Supervision and reporting.

CFR · 2024-01-01 · US · Title 12

(a) (i) Effective systems of records, controls, and reports shall be maintained to keep management informed of their activities and condition. (ii) Such systems shall provide, in particular, information on risk assets, exposure to market risk, liquidity management, operations, internal controls, legal and operational risk, and conformance to management policies. (iii) Reports on risk assets shall be sufficient to permit an appraisal of credit quality and assessment of exposure to loss, and, for this purpose, provide full information on the condition of material borrowers. (iv) Reports on operations and controls shall include internal and external audits of the branch or subsidiary. (2) (i) Such information shall include audits and other reports on financial performance, risk exposure, management policies, operations, and controls. (ii) Complete information shall be maintained on all transactions with the joint venture by the investor and its affiliates. (3) (b) (c) (2) (3) (d) (2)

official document · source cfr-2024 · id 12:§ 211.13