Provided below are materials responsive to a request made under the Freedom of Information Policy of the Federal Reserve Bank of New York (New York Fed) for certain records and policies applicable to the New York Fed’s Central Bank and International Account Services (CBIAS) unit.
Records in this production were initially released to the requestor on July 29, 2016. These records, which have been redacted as appropriate in accordance with the Freedom of Information Policy, include certain operating procedures and policies in use by the New York Fed in connection with its internal anti-money laundering and sanctions compliance programs. In addition, these documents include the New York Fed’s standard account agreement template for accounts maintained at the New York Fed for foreign central banks and monetary authorities.
As set forth in these policies and procedures, the New York Fed performs certain screening of and diligence on funds transfers sent both to and from the accounts of foreign central banks on our books. This is done for several purposes, including to prevent the transfer of dollars to a sanctioned jurisdiction or person, and to detect potential money laundering or other suspicious activity.