To All Depository Institutions and Others Concerned in the Second Federal Reserve District:
In a joint press release, the Federal Reserve Board, the Office of the Comptroller of the Currency, the Securities and Exchange Commission, and the New York State Banking Department announced the issuance of a "Draft White Paper on Sound Practices to Strengthen the Resilience of the U.S. Financial System."
The agencies request comment on the appropriate scope and application of the sound practices and related issues. After consideration of the comments received, the agencies intend to issue a final version of the White Paper. Comments are requested by October 21, 2002.
The draft white paper on this matter is attached.