Regulations last checked for updates: Nov 24, 2024

Title 12 - Banks and Banking last revised: Nov 20, 2024
§ 609.940 - Internal systems and controls.

When applicable, internal systems and controls must provide reasonable assurances that System institutions will:

(a) Follow and achieve business plan objectives and policies and procedures requirements regarding E-commerce; and

(b) Prevent and detect material deficiencies on a timely basis.

authority: Sec. 5.9 of the Farm Credit Act (12 U.S.C. 2243); 5 U.S.C. 301; Pub. L. 106-229 (114 Stat. 464)
source: 67 FR 16631, Apr. 8, 2002, unless otherwise noted.
cite as: 12 CFR 609.940