Recordkeeping Requirements of Regulation H and Regulation K Associated with the Procedures for Monitoring Bank Secrecy Act Compliance

Section 208.63 of the Board’s Regulation H – Membership of State Banking Institutions in the Federal Reserve System (12 CFR Part 208) requires state member banks to establish and maintain in writing procedures reasonably designed to ensure and monitor compliance with the provisions of the Bank Secrecy Act (BSA) and the implementing regulations. Sections 211.5(m)(1) and 211.24(j)(1) of the Board’s Regulation K – International Banking Operations (12 CFR Part 211) impose those same requirements on Edge and agreement corporations and, except for a federal branch or a federal agency or a state branch that is insured by the Federal Deposit Insurance Corporation, the U.S. branches, agencies, and representative offices of foreign banks supervised by the Board.

The latest form for Recordkeeping Requirements of Regulation H and Regulation K Associated with the Procedures for Monitoring Bank Secrecy Act Compliance expires 2022-05-31 and can be found here.

Establish compliance program

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