OM-2.2.1
It must be standard practice for a bank's management to implement policies and procedures to manage risks arising out of a bank's activities. The bank must maintain written policies and procedures that identify the risk tolerances approved by the Board of Directors and should clearly delineate lines of authority and responsibility for managing the risks. Banks' employees and loan officers in particular must be fully aware of all policies and procedures that relate to their specific duties.
October 07