End Of Year Checklist

Posted By: Anonymous

End Of Year Checklist - 12/30/02 02:34 AM

With only 2 days left in 2002, what would be some suggestions for a new compliance person or
I guess any person in compliance to make sure to review before the end of business in 2002.
This may sound a little silly, but being new I want to make sure I've not overlooked something that
would be hard to correct later.
Hope everyone has a good, happy and safe New Year in 2003
Posted By: Andy_Z

Re: End Of Year Checklist - 12/30/02 03:34 AM

There are very few year-end triggers I can think of.

If you oversee the FFIEC 004 report, that is due by Jan. 31. (We also update our related interest report with this since we are contacting many of the same folks.)

Quarterly you should be updating HMDA. With the year-end you need to be finalizing HMDA and possibly your CRA submission for March 1.

CRA needs to be updated by April 1.

Most compliance specific items are triggered by events with a few exceptions. (Publicly traded banks may have more filings of financials and such.)
Posted By: Ross A

Re: End Of Year Checklist - 12/30/02 11:08 AM

March 15 is your deadline for renewing phase2 exemptions.
Posted By: Lestie G

Re: End Of Year Checklist - 12/30/02 03:14 PM

Not a regulatory requirement, but I use the end of the year as a good time for cleaning out my files to send things to record storage. That way I can be sure I haven't overlooked something in a pending file that needs to be taken care of before year end.

In addition to the Reg O, HMDA, CRA LAR and BSA exemption tasks listed above, I also start investigating potential CRA Sunshine agreements for reporting about now.
Posted By: complylady

Re: End Of Year Checklist - 12/30/02 03:48 PM

Also remember to communicate the annual change to the total points and fees from $480 to $488 and update your Section 32 worksheets to reflect the change.