Trust Examiner School eBook

160-Trust Folder

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Item Label

Item Description

160.01 Completed General Information Questionnaire. (form attached to notification letter) 160.02 Completed Trust Officer's Questionnaire. (form attached to notification letter)

Completed Officer's Statement of Trust Department Assets and Liabilities. (form attached to notification letter)

160.03

160.04 Minutes of the Board of Directors and Trust Committee(s). 160.05 Trust department’s organizational chart. 160.06 Trust department’s policy manual. 160.07 Insurance policies carried by the institution to cover fiduciary and surcharge liabilities.

160.08 If trust records are maintained on a manual recordkeeping system, make available to examiners the trust ledger sheets/cards (general and subsidiary ledgers). If trust records are maintained on a computerized recordkeeping system, then provide as of the date of examination: (a) The exam or audit package, if this package of reports is available from your software servicer. (b) If (a) above is not available, then provide the following reports at a minimum: (1) Trial balance of accounts (report listing account number, name, and total assets), (2) Overdraft report, (3) Large cash balances report, (4) Assets by account report (detailing assets held in each account=Portfolio Investment Review for SunGard users), (5) Securities cross-reference report (lists each asset held, and for each asset details which accounts hold the asset), (6) Report listing the credit quality rating (S&P rating, etc.) for each asset, (7) Report listing the location of each asset. Most recent trust department audit (internal and/or external), along with any written responses made by management. 160.15 A list of liabilities within accounts. 160.16 A list of all estates that have been in the process of administration longer than 18 months. 160.17 A list of real estate held by accounts on which there exists delinquencies in taxes or rental income. 160.18 A copy of any DOL audits completed since the prior FDIC/FRB trust examination. With respect to directors, officers, or employees, list assets held by accounts which represent their business interests. A list of all voting securities held in accounts where the trust department holds, in aggregate, five percent or more of the outstanding security. 160.19 160.20 160.21 A copy of the most recent report of bank’s and competitors’ deposit interest rates. 160.22 A copy of the trust department’s fee schedule. 160.23 A list of accounts on which no fees or commissions are charged, including the reasons therefore. 160.24 Trust department budget for the prior year, the current year, and for next year, if available. Actual income and expenses for the trust department, for the current year and prior year. Please also include any surcharges, losses, or charge-offs, and recoveries. Description of any litigation involving the trust department. If there is potential for a materially adverse outcome in dollar amount, provide also a current attorney opinion letter, including the attorney’s understanding of the facts involved, present status of the litigation and attorney’s opinion of the likely outcome of such litigation. Schedule RC-T (Fiduciary and Related Services) & work papers from the bank’s Call Reports for the prior two year-ends. 160.26 160.27 A copy of the trust department's Recordkeeping Disaster Recovery Program and the date and results of the most recent Business Resumption (Contingency) Plan. A listing of outside service providers and have copies of their contracts available for review. Examples include software service providers, pricing services, recordkeepers, and proxy voting services. A list of accounts with discretionary investment authority that hold own-bank or affiliated financial institution interest-bearing deposits, if not already provided in conjunction with another request item. Please indicate interest rates paid and maturity. Report own bank and affiliated-institution deposits separately and money market deposits and certificates of deposit separately. 160.31 160.32 Trust operations procedures manual. 160.33 Most recent vendor management reviews including most recent SOC 1 and/or SOC 2 audits. 160.34 160.09 160.10 Bank’s daily statement as of the date of examination. 160.11 Most recent reconcilement for all checking accounts used for trust department accounts. 160.12 Report listing outstanding trust checks, including dates and amounts. 160.13 Most recent reconcilement for all suspense (internal) accounts used in trust recordkeeping. 160.14 160.25 160.28 Most recent Regulation R Policy and Calculation. 160.29 Trust management succession plan. 160.30