The Federal Reserve Bank of New York works to promote sound and well-functioning financial systems and markets through its provision of industry and payment services, advancement of infrastructure reform in key markets and training and educational support to international institutions.
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To the Chief Executive Officers of All State Member Banks, Bank Holding Companies, Edge & Agreement Corporations, and Uninsured State-Licensed Branches & Agencies of Foreign Banks in the Second Federal Reserve District:
In February, the federal banking agencies issued guidelines establishing interagency standards for safeguarding confidential customer information (see our Circular No. 11322, dated February 12, 2001). The guidelines, effective July 1, 2001, were published in the Federal Register of February 1. As adopted by the Federal Reserve Board, the guidelines apply to customer information maintained by state member banks, bank holding companies, Edge and agreement corporations, and uninsured state-licensed branches and agencies of foreign banks.
On May 31, the Federal Reserve Board issued a supervisory letter (SR 01-15), further explaining the standards and transmitting guidance (pdf - 15kb) that it developed to assist examiners in documenting a financial institutions compliance with the guidelines.
Questions on this matter may be directed, at this Bank, to Ira Adler or Todd Waszkelewicz, Examining Officers in the Operational Risk Department.