100 STAT. 3207-27
PUBLIC LAW 99-570—OCT. 27, 1986
(2) by inserting ", is about to transport," after "transports", (c) TECHNICAL AND CONFORMING AMENDMENT.—Section 5316(a)(2) of title 31, United States Code, is amended by striking out "$5,000" and inserting in lieu thereof "$10,000". SEC. 1359. BANKING REGULATORY AGENCY SUPERVISION OF RECORDKEEPING SYSTEMS. (a) INSURED BANKS.—
(1) IN GENERAL.—Section 8 of the Federal Deposit Insurance Act (12 U.S.C. 1818) is amended by adding at the end thereof the following new subsection: "(s) COMPLIANCE WITH MONETARY TRANSACTION RECORDKEEPING AND REPORT REQUIREMENTS.— "(1) COMPLIANCE PROCEDURES REQUIRED.—Each appropriate
31 USC 5311 et seq-
Federal banking agency shall prescribe regulations requiring insured banks to establish and maintain procedures reasonably designed to assure and monitor the compliance of such banks with the requirements of subchapter II of chapter 53 of title 31, United States Code. "(2) EXAMINATIONS O F BANK TO INCLUDE REVIEW OF COMPLIANCE PROCEDURES.—
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"(A) IN GENERAL.—Each examination of an insured bank by the appropriate Federal banking agency shall include a review of the procedures required to be established and maintained under paragraph (1).
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"(B) EXAM REPORT REQUIREMENT.—The report of examina-
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tion shall describe any problem with the procedures maintained by the insured bank. "(3) ORDER TO COMPLY WITH REQUIREMENTS.—If the appro-
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priate Federal banking agency determines that an insured bank— "(A) has failed to establish and maintain the procedures described in paragraph (1); or
"(B) has failed to correct any problem with the proce,^ dures maintained by such bank which was previously reported to the bank by such agency, the agency shall issue an order in the manner prescribed in subsection (b) or (c) requiring such bank to cease and desist from its violation of this subsection or regulations prescribed under this subsection.". (2) CIVIL MONEY PENALTIES FOR FAILURE TO MAINTAIN COMPLIANCE PROCEDURES.—Section 8(i)(2)(i) of the Federal
Deposit
Insurance Act (12 U.S.C. 1818(i)(2)(i)) is amended by striking out "subsection (b) or (c)" and inserting in lieu thereof "subsection (b),(c),or(s)". (b) INSTITUTIONS REGULATED BY THE BANK BOARD.—
(1) IN GENERAL.—Section 5(d) of the Home Owners' Loan Act of 1933 (12 U.S.C. 1464(d)) is amended by adding at the end thereof the following new paragraph: Regulations.
31 USC 5311 et
seq.
"(16) CoMPUANCE W I T H MONETARY TRANSACTION RECORDKEEPING AND REPORT REQUIREMENTS.— "(A) COMPLIANCE PROCEDURES REQUIRED.—The Board shall
prescribe regulations requiring sissociations to establish and maintain procedures resisonably designed to assure and monitor the compliance of such associations with the requirements of subchapter II of chapter 53 of title 31, United States Code.
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