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OCC Bulletin 2014-25
May 28, 2014
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Chief Executive Officers and Asset Management Personnel of All National Banks and Federal Savings Associations, Department and Division Heads, All Examining Personnel, and Other Interested Parties
The Office of the Comptroller of the Currency (OCC) issued today the "Collective Investment Funds" booklet of the Comptroller's Handbook. This revised booklet replaces a similarly titled booklet issued in October 2005.
This booklet provides updated guidance to examiners and bankers on collective investment funds offered to customers of national banks and federal savings associations; explains the risks inherent in such products and services; and provides a framework for managing those risks.
Specifically, this booklet
This booklet applies to all banks that offer collective investment funds. A community bank's board and management should identify the material risks associated with the provision of collective investment funds and establish a risk management system that effectively assesses, measures, monitors, and controls those risks.
With the issuance of this booklet, the following guidance has been rescinded:
For further information, contact Joel Miller, Asset Management Group Leader, Credit and Market Risk Division, at (202) 649-6360.
John C. Lyons Jr.
Senior Deputy Comptroller and Chief National Bank Examiner