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BankNet
More resources for national banks

Trust Operations

National banks engaged in trust operations are subject to the rules, policies, and procedures applicable to recordkeeping and confirmation requirements. These requirements are described in Recordkeeping and Confirmation Requirements for Securities Transactions (12 CFR 12).

References
BC=Banking Circular
IL=Interpretive Letter
OCC=Bulletin

Asset Management Operations and Controls Comptroller's Handbook

New Notice Requirements for Sweep Accounts (OCC 2009-19, June 2009)
Covers the FDIC rule requiring banks to provide notices to sweep account customers

Sweep Fees (BC 218, October 1986)
Cautions national banks on trust department uses of "sweep" cash management programs when receiving supplemental fiduciary account fees

Waiver from 12 CFR 12 Confirmation Requirement (IL 1111, September 2008)
Addresses a request for waiver of a confirmation requirement when administering stock purchase and sale plans of companies

Waiver of Certain Provisions of 12 CFR 12 (IL 1029, May 2005)
Addresses waiver of transaction notification requirements related to a bank’s administration of stock purchase and sale plans


Related News and Issuances
Publish DateIdentifierTitle
03/27/2008  OCC 2008-10, Fiduciary Activities of National Banks: Annual Reviews of Fiduciary Accounts Pursuant to 12 CFR 9.6 (c)