Certified Regulatory Compliance Manager (CRCM) — Question 284
Which of the following is NOT a requirement of Regulation F?
Answer options
- A. Writing and maintaining policies and procedures for managing exposure to correspondent banks
- B. Monitoring the exposure to correspondent banks on a regular basis
- C. Establishing internal limits on exposure to correspondents
- D. Providing quarterly reports to the board of directors of compliance audit results
Correct answer: D
Explanation
The correct answer is D because providing quarterly reports to the board of directors is not a specific requirement outlined in Regulation F. Options A, B, and C are all essential components of risk management in relation to correspondent banks as stated in the regulation.