Implements part of Annunzio-Wylie Anti-money Laundering Act of 1922

Authorizes the FRB and the Secretary of the Treasury jointly to prescribe recordkeeping and reporting requirements for domestic wire transfers by insured depository institutions

Requires the FRB and the Secretary of the Treasury jointly to prescribe recordkeeping and reporting requirements for international wire transfers by insured depository institutions and by nonbank financial institutions

The regulations referred to in the two bullets immediately above are found at 31 CFR Part 103.  See Bank Secrecy / Anti-money Laundering

To lower the triggering dollar threshold

There have been no recent amendments to Reg S

Points to Treasury/Bank Agency joint regulations at 31 CFR Part 103 for substantive provisions.  Adds only reimbursement and retention period provisions

12 CFR Part 219 - Reimbursement for providing financial
                                 records; recordkeeping requirements
                                 for certain financial records

Subpart A - Reimbursement to financial institutions
                      for providing financial records

Subpart B - Recordkeeping and reporting requirements
                      for funds transfers and transmittals of funds