This legal document, issued by the Board of Governors of the Federal Reserve System, governs the establishment of Edge corporations, investments in agreement corporations, and member banks’ proposals to invest in Edge and agreement corporations. The document outlines the authority of the Board to approve these actions and provides guidelines for the organization and operation of Edge corporations. It also specifies the factors considered by the Board in acting on proposals, the ownership requirements, and the limitations on investments in Edge and agreement corporations.

This legal document, part of the Code of Federal Regulations, governs the corporate practices of bank holding companies and their subsidiary banks. It establishes that a bank holding company must serve as a source of financial and managerial strength to its subsidiary banks and conduct its operations in a safe and sound manner. The document also outlines the requirements for bank holding companies when purchasing or redeeming their own securities, including the need for prior written notice to the Board of Governors of the Federal Reserve System.

This subpart governs Bank Secrecy Act compliance for FDIC-supervised institutions. The purpose of this subpart is to ensure that these institutions establish and maintain procedures to monitor their compliance with the requirements of subchapter II of chapter 53 of title 31, United States Code, and the implementing regulations issued by the Department of Treasury at 31 CFR Chapter X. The compliance program should include internal controls, independent testing, designated individuals responsible for day-to-day compliance, and training for appropriate personnel.

This regulation, issued by the Federal Deposit Insurance Corporation (FDIC), imposes limits on extensions of credit to executive officers, directors, and principal shareholders of FDIC-supervised institutions. FDIC-supervised institutions are subject to the restrictions contained in Federal Reserve Board Regulation O to the same extent as member banks. The regulation prohibits FDIC-supervised institutions from extending credit or granting a line of credit to executive officers, directors, or principal shareholders, or their related interests, in an amount that exceeds the greater of $25,000 or five percent of the institution’s unimpaired capital and unimpaired surplus, unless approved by the board of directors and the interested party abstains from voting.

This document, issued by the Federal Deposit Insurance Corporation (FDIC), provides definitions and regulations regarding brokered deposits. It applies to insured depository institutions, deposit brokers, and depositors. The document defines brokered deposits as any deposits obtained through the mediation or assistance of a deposit broker. It categorizes insured depository institutions based on their capital levels and imposes restrictions on the acceptance, renewal, or rollover of brokered deposits for adequately capitalized and undercapitalized institutions.

A national bank may designate bonded agents to sell the bank’s money orders at nonbanking outlets. The responsibility of both the bank and its agent should be defined in a written agreement setting forth the duties of both parties and providing for remuneration of the agent. The bank’s agents need not report on sales and transmit funds from the nonbanking outlets more frequently than at the end of the third business day following receipt of the funds.

This document, part of the Code of Federal Regulations, governs the membership of national banks and Federal savings associations in payment systems. It outlines the definitions related to payment system membership, including the definition of a member and open-ended liability. The document also specifies the notice requirements for joining payment systems and the content of the notice. Safety and soundness procedures are outlined, including risk evaluation, ongoing risk management, and notification requirements for identified risks.

This legal document governs the exercise of visitorial powers with respect to national banks. Under 12 U.S.C. 484, only the OCC or an authorized representative of the OCC may exercise visitorial powers with respect to national banks. State officials are generally prohibited from exercising visitorial powers, such as conducting examinations or inspecting bank records, except in limited circumstances authorized by federal law. However, there are exceptions to this general rule, including actions brought by state attorney generals to enforce applicable laws against national banks.

This document governs the filing of reports by federally insured credit unions. It requires the president or managing official of each credit union to certify compliance with the requirements annually. The document also outlines the reporting requirements for catastrophic acts and cyber incidents. In the event of a catastrophic act, the credit union must notify the regional director within 5 business days and file a record of the incident. For reportable cyber incidents, the credit union must notify the appropriate NCUA-designated point of contact within 72 hours.

This document outlines the procedures for monitoring Bank Secrecy Act (BSA) compliance for federally insured credit unions. The purpose of this section is to ensure that credit unions establish and maintain procedures to comply with the Financial Recordkeeping and Reporting of Currency and Foreign Transactions Act and its implementing regulations. Each credit union is required to develop and administer a BSA compliance program, which must be written, approved by the board of directors, and reflected in the credit union’s minutes.