TO THE OFFICER IN CHARGE OF SUPERVISION AT EACH FEDERAL RESERVE BANK
Enclosed is preliminary examiner guidance for the new
Regulation F -- Interbank Liabilities. Regulation F -- developed
in response to Section 308 of FDICIA -- requires banks to have in
place internal policies and procedures to evaluate and control
exposure to the depository institutions with which they do business
by June 19, 1993.
The guidance follows the format utilized by the Federal
Reserve and is divided into four sections:
This guidance has been developed in conjunction with the
staffs of the Reserve Banks of Chicago, Kansas City and New York
along with the Board's legal staff. In addition, both the OCC and
the FDIC provided inp[ut for the guidance. Further, the guidance
has been tested on several trial examinations. We hope to finalize
the guidelines in the fall after the guidance has been broadly
tested in the field.
With this in mind, any comments you have on ways to
improve the guidelines will be appreciated. Additional guidance to
address the payment systems issues associated with money center and
regional banks is being developed and will be included in the final
draft.
If you have any questions regarding this guidance, please
call Steve Lovette (202) 452-3622 or Derek Young (202) 452-2960.
Deputy Director
ENCLOSURE MAY BE OBTAINED FROM FEDERAL RESERVE BANK
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