SR 15-12:

Spanish Translation of the 2014 Federal Financial Institutions Examination Council’s Bank Secrecy Act/Anti-Money Laundering Examination Manual

BOARD OF GOVERNORS
OF THE FEDERAL RESERVE SYSTEM
WASHINGTON, D.C. 20551

DIVISION OF BANKING
SUPERVISION AND REGULATION

SR 15-12
October 15, 2015

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

SUBJECT:

Spanish Translation of the 2014 Federal Financial Institutions Examination Council’s Bank Secrecy Act/Anti-Money Laundering Examination Manual

Applicability: This letter applies to all financial institutions supervised by the Federal Reserve, including those with $10 billion or less in consolidated assets that are subject to the Bank Secrecy Act.1 

The Federal Reserve, together with the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Office of the Comptroller of the Currency (collectively, the agencies), issued a Spanish language translation of the Federal Financial Institutions Examination Council's (FFIEC) Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Examination Manual (manual) on October 1, 2015.  The Spanish version is based on the most recent version of the manual issued by the FFIEC in December 2014.2 

The agencies have developed the Spanish language version of the manual largely in response to requests from industry and trade groups.  Releasing a Spanish language version of the manual furthers the agencies' goal of making their regulatory expectations regarding BSA/AML compliance programs as accessible and useful as possible.  In the event of a conflict between the English and Spanish translations of the manual, the English translation will prevail.

Reserve Banks are asked to distribute this letter, as appropriate, to state member banks, bank holding companies, Edge and Agreement Act corporations, and U.S. branches, agencies, and representative offices of foreign banking organizations, as well as to their supervisory and examination staff.  Questions regarding this letter may be directed to Jennifer White, Supervisory Financial Analyst, at (202) 452-3964, or Koko Ives, Manager, BSA/AML Compliance Section, at (202) 973-6163.  In addition, questions may be sent via the Federal Reserve's public website.3 

signed by
Michael S. Gibson
Director
Division of Banking
Supervision and Regulation

Supersedes:
  • SR Letter 11-5, “Spanish Translation of the FFIEC BSA/AML Examination Manual
Cross References:
  • SR Letter 14-10, “Release of the 2014 Federal Financial Institutions Examination Council’s Bank Secrecy Act/Anti-Money Laundering Examination Manual
Notes:

1.  Federal Reserve supervised institutions that are subject to the BSA include: state member banks (Regulation H, 12 CFR 208), bank holding companies (Regulation Y, 12 CFR 225), Edge and agreement corporations, and foreign banking organizations operating in the United States (Regulation K, 12 CFR 211).  Return to text

2.  Refer to SR letter 14-10, "Release of the 2014 Federal Financial Institutions Examination Council's Bank Secrecy Act/Anti-Money Laundering Examination Manual."  The English version of the manual is available on the FFIEC website at: www.ffiec.gov/bsa_aml_infobase/default.htmReturn to text

3.  See http://www.federalreserve.gov/apps/contactus/feedback.aspxReturn to text

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Last Update: November 09, 2015