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e-CFR
Data is current as of March 27, 2008

Title 12:
Banks and Banking

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PART 568—SECURITY PROCEDURES

Section Contents
§ 568.1   Authority,
purpose, and scope.
§ 568.2   Designation
of security officer.
§ 568.3   Security
program.
§ 568.4   Report.
§ 568.5   Protection
of customer information.

Authority:   12 U.S.C. 1462a, 1463,
1464, 1467a, 1828, 1831p–1, 1881–1884; 15 U.S.C. 1681s and 1681w; 15
U.S.C. 6801 and 6805(b)(1).

Source:   56 FR 29566, June 28, 1991,
unless otherwise noted.

§ 568.1   Authority, purpose, and
scope.

top

(a) This part is issued by the Office of Thrift Supervision (OTS) under
section 3 of the Bank Protection Act of 1968 (12 U.S.C 1882), sections 501
and 505(b)(1) of the Gramm-Leach-Bliley Act (15 U.S.C. 6801 and
6805(b)(1)), and sections 621 and 628 of the Fair Credit Reporting Act (15
U.S.C. 1681s and 1681w). This part is applicable to savings associations.
It requires each savings association to adopt appropriate security
procedures to discourage robberies, burglaries, and larcenies and to
assist in the identification and prosecution of persons who commit such
acts. Section 568.5 of this part is applicable to savings associations and
their subsidiaries (except brokers, dealers, persons providing insurance,
investment companies, and investment advisers). Section 568.5 of this part
requires covered institutions to establish and implement appropriate
administrative, technical, and physical safeguards to protect the
security, confidentiality, and integrity of customer information.

(b) It is the responsibility of an association's board of directors to
comply with this regulation and ensure that a written security program for
the association's main office and branches is developed and
implemented.

[56 FR 29566, June 28, 1991, as amended at 66 FR 8639, Feb. 1, 2001; 69
FR 77620, Dec. 28, 2004]

§ 568.2   Designation of security
officer.

top

Within 30 days after the effective date of insurance of accounts, the
board of directors of each savings association shall designate a security
officer who shall have the authority, subject to the approval of the board
of directors, to develop, within a reasonable time but no later than 180
days, and to administer a written security program for each of the
association's offices.

§ 568.3   Security program.

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(a) Contents of security program. The security program
shall:

(1) Establish procedures for opening and closing for business and for
the safekeeping of all currency, negotiable securities, and similar
valuables at all times;

(2) Establish procedures that will assist in identifying persons
committing crimes against the association and that will preserve evidence
that may aid in their identification and prosecution. Such procedures may
include, but are not limited to:

(i) Maintaining a camera that records activity in the office;

(ii) Using identification devices, such as prerecorded serial-numbered
bills, or chemical and electronic devices; and

(iii) Retaining a record of any robbery, burglary, or larceny committed
against the association;

(3) Provide for initial and periodic training of officers and employees
in their responsibilities under the security program and in proper
employee conduct during and after a burglary, robbery, or larceny; and

(4) Provide for selecting, testing, operating and maintaining
appropriate security devices, as specified in paragraph (b) of this
section.

(b) Security devices. Each savings association shall have, at a
minimum, the following security devices:

(1) A means of protecting cash and other liquid assets, such as a
vault, safe, or other secure space;

(2) A lighting system for illuminating, during the hours of darkness,
the area around the vault, if the vault is visible from outside the
office;

(3) Tamper-resistent locks on exterior doors and exterior windows that
may be opened;

(4) An alarm system or other appropriate device for promptly notifying
the nearest responsible law enforcement officers of an attempted or
perpetrated robbery or burglary; and

(5) Such other devices as the security officer determines to be
appropriate, taking into consideration:

(i) The incidence of crimes against financial institutions in the
area;

(ii) The amount of currency and other valuables exposed to robbery,
burglary, or larceny;

(iii) The distance of the office from the nearest responsible law
enforcement officers;

(iv) The cost of the security devices;

(v) Other security measures in effect at the office; and

(vi) The physical characteristics of the structure of the office and
its surroundings.

§ 568.4   Report.

top

The security officer for each savings association shall report at least
annually to the association's board of directors on the implementation,
administration, and effectiveness of the security program.

§ 568.5   Protection of customer
information.

top

Savings associations and their subsidiaries (except brokers, dealers,
persons providing insurance, investment companies, and investment
advisers) must comply with the Interagency Guidelines Establishing
Information Security Standards set forth in appendix B to part 570 of this
chapter. Supplement A to appendix B to part 570 of this chapter provides
interpretive guidance.

[70 FR 32229, June 2, 2005]

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