[Code of Federal Regulations]
[Title 12, Volume 2]
[Revised as of January 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 12CFR219.21]

[Page 459]
 
                       TITLE 12--BANKS AND BANKING
 
                   CHAPTER II--FEDERAL RESERVE SYSTEM
 
PART 219--REIMBURSEMENT FOR PROVIDING FINANCIAL RECORDS; RECORDKEEPING REQUIREMENTS FOR CERTAIN FINANCIAL RECORDS (REGULATION S)--Table of Contents
 
Subpart B--Recordkeeping and Reporting Requirements for Funds Transfers 
                        and Transmittals of Funds
 
Sec. 219.21  Authority, purpose and scope.

    Authority: 12 U.S.C. 1829b(b)(2) and (3).

    Source: 60 FR 233, Jan. 3, 1995, unless otherwise noted.


    This subpart of Regulation S (12 CFR part 219, subpart B) is issued 
by the Board under the authority of section 21(b) of the Federal Deposit 
Insurance Act (12 U.S.C. 1829b), as amended by the Annunzio-Wylie Anti-
Money Laundering Act of 1992 (Pub. L. 102-550, Title XV; 106 Stat. 3672, 
4044), which authorizes the Board and the Secretary of the Treasury 
jointly to prescribe recordkeeping and reporting requirements for 
domestic wire transfers by insured depository institutions; and which 
also requires the Board and the Treasury jointly to prescribe 
recordkeeping and reporting requirements for international wire 
transfers by insured depository institutions and by nonbank financial 
institutions. The definitions and recordkeeping and reporting 
requirements referenced in this subpart are promulgated and administered 
jointly by the Board and the Treasury and are codified in 31 CFR 103.11 
and 103.33(e) and (f). This subpart does not apply to a particular 
person or class of persons or a particular transaction or class of 
transactions to the extent that the Treasury has determined that 31 CFR 
103.33(e) or (f) do not apply to that person, transaction, or class of 
persons or transactions. These recordkeeping and reporting requirements 
will assist in the prosecution of money laundering activities and are 
determined to have a high degree of usefulness in criminal, tax or 
regulatory investigations or proceedings.

[60 FR 233, Jan. 3, 1995, as amended by Reg. S, 61 FR 58975, Nov. 20, 
1996]