Moreover, as was mentioned above, the specific Basle guidance has been fully incorporated in the soon-to-bereleased updates to our Trading and Capital Markets Activities Manual. In addition, existing Federal Reserve guidance is also consistent with that issued by the OCC.
In its most recent supplemental guidance to Banking Circular 277 and the Comptroller’s Handbook for National Bank Examiners, the Comptroller identifies 13 lessons learned from events over the past two years. Although Federal Reserve guidance on trading and derivative activities may use different formats, it conveys the same direction and sound practices to supervised institutions embodied in each of these 13 lessons.