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Product Updates February 2019

Product Updates for February 2019

The Product Updates for February 2019 from BankPolicies.com feature the following new and revised policy template products:

Fraud Policy Template – NEW!

This new product was developed in response to client requests who submitted their suggestions to our “Client Wish List.”  In general, the purpose of this product is to ensure that a financial institution implements and maintains an effective Fraud Risk Management Program that is an essential part to the safe and sound operations of the organization.  Your comments and ideas are always greatly appreciated and will be taken into consideration whenever we revise our current products or create new ones.


Current Expected Credit Losses Policy Template – NEW!
Capital Planning Program Policy Template
Corporate Governance Policy Template
Regulation K Policy Template
Regulation O and Insider Activity Policy Template
Regulation W Policy Template
Stress Testing Program Policy Template

These new and updated products are in response to the Joint Release entitled “Agencies Allow Three-Year Regulatory Capital Phase In for New Current Expected Credit Losses (CECL) Accounting Standard” dated December 21, 2018 that approved a final rule modifying their regulatory capital rules and providing an option to phase in over a period of three years the day-one regulatory capital effects of the update to the accounting standard known as the “Current Expected Credit Losses” (CECL) methodology.  The final rule also revises the agencies’ other rules to reflect the update to the accounting standards.  The final rule was to take effect April 1, 2019, however, the effective date of the final rule published February 14, 2019 (84 FR 4222) is delayed until July 1, 2019 due to this publication in the federal register issued on March 29, 2019 by the federal banking agencies.  Banking organizations may early adopt this final rule prior to that date.


Bank Premises and Equipment Risk Management Policy Template
Fixed Asset Policy Template

The update to these products is in response to OCC Bulletin 2018-49 dated December 28, 2018 that announced a revised “Bank Premises and Equipment” booklet which provides updated guidance regarding risks and best practices associated with bank premises and equipment.

As a reminder, the complete contents of the Bank Premises and Equipment Risk Management Policy Template are included within the Fixed Asset Policy Template as Topic 5.


Consumer Loan Policy Template
Student Loan Program Policy Template

The update to these products is in response to OCC Bulletin 2018-48 dated December 27, 2018 that announced a revised “Student Lending” booklet which includes information about section 602 rehabilitation programs. In addition, the revised booklet contains other updates to clarify supervisory guidance, sound risk management, and regulatory requirements, as well as to update references due to new and rescinded OCC issuances.


Courier Service Policy Template
Safe Deposit Policy Template

The update to these products is in response to OCC Bulletin 2018-49 dated December 28, 2018 that announced a revised “Consigned Items and Other Customer Services” booklet which provides updated guidance regarding risks and best practices associated with consigned items and other customer services.


Litigation Risk Management Program Policy Template

The update to this product is in response to OCC Bulletin 2018-49 dated December 28, 2018 that announced a revised “Litigation and Other Legal Matters” booklet which provides updated guidance regarding risks and best practices associated with litigation and other legal matters.


Unfair or Deceptive Acts or Practices Policy Template

The update to this product is in response to FDIC’s announcement of a revised version of its Consumer Compliance Examination Manual (CEM) dated January 17, 2019 which updated several sections of the CEM.

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