Supervision & Credit | Strategic Focus

The Risk and Policy Analysis Unit The Risk and Policy Analysis Unit

The Risk and Policy Analysis Unit (RPA) is an interdisciplinary group of professionals (e.g., analysts, market specialists, PhD economists, research assistants, and accountants) that conduct research and analysis aimed at supporting the bank supervision and regulation and financial stability-related efforts of the Federal Reserve System (FRS).

Bank Supervision and Regulation

Members of RPA play a key role in the development and implementation of various supervisory programs promulgated by the FRS. These programs include: the Comprehensive Capital Analysis and Review and the Dodd-Frank Act Stress Testing, the FRS's annual stress testing exercises. RPA staff also participates in the ongoing supervision and targeted examinations of large and complex bank holding companies.

Research and Analysis

RPA economists produce research papers and analysis on financial markets and the banking industry for publication in academic journals. This endeavor generally entails, but is not limited to, analyzing trends in the banking industry and broader credit markets, studying the impact of micro and macro prudential policy on financial markets, and researching the link between financial sector conditions and the macroeconomy. Some of this research can be found here: RPA Working Papers Series.

RPA also makes meaningful contributions to the FRS's efforts to identify and monitor potential systemic risks, including those that may emanate from the short-term wholesale funding markets, asset management products and activities, and the insurance industry. RPA periodically advises senior Bank management on related matters.