>>
Thanks everyone for your feedback on the LOC retention.  And I agree that 
absent a specific citation, it is about balancing operational needs and 
any applicable statute of limitations.  BTW, the only reference to a cited 
source I found was to a Financial Institutions Record Retention Manual.
<<

Colorado Division of Banking, 3 CCR 701-10 AR15 (C),  International 
Department - Letters of Credit Applications:   6 years after payment in 
full; Letters of Credit Ledger, 6 years.
Florida, Statutes of Limitations,FS 95.11, (5)(c) Uniform Commercial 
Code--Letters of Credit, 1 year.
Missouri Code of State Regulations, 20 CSR 1140-2.140, Deposits-Official 
Checks and Drafts - Letters of credit and documents, 5 years.
North Carolina Administrative Code,  4 NCAC 3C.0903, INTERNATIONAL: 
Letters of Credit and Documents, 3 years after expiration.
Pennsylvania Insurance Notices and Bulletins, INB Bulletin 2968, 
Reinsurance Contracts (including records of settlements, trust accounts 
and letters of credit), 5 years from date of last financial examination.
Wisconsin Administrative Code, WAC DFI 9.01, Miscellaneous-Customer 
Services - Letters of credit applications, 20 years; Letter of Credit 
Ledger Accounts, 20 years.

FYI I left out the several state and federal citations that mentioned 
letters of credit but did not specify a retention period.

Gary Link 
Pittsburgh, PA
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