5 CFR 2640.203(h);
effective January 17, 1997
8-175
5 CFR, PART 2640, SUBPART B— EXEMPTIONS PURSUANT TO 18 USC 208(b)(2)
SECTION 2640.203—Miscellaneous
Exemptions
(h) Directors of Federal Reserve Banks. A director of a Federal
Reserve Bank or a branch of a Federal Reserve Bank may participate
in the following matters, even though they may be particular matters
in which he, or any other person specified in section 208(a), has
a disqualifying financial interest:
(1) establishment of rates to be charged
for all advances and discounts by Federal Reserve Banks;
(2) consideration of monetary
policy matters, regulations, statutes and proposed or pending legislation,
and other matters of broad applicability intended to have uniform
application to banks within the Reserve Bank district;
(3) approval or ratification
of extensions of credit, advances or discounts to a depository institution
that has not been determined to be in a hazardous financial condition
by the President of the Reserve Bank; or
(4) approval or ratification of extensions
of credit, advances or discounts to a depository institution that
has been determined to be in a hazardous financial condition by the
president of the Reserve Bank, provided that the disqualifying financial
interest arises from the ownership of stock in, or service as an officer,
director, trustee, general partner or employee, of an entity other
than the depository institution, or its parent holding company or
subsidiary of such holding company.
