The secretary of the Board
(or the secretary’s delegatee) is authorized:
(a) Procedure.
(1) Extension
of time period for public participation in proposed regulations. To extend, when appropriate under the Board’s Rules of Procedure
(12 CFR 262.2(a) and (b)), the time period for public participation
with respect to proposed regulations of the Board.
(2) Extension
of time period in notices, orders, rules, or regulations.
(i) To grant or deny requests to extend any time period in any notice,
order, rule, or regulation of the Board relating to filing information,
comments, opposition, briefs, exceptions, or other matters, in connection
with any application, request, or petition for the Board’s approval
authority, determination, or permission, or any other action by the
Board.
(ii) Notwithstanding
section 265.3, no person claiming to be adversely affected by any
such extension of time by the secretary shall have the right to petition
the Board or any Board member for review or reconsideration of the
extension.
(3) Conforming citations and references
in Board rules.
(i) To conform references to administrative
positions or units in Board rules with changes in the administrative
structure of the Board and in the government and agencies of the United
States.
(ii) To
conform citations and references in Board rules with other regulatory
or statutory changes adopted or promulgated by the Board or by the
government or agencies of the United States.
(4) Technical corrections in Board rules and regulations. To make,
with the concurrence of the general counsel, technical corrections,
such as spelling, grammar, construction, and organization (including
making regular updates that are required by law and/or calculated
via a formula prescribed by law, removal of obsolete provisions, and
consolidation of related provisions), to the Board’s rules, regulations,
orders, and other records of Board action.
(5) Procedural
motions in administrative cases pending before the Board. To
grant or deny procedural motions arising after an administrative case
has been forwarded to the Board for final decision.
8-106.1
(b) Availability of information.
(1) Freedom of Information Act requests. To make available, upon
request, information in Board records and consider requests for confidential
treatment of information in Board records under the Freedom of Information
Act (5 U.S.C. 552) and under the Board’s Rules Regarding Availability
of Information (12 CFR part 261).
(2) Review of
denial of access to Board records; Freedom of Information Act and
Privacy Act. To review and determine an appeal of denial of access
to Board records under the Freedom of Information Act (5 U.S.C. 552),
the Privacy Act (5 U.S.C. 552a), and the Board’s rules regarding such
access (12 CFR parts 261 and 261a, respectively).
(3) File reports
of rulemakings with Congress and the Government Accountability Office. To file reports of rulemakings with Congress and the Government
Accountability Office pursuant to the Congressional Review Act (5
U.S.C. 801 et seq.).
8-106.2
(c) Bank holding companies; savings and loan holding
companies; change in bank control; mergers.
(1) Reports on
competitive factors in bank mergers. To furnish reports on competitive
factors involved in a bank merger to the Comptroller of the Currency
and the Federal Deposit Insurance Corporation under the provisions
of the Federal Deposit Insurance Act (12 U.S.C. 1828(c)); the Bank
Holding Company Act (12 U.S.C. 1842(a), 1843(c)(8) and (j)); the Bank
Service Company Act (12 U.S.C. 1865(a) and (b)); the Change in Bank
Control Act (12 U.S.C. 1817(j)); and the Federal Reserve Act (12 U.S.C.
321 et seq., 601-604a, 611 et seq.).
(2) Reserve Bank
director interlocks. To take actions the Reserve Bank could take
except for the fact that the Reserve Bank may not act because a director,
senior officer, or principal shareholder of any bank holding company,
bank, savings and loan holding company, or company involved in the
transaction is a director of that Reserve Bank or branch of the Reserve
Bank.
(3) [Reserved].
(4) Savings and loan holding companies.
(i) To approve the establishment of a mutual holding company or a
subsidiary holding company of a mutual holding company pursuant to
section 10(o) of the Home Owners’ Loan Act (12 U.S.C. 1467a(o)) and
sections 239.3 and 239.11 of Regulation MM (12 CFR 239.3 and 239.11),
including issuing a charter, if the following conditions are met:
(A) The appropriate Reserve Bank and relevant divisions of the Board
recommend approval; and
(B) No significant policy issue is raised on which the Board has
not expressed its view.
(ii) To grant a request to deregister
as a savings and loan holding company pursuant to section 10(b)(6)
of the Home Owners’ Loan Act (12 U.S.C. 1467a(b)(6)) and section 238.4(d)
of Regulation LL (12 CFR 238.4(d)).
8-106.3
(d) International banking.
(1) Acquisition
of foreign company or U.S. company financing exports. To grant,
under sections 25 and 25A of the Federal Reserve Act (12 U.S.C. 601
and 604, and 611 et seq.) and section 4(c)(13) of the Bank
Holding Company Act (12 U.S.C. 1843(c)(13)) and the Board’s Regulations
K and Y (12 CFR parts 211 and 225), specific consent to the acquisition,
either directly or indirectly, by a member bank, an Edge corporation,
an agreement corporation, or a bank holding company, of stock of a
company chartered under the laws of a foreign country or a company
chartered under the laws of a state of the United States that is organized
and operated for the purpose of financing exports from the United
States, and to approve any such acquisition that may exceed the limitations
of section 25A of the Federal Reserve Act (12 U.S.C. 611a, 615(c),
and 619) based on the company’s capital and surplus, if all of the
conditions in paragraphs (d)(1)(i) through (iii) of this section are
met:
(i) The appropriate Reserve Bank and
all relevant divisions of the Board’s staff recommend approval;
(ii) No significant
policy issue is raised on which the Board has not expressed its view;
(iii) The acquisition
does not result, either directly or indirectly, in the bank, corporation,
or bank holding company acquiring effective control of the company,
except that this condition need not be met if:
(A) The company
is to perform nominee, fiduciary, or other services incidental to
the activities of a foreign branch or affiliate of the bank holding
company, or corporation; or
(B) The stock is being acquired from the parent bank, parent bank
holding company, subsidiary Edge corporation, or subsidiary agreement
corporation, as the case may be, and the selling entity holds the
stock with the consent of the Board pursuant to Regulation K or Y
(12 CFR parts 211 or 225), as applicable.
(2) [Reserved].
8-106.4
(e) Member banks.
(1) Waiver of
penalty for early withdrawals of time deposits. To permit depository
institutions to waive the penalty for early withdrawal of time deposits
under section 19(j) of the Federal Reserve Act (12 U.S.C. 371b) and
section 204.2 of Regulation D (12 CFR 204.2) if the following conditions
are met:
(i) The President declares an area of
major disaster or emergency area pursuant to section 301 of the Disaster
Relief Act of 1974 (42 U.S.C. 5141);
(ii) The waiver is limited to depositors
suffering disaster or emergency related losses in the officially designated
area; and
(iii)
The appropriate Reserve Bank and all relevant divisions of the Board’s
staff recommend approval.
(2) [Reserved].
8-106.5
(f) Location of institution. To determine
the Federal Reserve District in which an institution is located pursuant
to section 204.3(g)(2) of Regulation D (12 CFR 204.3(g)(2)) or section
209.2(c) of Regulation I (12 CFR 209.2(c)) if:
(1) The relevant Federal Reserve Banks
and the institution agree on the specific Reserve Bank in which the
institution should hold stock or with which the institution should
maintain reserve balances; and
(2) The agreed-upon location does not raise
any significant policy issues.
