(a) Authority, purpose, and scope. Pursuant to section 3 of the
Bank Protection Act of 1968 (12 USC 1882), member banks are required
to adopt
appropriate security procedures to discourage robberies, burglaries,
and larcenies, and to assist in the identification and prosecution
of persons who commit such acts. It is the responsibility of the member
bank’s board of directors to comply with the provisions of this section
and ensure that a written security program for the bank’s main office
and branches is developed and implemented.
(b) Designation of security officer. Upon becoming
a member of the Federal Reserve System, a member bank’s board of directors
shall designate a security officer who shall have the authority, subject
to the approval of the board of directors, to develop, within a reasonable
time, but no later than 180 days, and to administer a written security
program for each banking office.
3-372
(c) Security program.
(1) The security program shall—
(i) establish
procedures for opening and closing for business and for the safekeeping
of all currency, negotiable securities, and similar valuables at all
times;
(ii) establish
procedures that will assist in identifying persons committing crimes
against the institution and that will preserve evidence that may aid
in their identification and prosecution. Such procedures may include,
but are not limited to: maintaining a camera that records activity
in the banking office; using identification devices, such as prerecorded
serial-numbered bills, or chemical and electronic devices; and retaining
a record of any robbery, burglary, or larceny committed against the
bank;
(iii) provide
for initial and periodic training of officers and employees in their
responsibilities under the security program and in proper employee
conduct during and after a burglary, robbery, or larceny; and
(iv) provide for selecting,
testing, operating, and maintaining appropriate security devices,
as specified in paragraph (c)(2) of this section.
(2) Security devices. Each member bank shall have, at a minimum,
the following security devices:
(i) a means of protecting
cash and other liquid assets, such as a vault, safe, or other secure
space;
(ii) a lighting
system for illuminating, during the hours of darkness, the area around
the vault, if the vault is visible from outside the banking office;
(iii) tamper-resistant
locks on exterior doors and exterior windows that may be opened;
(iv) an alarm system
or other appropriate device for promptly notifying the nearest responsible
law enforcement officers of an attempted or perpetrated robbery or
burglary; and
(v)
such other devices as the security officer determines to be appropriate,
taking into consideration: the incidence of crimes against financial
institutions in the area; the amount of currency and other valuables
exposed to robbery, burglary, or larceny; the distance of the banking
office from the nearest responsible law enforcement officers; the
cost of the security devices; other security measures in effect at
the banking office; and the physical characteristics of the structure
of the banking office and its surroundings.
3-373
(d) Annual reports. The
security officer for each member bank shall report at least annually
to the bank’s board of directors on the implementation, administration,
and effectiveness of the security program.
(e) Reserve Banks. Each Reserve Bank shall
develop and maintain a written security program for its main office
and branches subject to review and approval of the Board.
