+-------+---+-----------------------+-----------+-----------------+---+
| # O   | # |                       |           |                 | # |
|       | # |                       |           |                 |   |
| ##    | # |                       |           |                 |   |
|       | # |                       |           |                 | # |
|       |   |                       |           |                 |   |
|       | O |                       |           |                 |   |
|       | C |                       |           |                 | # |
|       | C |                       |           |                 | # |
|       |   |                       |           |                 |   |
|       | 2 |                       |           |                 |   |
|       | 0 |                       |           |                 |   |
|       | 0 |                       |           |                 |   |
|       | 1 |                       |           |                 |   |
|       | - |                       |           |                 |   |
|       | - |                       |           |                 |   |
|       | 7 |                       |           |                 |   |
|       |   |                       |           |                 |   |
+-------+---+-----------------------+-----------+-----------------+---+
|       | * |                       |           |                 |   |
|       | * |                       |           |                 |   |
|       | O |                       |           |                 |   |
|       | C |                       |           |                 |   |
|       | C |                       |           |                 |   |
|       | B |                       |           |                 |   |
|       | U |                       |           |                 |   |
|       | L |                       |           |                 |   |
|       | L |                       |           |                 |   |
|       | E |                       |           |                 |   |
|       | T |                       |           |                 |   |
|       | I |                       |           |                 |   |
|       | N |                       |           |                 |   |
|       | * |                       |           |                 |   |
|       | * |                       |           |                 |   |
+-------+---+-----------------------+-----------+-----------------+---+
| ## Co |   |                       |           |                 |   |
| mptro |   |                       |           |                 |   |
| ller  |   |                       |           |                 |   |
| of th |   |                       |           |                 |   |
| e Cur |   |                       |           |                 |   |
| rency |   |                       |           |                 |   |
|       |   |                       |           |                 |   |
| > Adm |   |                       |           |                 |   |
| inist |   |                       |           |                 |   |
| rator |   |                       |           |                 |   |
| > of  |   |                       |           |                 |   |
| > Nat |   |                       |           |                 |   |
| ional |   |                       |           |                 |   |
| >     |   |                       |           |                 |   |
| Banks |   |                       |           |                 |   |
+-------+---+-----------------------+-----------+-----------------+---+
| #     |   | ## Anti-Mone          | ## Des    | ## Base         |   |
| # Sub |   | y-Laundering Guidance | cription: | l Committee Con |   |
| ject: |   |                       |           | sultative Paper |   |
+-------+---+-----------------------+-----------+-----------------+---+

**TO:** Chief Executive Officers of National Banks, Department and
Division Heads, Examining Personnel, and Other Interested Parties

On January 31, 2001, the Basel Committee on Banking Supervision
(committee) published a consultative paper entitled "Customer Due
Diligence for Banks." The paper is available on the committee's Web site
at http://www.bis.org/publ/index.htm. Comments are being accepted by the
committee until March 31, 2001.

The committee's paper provides guidance to banks and bank supervisors on
customer due diligence. The paper particularly focuses on basic
standards for customer acceptance, identification, and dealing with
high-risk accounts; the role of supervisors; and customer due diligence
in a cross-border context. Although the due diligence standards
discussed in the paper are unlikely to require a change to current OCC
supervisory practices in the area of anti-money-laundering, national
banks are encouraged to review and comment on the paper, as appropriate.
The committee will finalize the paper once the comment period is
finished.

Comments may be submitted to the Basel Committee to the following
address:

Basel Committee on Banking Supervision

Bank for International Settlements

CH - 4002 Basel

Switzerland

Copies may be sent to the OCC to:

Basel CDD Consultative Paper

Office of the Comptroller of the Currency, Mail Stop 3-6

250 E Street, SW

Washington, DC 20019

For further information regarding this bulletin, please contact Tanya
Smith, senior international advisor, International Banking and Finance,
at (202) 874-4730.

\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_

Jonathan L. Fiechter

Senior Deputy Comptroller for International and Economic Affairs