(a) Chair. The Chair is authorized:
(1) Bank for
International Settlements. To appoint a first and second alternate
director to the board of directors of the Bank for International Settlements.
(2) Term Deposit Facility (TDF). To authorize
TDF test operations with maximum award amounts of up to $20 billion
and with maximum offering rates of up to 5 basis points over the interest
on excess reserves rate, to adjust the schedules and other terms and
conditions for TDF test operations as necessary, to approve additional
TDF test operations, to determine when TDF test operations should
offer term deposits with an early withdrawal feature, and to establish,
with respect to term deposits that are offered with an early withdrawal
feature, an early withdrawal penalty that includes forfeiture of all
interest on any term deposits withdrawn before the expiration of the
term plus an additional penalty of 75 basis points at an annual rate
applied to the principal over the entire term of the term deposit.
(3) Disclosures related to emergency lending programs. To approve:
(i) Periodic reports to Congress under
section 13(3)(C)(ii) of the Federal Reserve Act (12 U.S.C. 343(3)(C)(ii))
for the Bank Term Funding Program, Primary Dealer Credit Facility,
Money Market Liquidity Facility, Commercial Paper Funding Facility,
Paycheck Protection Program Liquidity Facility, Secondary Market Corporate
Credit Facility, Municipal Liquidity Facility, Term Asset-Backed Securities
Loan Facility, Main Street New Loan Facility, Main Street Expanded
Loan Facility, Main Street Priority Loan Facility, Nonprofit Organization
New Loan Facility, and Nonprofit Organization Expanded Loan Facility,
and to approve technical or minor changes to the scope of information
included in such reports; and
(ii) Seven-day reports to Congress under
section 13(3)(C)(i) of the Federal Reserve Act (12 U.S.C. 343(3)(C)(ii)).
(b) Chair of the Committee on Supervision and Regulation. The Chair
of the Committee on Supervision and Regulation is authorized:
(1) To act on requests for extensions of
state member banks’ and bank holding companies’ advanced approaches
first floor period start dates that are consistent with previous exemptions
approved by the Board and that do not raise additional significant
policy issues.
(2) [Reserved].
(c) Chair of
the Committee on Federal Reserve Bank Affairs. The Chair of the
Committee on Federal Reserve Bank Affairs is authorized to consider
and grant or deny requests from the Federal Reserve Banks for exceptions
to the Board’s policies on Federal Reserve Bank directors.
(d) Individual members. Any Board member designated by the Chair is authorized:
(1) Approval
of amendments to notice of charges or cease-and-desist orders. To approve (after receiving recommendations of the director of the
Division of Supervision and Regulation and the general counsel) amendments
to any notice, temporary order, or proposed order previously approved
by the Board in a specific formal enforcement matter (including a
notice of charges or removal notice) or any proposed or temporary
cease-and-desist order previously approved by the Board under section
8(b) and (c) of the Federal Deposit Insurance Act (12 U.S.C. 1818(b)
and (c)).
8-105.1
(2) Requests for permission to appeal rulings.
(i) To act,
when requested by the secretary, upon any request under section 263.10(e)
of the Board’s Rules of Practice for Hearings (12 CFR 263.10(e)) for
special permission to appeal from a ruling of the presiding officer
on any motion made at a hearing conducted under the rules, and if
special permission is granted, the merits of the appeal shall be presented
to the Board for decision.
(ii) Notwithstanding section 265.3,
the denial of special permission to appeal a ruling may be reviewed
by the Board only if a Board member requests a review within two days
of the denial. No person claiming to be adversely affected by the
denial shall have any right to petition the Board or any Board member
for review or reconsideration of the denial.
8-105.2
(3) Extension
of time period for final Board action. To extend for an additional
180 days the 180-day period within which final Board action is required
on an application pursuant to section 7(d) of the International Banking
Act (12 U.S.C. 3105(d)).
(e) Exigent circumstances. The Chair is authorized
to determine when an emergency situation exists for purposes of section
2(b)(2) of the Board’s Rules of Organization. If the Chair is unavailable
or unable to determine that an emergency situation exists, then the
Vice Chair is authorized to determine when an emergency situation
exists.
8-105.3
(f) Three-member Action
Committee. Any three Board members designated from time to time
by the Chair are authorized:
(1) Absence of
quorum. To act, upon certification by the secretary of the Board
of an absence of a quorum of the Board present in person, by unanimous
vote on any matter that the Chair has certified must be acted upon
promptly in order to avoid delay that would be inconsistent with the
public interest except for matters:
(i) Relating to rulemaking;
(ii) Pertaining principally
to monetary and credit policies; and
(iii) For which a statute expressly
requires the affirmative vote of more than three Board members.
(2) [Reserved].
(g) Reports
to Congress pursuant to the Small Business Regulatory Enforcement
Fairness Act of 1996. The Assistant to the Board, Congressional
Liaison Office, Division of Board Members, is authorized, in consultation
with the general counsel, to approve and submit the annual report
to Congress describing the status of the Board’s compliance with sections
212(a)(1) through (5) of the Small Business Regulatory Enforcement
Fairness Act of 1996 (5 U.S.C. 601 note), pursuant to section 212(a)(6)
of the Act.
