Guide To Partial Authorization Mandate And Reports

The Federal Reserve Board's Partial Authorization Mandate and Report (PAMR) program allows depository institutions to request authorization from the Board to conduct certain activities that are not otherwise authorized by law. The PAMR program is designed to provide a mechanism for the Board to consider, on a case-by-case basis, requests for authorization to conduct activities that the Board believes are consistent with the safe and sound operation of depository institutions and the promotion of economic growth.
 
The PAMR program is intended to supplement, not replace, the existing supervisory and regulatory framework for depository institutions. The program is not a license to engage in unsafe or unsound practices, nor is it intended to reduce the supervisory and regulatory expectations of depository institutions. The PAMR program is also not a substitute for the Board's rulemaking authority.
 
The PAMR program does not authorize any activity that would be contrary to law, regulation, or Board policy. Requests for authorization under the PAMR program are reviewed on a case-by-case basis by the Board, in consultation with the relevant federal supervisory agencies.
 
The PAMR program is one part of the Board's efforts to facilitate depository institutions' ability to innovate and meet the evolving needs of their customers in a safe and sound manner. The Board believes that the PAMR program can provide a mechanism for the Board to consider, on a case-by-case basis, requests for authorization to conduct activities that the Board believes are consistent with the safe and sound operation of depository institutions and the promotion of economic growth.
 
The PAMR program is not intended to be used as a means to circumvent existing law, regulation, or Board policy. Requests for authorization under the PAMR program will be reviewed on a case-by-case basis by the Board, in consultation with the relevant federal supervisory agencies.