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#165009 - 02/27/04 08:27 PM Phase I annual reviews
MackenzieS Offline
Diamond Poster
MackenzieS
Joined: Jul 2002
Posts: 1,722
Oklahoma
If you have filed a Phase I exemption for a correspondent bank, are we still required to perform an annual review? I know it is not subject to the same review requirements as Phase II, but I was wondering how others treated exempted banks during their review process.

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#165010 - 02/27/04 08:39 PM Re: Phase I annual reviews
BrendaC Offline
Power Poster
BrendaC
Joined: Sep 2001
Posts: 6,029
Sweet Home AL
I review them to make sure they are still open and operating under the same name. That's about it for a bank.
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Life without Jesus is like an unsharpened pencil - it has no point.

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#165011 - 02/27/04 08:43 PM Re: Phase I annual reviews
John Burnett Offline
10K Club
John Burnett
Joined: Oct 2000
Posts: 40,086
Cape Cod
That is the extent of what we do for banks, too.
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John S. Burnett
BankersOnline.com
Fighting for Compliance since 1976
Bankers' Threads User #8

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#165012 - 02/27/04 08:45 PM Re: Phase I annual reviews
MackenzieS Offline
Diamond Poster
MackenzieS
Joined: Jul 2002
Posts: 1,722
Oklahoma
Thanks!

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