Guidance to Large Institutions in Applying Recommendations of Private-Sector Working Group on Public Disclosure
April 3, 2001
Circular No. 11334

To the Chief Executive Officers of State Member Banks and Bank Holding Companies with Consolidated Assets of $10 Billion or More in the Second Federal Reserve District:

The attached supervisory letter (SR 01-6) is intended as a follow-up to the recommendations of the Wording Group on Public Disclosure that was formed in April 2000 with the participation of the Office of the Comptroller of the Currency and the Securities and Exchange Commission. This Working Group, headed by Walter Shipley, retired chairman of the Chase Manhattan Bank, issued its recommendations in January of this year (see our Circulars No. 11247 and No. 11314).

In its press release dated March 23, 2001, the Federal Reserve Board stated that the supervisory letter contains guidance that encourages large banking organizations (i.e., those with consolidated total assets of $10 billion or more) to use the Working Group's recommendations in order to enhance their public disclosures.

Questions on this matter may be directed, at this Bank, to Sarah Dahlgren, Senior Vice President, Bank Supervision Group.