The Board of Governors of the Federal Reserve System announced that 'reputational risk' will no longer be included in its regulatory examination procedures for banks. It has begun removing related language from regulatory materials, replacing it with more specific financial risk content as appropriate. The Federal Reserve emphasized that this move does not affect its requirements for banks to maintain sound risk management and compliant operations, nor does it interfere with whether banks continue to use the concept of 'reputational risk' in their own management.