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Bank Secrecy Act
Anti-Money Laundering
Examination Manual

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APPENDIX B: BSA/AML DIRECTIVES

Board of Governors of the Federal Reserve Systemn

Supervision and Regulation Letters, commonly known as SR Letters, address significant policy and procedural matters related to the Federal Reserve System’s supervisory responsibilities. Issued by the Board of Governors’ Division of Banking Supervision and Regulation, SR Letters are an important means of disseminating information to banking supervision staff at the Board of Governors and the Reserve Banks and, in some instances, to supervised banking organizations. The applicable BSA/AML SR Letters are available at the following Web site: www.federalreserve.gov/boarddocs/srletters.

Federal Deposit Insurance Corporation

Financial Institution Letters (FIL) are addressed to the chief executive officers of the financial institutions on the FILs distribution list — generally, FDIC-supervised banks. FILs may announce new regulations and policies, new FDIC publications, and a variety of other matters of principal interest to those responsible for operating a bank or savings association. The applicable FILs are available at the following Web site: www.fdic.gov/news/news/financial/index.html.

National Credit Union Administration

National Credit Union Administration (NCUA) publishes Letters to Credit Unions (LCU) and Regulatory Alerts (RA) addressed to credit union boards of directors. LCUs and RAs are used to share information, announce new policies, and provide guidance for credit unions and credit union examination staff. The NCUA’s Examiner’s Guide provides overall guidance for the risk-focused examination and supervision of federally insured credit unions. NCUA’s risk-focused program evaluates the degree to which credit union management identifies, measures, monitors, and controls (i.e., manages) existing and potential risks in their operations, including risk associated with AML programs. Applicable sections of the Examiner’s Guide are available on the following Web site: www.ncua.gov.

Office of the Comptroller of the Currency

OCC Alerts are issuances published with special urgency to notify bankers and examiners of matters of pressing concern, often suspicious or illegal banking practices.  OCC Bulletins and Advisory Letters contain information of continuing importance to bankers and examiners.  Bulletins and Advisory Letters remain in effect until revised or rescinded.  Specific BSA/AML OCC Alerts, Bulletins, and Advisory Letters are available at the following Web site: www.occ.treas.gov.

Office of Thrift Supervision

The Office of Thrift Supervision issues Regulatory Bulletins and CEO Letters to clarify regulations and to specify guidelines and procedures. These directives are an important means to keep examiners as well as savings associations continuously updated on BSA/AML issues. Specific BSA/AML Regulatory Bulletins and CEO Letters are available at the following Web site: www.ots.treas.gov.

 

 

 

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