Seal of the Board of Governors of the Federal Reserve System
BOARD OF GOVERNORS
OF THE
FEDERAL RESERVE SYSTEM

WASHINGTON, D. C.  20551

DIVISION OF BANKING
SUPERVISION AND REGULATION


SR 93-36 (FIS)
June 18, 1993

TO THE OFFICER IN CHARGE OF SUPERVISION
          AT EACH FEDERAL RESERVE BANK


SUBJECT: Preliminary Examiner Guidelines for Regulation F -- Interbank Liabilities

                        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:

  • introduction,
  • examination objectives,
  • examination procedures, and
  • internal control questionnaire

                        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.


Stephen C. Schemering
Deputy Director


Attachment:  Preliminary Examiner Guidelines – Interbank Liability 1.6 MB PDF  |  62 KB TEXT )


SR letters | 1993