(a) Effective date of determination of capital category. A member
bank shall be deemed to be within a given capital category for purposes
of section 38 of the FDI Act and this subpart as of the date the bank
is notified of, or is deemed to have notice of, its capital category,
pursuant to subsection (b).
(b) Notice of capital category. A member bank
shall be deemed to have been notified of its capital levels and its
capital category as of the most recent date—
(1) a Report of Condition and Income (“call
report”) is required to be filed with the Board;
(2) a final report of examination is delivered
to the bank; or
(3)
written notice is provided by the Board to the bank of its capital category
for purposes of section 38 of the FDI Act and this subpart or that
the bank’s capital category has changed as provided in paragraph (c)
of this section or section 208.43(c) of this part.
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(c) Adjustments to reported capital levels
and capital category.
(1) Notice of
adjustment by bank. A member bank shall provide the Board with
written notice that an adjustment to the bank’s capital category may
have occurred no later than 15 calendar days following the date that
any material event has occurred that would cause the bank to be placed
in a lower capital category from the category assigned to the bank
for purposes of section 38 and this subpart on the basis of the bank’s
most recent call report or report of examination.
(2) Determination
by the Board to change capital category. After receiving notice
pursuant to paragraph (c)(1) of this section, the Board shall determine
whether to change the capital category of the bank and shall notify
the bank of the Board’s determination.
