2003 Committee Charter : FBF
FLEETBOSTON FINANCIAL CORPORATION
FLEET NATIONAL BANK
Risk Management Committee Charter
The Risk Management Committee shall assist the Board of Directors with its oversight of (i) the
processes for managing the Corporation's credit, price, interest rate, liquidity and foreign
exchange risks, (ii) the process for determining the adequacy of the Corporation's reserve, (iii)
the adequacy of the Corporation's capital levels and (iv) the performance of the Corporation's
internal risk review function.
The Risk Management Committee shall be appointed by a resolution passed by a majority of the
Board of Directors. A minimum of three members of the Board shall be selected to serve on the
Risk Management Committee. The Committee shall satisfy all requirements established by the
Securities and Exchange Commission and the New York Stock Exchange.
DUTIES AND RESPONSIBILITIES
In carrying out its purposes, the Risk Management Committee shall have the following duties,
responsibilities and authority.
Credit and Equity Portfolios
credit portfolios, (e.g., the C&I, commercial real estate, consumer cross border and
market risk portfolios) and Principal Investing business, including the adoption or
amendment of appropriate policies and risk limits from time to time.
risk diversification and country risk.
board reportable exceptions (including exceptions to supervisory limits on real estate
allowance for loan and lease losses and monitor the adequacy of the allowance for
loan and lease losses.
program for monitoring asset quality, ratings' integrity and credit process in the
Institution's credit portfolios including review of significant risk review reports and
Institution's trading activities and accounts, including the adoption or amendment of
appropriate policies and risk limits from time to time.
Asset – Liability Management
interest rate risk, liquidity risk, foreign exchange risk and similar risks relating to its
balance sheet and associated activities, including the adoption or amendment of
appropriate policies, risk limits and capital levels from time to time.
interest rate risk profile to ensure that the level of interest rate risk is within relevant
needs will be met and, at least annually, review the Institution's Liquidity
maintained in accordance with regulatory requirements and management directives.
Daylight Overdraft Limits
controls, policies and procedures; and credit policies and procedures in formulating a
sender net debit cap (i.e., the limit on the aggregate amount of risk that the Bank can
present to the payments system from daylight overdrafts or through participation in a
private large dollar network) and adopt a sender net debit cap.
Reports To The Full Board
Committee may deem appropriate, so that the Board is informed of the Committee's
DELEGATION TO SUBCOMMITTEE
The Committee may, in its discretion, delegate any portion of its duties and responsibilities to a
subcommittee of the Committee.
RESOURCES AND AUTHORITY
The Committee shall have the resources and authority appropriate to discharge its duties and
responsibilities under this charter. The Committee shall also have the authority to select, retain
and terminate outside counsel or other advisors, as it deems appropriate, and to approve the fees
and to determine the retention terms of such individuals, without seeking approval of the Board or
management, which fees shall be at the cost and expense of the Corporation.