April 24, 2006 News Archive

SR 06-8: Reports of Examinations of Government Securities Activities offsite link
In SR 06-8, the Board announced reductions in the reporting requirements for exams of government securities custodial activities of state member banks, branches and agencies. Effective immediately, the Board is withdrawing AD 91-26 and eliminating form FR 1468.

Board Issues Guidance on Public Comments and Meetings Regarding Basel II-related Proposals offsite link
The Board issued AD 06-10 related to the proposed revisions to the regulatory capital regime known as Basel II. This was prompted by the release on March 30, by the Board of Governors of an interagency notice of proposed rulemaking (NPR) that describes the new risk-based capital framework. The release is still draft pending approval by the other agencies and subsequent publication in the Federal Register.

Changes to BSA Suspicious Activity Report Form Proposed offsite link
The Financial Crimes Enforcement Network (FinCEN) and the federal bank, thrift and credit union regulatory agencies are soliciting comments on proposed changes to the Suspicious Activity Report (SAR) form. (PDF)

FBI Likes Currency Reports
In recent testimony, the Federal Bureau of Investigation sent a strong signal that it does not want to see significant changes for financial institutions in complying with the Bank Secrecy Act without thorough study.