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Subject: Application of Recent Corporate Governance Initiatives to Non-Public Banking Organizations
Date: May 29, 2003
To: Chief Executive Officers of All National Banks, Department and Division Heads, All Examining Personnel, and Other Interested Parties
Description: Interagency Statement
The guidance attached to this bulletin continues to apply to federal savings associations.
On May 6, 2003, the Office of the Comptroller of the Currency, the Office of Thrift Supervision, and the Board of Governors of the Federal Reserve System jointly issued the attached Interagency Statement on the Application of Recent Corporate Governance Initiatives to Non-Public Banking Organizations. The Interagency Statement was prepared in response to questions the agencies have received concerning whether they intend to require banking organizations to comply with the provisions of the Sarbanes-Oxley Act or the proposed NYSE and NASDAQ listing standards if the banking organizations are not public companies or otherwise subject to the provisions through other laws.
For more information, contact Kirk Spurgin in the Core Policy Division at (202) 874-5190.