WASHINGTON - The Federal Reserve Board is building a sophisticated computer system meant to help examiners keep a constant eye on the largest banking companies in the country.

The system, called Bond, for Banking Organization National Desktop, will be available April 3, and the Fed has scheduled enhancements through 2003. It grew out of the government's decision to focus supervision on a bank's riskiest businesses, which requires frequent, in some cases daily, review of data rather than the periodic snapshot that an annual exam provides.

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