Answer by Barbara Hurst
If you go to the Launch Pad on BankersOnline.com, and use the Legal links to access the applicable CFRs (federal regulations) (or, in the case of the Federal Reserve's regulation, use our Alphabet Soup, which gives you the full versions of all the Federal Reserve regulations.)
If your primary federal regulator is the Federal Reserve, go to Regulation H, 12 CFR Part 208. Then go to Subpart F - Miscellaneous Requirements - Sections 208.60 through 208.64 are what you're looking for. - particularly Section 208.61 - Bank security procedures and 208.62 - Suspicious activity reports
If your primary federal regulator is FDIC - you'll want 12 CFR Part 326, Subpart A - (Minimum Security Procedures)If your regulator is OCC - 12 CFR Part 21, Subpart A (Minimum Security Devices and Procedures).
For OTS-supervised institutions - 12 CFR Part 568 (Security Procedures
Credit unions, look to the NCUA - Rules and Regulations - 12 CFR Part 748 (Report of Crime or Catastrophic Act and Bank Secrecy Act Compliance)
NCUA - Accounts Manual for Federal Credit Unions - Section 5193 - (Security Devices and Procedures)
Answer by Andy Zavoina
208.61 is your cite, but it is vague. Most banks were going way beyond these basic requirements so there was little need to enhance them and attempt to legislate something that wasn't a problem.
First published on BankersOnline.com 5/7/01