What does 12 CFR 9 require from a national bank regarding a written policy?

12 CFR 9 establishes requirements for national banks in the realm of fiduciary activities, which includes the management and investment of fiduciary funds. Specifically, the regulation mandates that national banks develop a written investment policy that governs how fiduciary funds are invested, ensuring that these activities are conducted in a prudent and compliant manner.

The requirement for a written investment policy encompasses various aspects, including guidelines for handling short-term investments, which are crucial for managing liquidity and achieving appropriate returns on fiduciary assets. This policy is essential for safeguarding the interests of the beneficiaries and maintaining regulatory compliance. Moreover, a well-defined investment strategy aids in minimizing risks associated with fiduciary investments.

In light of this context, focusing on the investment of fiduciary funds, particularly addressing short-term investments as outlined in the chosen answer, is paramount for a national bank's operations under 12 CFR 9. Other options, while relevant to different aspects of financial oversight and management, do not specifically respond to the key requirement for a written investment policy regarding fiduciary funds.