Revised Policy Templates for January 2015
Anti-Money Laundering Policy Template- Bank
Automated Clearing House Policy Template
Bank Secrecy Act Policy Template – Basic Version
Bank Secrecy Act Policy Template – Comprehensive Version
Customer Identification Program Policy Template
Office of Foreign Assets Control Policy Template
Stored Value and Prepaid Card Program Policy Template
The update to these products is in response to the FFIEC’s release of “The 2014 Version of the Bank Secrecy Act/Anti-Money Laundering Examination Manual” dated 12/02/2014. The revised manual provides current guidance on risk based policies, procedures, and processes for banking organizations to comply with the BSA and safeguard operations from money laundering and terrorist financing. The 2014 version further clarifies supervisory expectations and regulatory changes since the last update of the manual in 2010. The revisions again incorporate feedback from the banking industry and examination staff.
Consumer Loan Policy Template
Non-Accrual and Charged-Off Loan Policy Template
Risk Management of Foreclosure Policy Template
Servicemembers Civil Relief Act Policy Template
Troubled Debt Restructuring Policy Template
The update to these products is in response to the presidential signing of S.3008 entitled “Foreclosure Relief and Extension for Servicemembers Act of 2014” which extends the sunset date to December 31, 2015, for the temporary substitution of “one year” for “90 days” in the foreclosure protections under the Servicemembers Civil Relief Act (SCRA) sections 303(b) and (c) (50 App. U.S.C. 533).
The update to this product is in response to the Federal Reserve’s Press Release entitled “Agencies Release Annual CRA Asset-Size Threshold Adjustments for Small and Intermediate Small Institutions” dated 12/19/14 that announced the annual adjustment to the asset-size thresholds used to define small bank, small savings association, intermediate small bank, and intermediate small savings association under the Community Reinvestment Act (CRA) regulations..
This product was revised in response to the Federal Reserve’s Press Release dated 12/01/14 that adopted companion amendments to Regulation J (Collection of Checks and Other Items by Federal Reserve Banks and Funds Transfers through Fedwire) to permit the Reserve Banks to obtain settlement from paying banks by as early as 8:30 a.m. ET for checks that the Reserve Banks present and to permit the Reserve Banks to require paying banks that receive presentment of checks from the Reserve Banks to make the proceeds of settlement for those checks available to the Reserve Banks as soon as 30 minutes after receipt of the checks. The changes to Regulation J are effective July 23, 2015.