The OCC has something called "Reg 9" that outlines the fiduciary responsiblities of Trust Departments of National Banks. Does anyone know if the Fed has a similar issuance? Or, would this be governed solely by state law? (And why do I always get asked questions like this at 5pm on Friday afternoon?!?)
Thanks!
Leslie

Not that I know of. It is a matter of state law, common law and references to Reg 9 (ex: collective funds).

You are right in that the OCC has "Reg 9" that essentially governs the Fiduciary Activities of National Banks. I don't know of anything specific in the Fed's Reg that is comparable, but this link should take you to a 1996 issuance by the Fed regarding the Risk-Focused Fiduciary Examinations that may be of assistance to you.