The guidance provides that financial institutions supervised by the Board should establish and maintain written policies and procedures for identifying, evaluating, assessing, documenting, and controlling risks associated with certain complex structured finance transactions (CSFTs), and should retain certain documents related to elevated risk CSFTs. For purposes of the Boardâs review, the term âfinancial institutionâ refers to state member banks, bank holding companies (other than foreign banking organizations), savings and loan holding companies (SLHCs), and U.S. branches and agencies of foreign banks.
US Code:
12 USC 602
Name of Law: Federal Reserve Act
US Code:
12 USC 1844(c)
Name of Law: Bank Holding Company Act of 1956
US Code:
12 USC 1467a(b) and (g)
Name of Law: Home Ownersâ Loan Act
US Code:
12 USC 3105(c)
Name of Law: International Banking Act of 1978
US Code:
12 USC 248(a)
Name of Law: Federal Reserve Act
US Code:
12 USC 3108(a)
Name of Law: International Banking Act of 1978
US Code:
12 USC 325
Name of Law: Federal Reserve Act
US Code:
12 USC 483
Name of Law: Federal Reserve Act
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
FR4022_20190911_omb.pdf
Maintain records associated with the compliance program