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FRS RIN: 7100-AG08 Publication ID: Fall 2023 
Title: Regulation H--Membership of State Banking Institutions in the Federal Reserve System; Reports of Suspicious Activities Under Bank Secrecy Act (Docket No: R-1738) 
Abstract:

The Board of Governors of the Federal Reserve System is inviting comment on a proposed rule that would modify the requirements to file Suspicious Activity Reports for state member banks, Edge and agreement corporations, U.S. offices of foreign banking organizations supervised by the Federal Reserve, and bank holding companies and their nonbank subsidiaries. Specifically, the proposed rule would amend the Board’s Suspicious Activity Report regulations to provide for the issuance of exemptions from the requirements of those regulations, in full or in part.  The proposed rule is intended, among other things, to facilitate supervised institutions in meeting Bank Secrecy Act requirements more efficiently and effectively, including through development of innovative solutions.

 
Agency: Federal Reserve System(FRS)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Proposed Rule Stage 
Major: No  Unfunded Mandates: No 
CFR Citation: 12 CFR 208   
Legal Authority: 12 U.S.C. 24    12 U.S.C. 36    12 U.S.C. 461    12 U.S.C 601    12 U.S.C. 1814    ...   
Legal Deadline:  None
Timetable:
Action Date FR Cite
Board Requested Comment  01/22/2021  86 FR 6576   
Board Expects Further Action  03/00/2024 
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Jason Gonzalez
Deputy Associate General Counsel
Federal Reserve System
Legal Division,
Washington, DC 20551
Phone:202 452-3275

Bernard Kim
Special Counsel
Federal Reserve System
Legal Division,
Washington, DC 20551
Phone:202 452-3080

Suzanne Williams
Deputy Associate Director
Federal Reserve System
Division of Supervision and Regulation,
Washington, DC 20551
Phone:202 452-3513

Koko Ives
Manager, BSA/AML Risk
Federal Reserve System
Division of Supervision and Regulation,
Washington, DC 20551
Phone:202 973-6163