§ 500.3 The Federal saving and loan system. The Board is authorized under such rules and regulations as it may prescribe to provide for the organization, incorporation, examination, operation, and regulation of Federal savings and loan associations. Under this authority, the Board's functions include, but are not limited to, regulation of the corporate structure of such associations, regulation of the distribution of their earnings, regulation of their lending and other investment powers, acting upon their applications for facility offices (including branch offices, limited facilities, mobile facilities and satellite offices), the regulation of mergers, conversions, and dissolutions involving such associations, the appointment of conservators and receivers for such associations, and the enforcement of laws, regulations, or conditions against such associations or the officers or directors thereof by proceedings under section 5 of the Home Owners' Loan Act of 1933, as amended. [40 FR 12989, Mar. 24, 1975] § 500.4 The Federal Savings and Loan Insurance Corporation. The Federal Savings and Loan Insurance Corporation is under the direction of the Federal Home Loan Bank Board. The Corporation insures the accounts of all Federal savings and loan associations and of other building and loan, savings and loan, and homestead associations and cooperative banks that are eligible for insurance and the applications of which have been approved by the Corporation. The Corporation regulates and examines insured institutions within the authority conferred by Title IV of the National Housing Act and is authorized to enforce applicable laws, regulations, or conditions against insured institutions or the officers or directors thereof by proceedings under section 407 of the National Housing Act, as amended. The Corporation also regulates and supervises savings and loan holding companies pursuant to the provisions of section 408 of the National Housing Act, as amended. § 500.5 District of Columbia savings and loan associations. The Board exercises supervisory and regulatory authority over all building and loan or savings and loan associations and similar institutions of or doing business in or maintaining offices in the District of Columbia. Subpart B-General Organization § 500.10 The Board. The Board is composed of three members, not more than two of whom are members of the same political party. The members are appointed by the President with the advice and consent of the Senate for four year terms. The Chairman is designated by the President and is the chief executive officer of the Board. Executive and administrative functions of the Board were transferred to the Chairman by Reorganization Plan No. 6 of 1963. The Board is assisted by a staff that includes ten Offices. [39 FR 45257, Dec. 31, 1974] § 500.11 Secretary to the Board. The Secretary to the Board is responsible for the secretarial functions of the Federal Home Loan Bank Board and the Federal Savings and Loan Insurance Corporation and has custody of the records of the Board and of the Corporation. The Secretary to the Board is responsible for the preparation and maintenance of the Minute Record of all official actions of the Board, for the authentication of documents and for certifications. The Office of the Secretary provides general record services for the Board through the Files and Docket Section, which is under the direction and supervision of the Secretary to the Board. The Secretary to the Board is Liaison Officer to the Federal Register. [40 FR 59422, Dec. 24, 1975] § 500.12 Congressional Liaison Officer. The Congressional Liaison Officer is responsible to the Chairman for ensuring appropriate co-ordination and communication with Congress. § 500.13 Director of the Office of Management Systems and Administration. The Director of the Office of Management Systems and Administration is the Board's Chief Administrative Officer and advisor regarding management and organizational matters, and as such is responsible for all management, organizational and administrative matters affecting Board offices and the Federal Savings and Loan Insurance Corporation. The responsibility includes the supervision and administration of the office which is divided into five divisions: The Financial Management Division, the Administration and Methods Division, the Personnel Management Division, the Information Systems Division, and the Management Systems Division. (a) The Financial Management Division is responsible for the administration and management of the internal financial operations of the Board, the headquarters of the Office of Examinations and Supervision, and the Federal Savings and Loan Insurance Corporation, including budgeting, accounting, receipt, and disbursement of funds; control, processing, and payment of expenses; and maintenance of pay and leave records. This Division is also responsible for preparation of the Board's annual budget submissions to the Office of Management and Budget and to the Congress, and for supervision of field accounting operations for the Federal Savings and Loan Insurance Corporation. (b) The Administration and Methods Division is responsible for contracting and procurement operations; purchasing and supply procedures and implementation; receiving, sorting and distributing mail; safety and security programs; maintenance; transportation; acquisition and allocation of space; and other housekeeping activities for the Board. The Division operates a printing and reproduction plant as authorized by the Congressional Joint Committee on Printing. The Division also has responsibility for the Board's emergency planning program and for assuring relocation and continuity of operations in the event of an emergency. (c) The Personnel Management Division is responsible for development and execution of the personnel management program of the Board. The program includes position management; recruitment, placement and staffing; position classification and wage administration; employee development, career counseling and training; employee relations; labormanagement relations; health insurance, life insurance and retirement benefits; and incentive awards. The Director of the Personnel