To All State Member Banks and Bank and Financial Holding Companies in the Second Federal Reserve District:
The Board of Governors of the Federal Reserve System has issued new guidelines on the frequency and scope of the examination coverage of fiduciary activities of banking organizations supervised by the Federal Reserve. The guidelines are contained in a supervisory letter (SR 01-5).
In effect, the new guidelines revoke the trust and transfer agent examination frequency requirements of a 1986 supervisory letter (SR 86-39).
Questions on this matter may be directed, at this Bank, to Janet K. Rogers, Senior Vice President.