(a) Disclosure of supervisory information to foreign supervisors. Notwithstanding any other provision of law, the Board, Comptroller
of the Currency, Federal Deposit Insurance Corporation, and Director
of the Office of Thrift Supervision may disclose information obtained
in the course of exercising supervisory or examination authority to
any foreign bank regulatory or supervisory authority if the Board,
Comptroller, Corporation, or Director determines that such disclosure
is appropriate and will not prejudice the interests of the United
States.
(b) Requirement
of confidentiality. Before making any disclosure of any information
to a foreign authority, the Board, Comptroller of the Currency, Federal
Deposit Insurance Corporation, and Director of the Office of Thrift
Supervision shall obtain, to the extent necessary, the agreement of
such foreign authority to maintain the confidentiality of such information
to the extent possible under applicable law.
(c) Confidential information received from foreign
supervisors.
(1) Except as provided in paragraph (3),
a Federal banking agency may not be compelled to disclose information
received from a foreign regulatory or supervisory authority if—
(A) the Federal banking agency determines that the foreign regulatory
or supervisory authority has, in good faith, determined and represented
in writing to such Federal banking agency that public disclosure of
the information would violate the laws applicable to that foreign
regulatory or supervisory authority; and
(B) the relevant Federal banking agency
obtained such information pursuant to—
(i) such procedures as the
Federal banking agency may establish for use in connection with the
administration and enforcement of Federal banking laws; or
(ii) a memorandum of understanding
or other similar arrangement between the Federal banking agency and
the foreign regulatory or supervisory authority.
(2) For purposes
of section 552 of title 5, United States Code, this subsection shall
be treated as a statute described in subsection (b)(3)(B) of such
section.
(3) No provision
of this section shall be construed as—
(A) authorizing any
Federal banking agency to withhold any information from any duly authorized
committee of the House of Representatives or the Senate; or
(B) preventing any Federal
banking agency from complying with an order of a court of the United
States in an action commenced by the United States or such agency.
(4) For purposes of this subsection, the term “Federal banking agency”
means the Board, the Comptroller of the Currency, the Federal Deposit
Insurance Corporation, and the Director of the Office of Supervision.
[12
USC 3109. As added by act of Dec. 19, 1991 (105 Stat. 2294) and amended
by act of Oct. 13, 2006 (120 Stat. 1990).]
