Federal Reserve SR Letters

FinCEN Special Measures Imposed on Financial Institutions

The Federal Reserve issued SR 25-3 to inform supervised financial institutions about special measures imposed by FinCEN under the USA PATRIOT Act and other acts. These measures create legal obligations for institutions dealing with entities designated as primary money laundering concerns.

Federal Reserve Statement on Regulation O and FDIC Reporting for Investment Funds

The Federal Reserve issued a statement clarifying its enforcement discretion regarding Regulation O and FDIC reporting for certain investment funds. This guidance applies to banks and their principal shareholders, specifically asset managers, and provides temporary relief from certain credit extension restrictions.

FAQs on Suspicious Activity Reporting for Bank Holding Companies

The Federal Reserve, along with other financial regulators, has issued Frequently Asked Questions (FAQs) to clarify Suspicious Activity Reporting (SAR) requirements for financial institutions. These FAQs aim to assist institutions with their compliance obligations under the Bank Secrecy Act and do not alter existing regulations.