The Federal Reserve Board on Friday announced additional supervisory expectations for eight of the largest U.S. banks as part of their preparedness for future crises.

Bank of America, Bank of New York Mellon, Citigroup and JPMorgan Chase, among others, were given additional supervisory guidance as they conduct recovery and resolution planning that the Fed has required since the 2008 financial crisis. The central bank identified a range of capabilities large bank holding companies should have to beef up resilience and contingency planning when capital and liquidity buffers may be strained, the Fed explained in the guidance.

Those capabilities include having effective processes for managing, identifying and valuing the collateral that firms obtain and provide to external parties; analyzing funding sources, uses and risks of each material entity; and developing a comprehensive understanding of obligations and exposures tied to payment, clearing and settlement activities.

Yet Michael Gibson, director of the Fed's Division of Banking Supervision and Regulation, said in a letter to the institutions that the list of capabilities provided in the guidance "should not be viewed as exhaustive."

"The expectations will be incorporated into the Federal Reserve's ongoing supervisory assessments of recovery and resolution preparedness at large bank holding companies subject to the guidance," the Fed said in a press release.

The other firms are Goldman Sachs, Morgan Stanley, State Street and Wells Fargo.

Donna Borak is the Federal Reserve reporter for American Banker