in any bank, thrift or other
depository institution or an affiliate. This restriction also applies to my spouse and dependent children.
5. I understand that during the period of my contract, I am prohibited from working for, consulting with, or
seeking employment from any depository institution or an affiliate, unless I obtain prior approval from the
Reserve Bank’s Ethics Officer.
6. Under my contract with the Reserve Bank, I may prepare “works for hire,” including analyses, draft reports,
recommendations, and other documents. Every work for hire that I prepare during my contract with the
Reserve Bank, using information that I acquire while under contract with the Reserve Bank, is the property of
the Reserve Bank. I assign full and exclusive rights and ownership in such work and any other proprietary
rights that I possess or am entitled to in such work to the Reserve Bank. I retain no right, ownership, or title or
other proprietary rights in such work. I agree that I am relinquishing all rights in those works in their entirety to
the Reserve Bank for whatever use it desires.
Provisions Pertaining to Bank Examinations and Inspections
7. If I am being hired to participate as a consultant in an examination or inspection, I understand that I must be
approved to receive a temporary examiner credential by the Board of Governors of the Federal Reserve System
(Board), and that this approval is a condition of my contract. This temporary credential will provide the
appropriate authorization to permit me to participate as a Federal Reserve Examiner in the examination(s) or
inspection(s) of the institution(s) specified in the credential.
8. As a condition of being credentialed as a Federal Reserve Examiner, I warrant that I am either a U.S. citizen or
an immigrant alien lawfully admitted to the United States with a permanent resident visa (valid Green Card) and
who has signed a Declaration of Intent to Become a United States Citizen. If I am not currently a U.S
) or
inspection(s) of the institution(s) specified in the credential.
8. As a condition of being credentialed as a Federal Reserve Examiner, I warrant that I am either a U.S. citizen or
an immigrant alien lawfully admitted to the United States with a permanent resident visa (valid Green Card) and
who has signed a Declaration of Intent to Become a United States Citizen. If I am not currently a U.S. citizen,
this information has been fully disclosed to the Reserve Bank and I understand that my noncitizen status may
affect the Board’s ability to authorize my participation in an examination or inspection.
9. Should I be credentialed as a Federal Reserve Examiner, I understand that I am subject to certain restrictions
imposed by federal law. I understand that I could be subject to criminal liability for taking a loan or gratuity
from a financial institution that I examine (18 U.S.C. 213), for unlawfully taking or concealing any property of
value from any bank or banking institution that is a member of the Federal Reserve System (18 U.S.C. 655) or,
for disclosing the names of borrowers or the collateral of loans examined by me without authorization (18
U.S.C. 1906). I understand that I may not accept a loan, gift, including meals, or a gratuity from a bank that I
examine or examined, or its affiliate while holding a valid credential.
Failure to comply with any of the provisions of this Agreement will result in immediate termination of this
Agreement.
___________________________________
___________________________
SIGNATURE OF CONSULTANT
DATE
________________________________________
PRINTED NAME OF CONSULTANT

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/FRB_SR0125. Check the current official text before relying on it. Not legal advice.