Management Division is also responsible for carrying out the purposes of Executive Order No. 10450, as amended, as Personnel Security Officer of the Board, and for acting as agency liaison to the Civil Service Commission on all personnel matters of interest to the Commission. (d) The Information Systems Division compiles and distributes information essential in measuring the operations of the members of the Federal Home Loan Bank System, as well as that information necessary to the internal operations of the Board itself. The Division is responsible for the planning, design, programming, operation, and maintenance of Electronic Data Processing systems for the Board and for furnishing technical advice and assistance to other Offices and Divisions in connection with Electronic Data Processing operations. (e) The Management Systems Division assists management in achieving effective, efficient, and economical operation of the Board, Federal Home Loan Banks, Federal Savings and Loan Insurance Corporation, and the Office of Finance. To accomplish these results, the Division conducts financial, operational, and management audits; performs special studies of management, systems, and procedural problems, and provides management training and organizational development programs. The Division is also responsible for operating the paperwork management programs required by the National Archives Record Service, General Services Administration. [38 FR 19017, July 17, 1973, as amended at 39 FR 45258, Dec. 31, 1974; 40 FR 59422, Dec. 24, 1975; 41 FR 55858, Dec. 23, 1976] § 500.14 Director of the Office of Economic Research. The Director of the Office of Economic Research, as principal economic adviser to the Board, is responsible for design and supervision of economic analysis in the areas of general economic developments, capital and mortgage markets, housing, and the savings and loan industry and competing financial intermediaries, as well as matters relating to legislation, regulation, and policies of the Board. The Director's responsibilities also include: developing and maintaining various research, statistical, and econometric programs to gather and keep current information relating to the savings and loan industry; working with other agencies through interagency committees; participating in research and policy projects with the Federal Home Loan Banks; providing liaison with public and private organizations; preparing articles and statistical tables for publication; overseeing the Board's contract with the Agency for International Development and the Federal Home Loan Banks' participation in the AID Housing Guarantee Program; providing research support and advice to Board Offices; and acting as official economic spokesman for the Board. [40 FR 59423, Dec. 24, 1975] § 500.16 Director of the Office of Communications. The Director of the Office of Communications is responsible for the communication of Board actions and policy to the public and news media and for the preparation of responses to inquiries of a general nature respecting such actions and policy. The Management Information Center is maintained as a part of this Office. [39 FR 45258, Dec. 31, 1974] § 500.17 The General Counsel. The General Counsel is the chief legal officer of the Board and has, among other functions, those set forth below. He is responsible for the representation of the Board and the Federal Savings and Loan Insurance Corporation in judicial proceedings in which the Board or the Corporation is involved as a party or as amicus curiae and in administrative proceedings under the Federal Home Loan Bank Act, the Home Owners' Loan Act of 1933, and Title IV of the National Housing Act. He is responsible for advising the Board with respect to interpretations involving questions of law, for the preparation of legislation submitted by the Board to Congress, for the preparation of Board comments to Congress upon pending legislation, and for the preparation of regulations. He is also responsible for dealing with general problems arising under the Administrative Procedure Act and for dealing with legal problems arising under applications to the Board and the Federal Savings and Loan Insurance Corporation. The Office of the General Counsel has two Deputy General Counsels and seven Divisions, as follows: The Compliance Division, the General Division, the Legislation Division, the Litigation Division, the Opinions Division, the Regulations Division and the Securities Division. [39 FR 45258, Dec. 31, 1974] § 500.18 Director of the Office of Examinations and Supervision. The Director of the Office of Examinations and Supervision is responsible for the performance of the responsibilities of the Board and the Federal Savings and Loan Insurance corporation with respect to examination and supervision of Federal savings and loan associations under the Home Owners' Loan Act of 1933 and of State-chartered insured institutions, savings and loan holding companies, and subsidiaries of savings and loan holding companies under Title IV of the National Housing Act. The Director is also responsible for advising the Board with respect to matters of policy decision, legislation, and regulation to which his functions of supervision and examination are related. The Director is responsible for management of the examination process and development and improvement of examination techniques and for the direction of supervisory and enforcement activities of the staff and agents of the Board and the Federal Savings and Loan Insurance Corporation. This Office supervises the security programs of insured institutions required by the Bank Protection Act of 1968 and enforcement of the Truth in Lending Act, the Fair Credit Reporting Act, the Currency and Foreign Transactions Reporting Act, the Equal Credit Opportunity Act, the Real Estate Settlement Procedures Act, the Flood Disaster Protection Act, the Civil Rights Act of 1968, and the Home Mortgage Disclosure Act of 1975. [41 FR 55859, Dec. 23, 1976] § 500.19 Director of the Office of Industry Development. The Director of the Office of Industry Development is responsible for processing, review, and evaluation of certain applications to the Board and the Federal Savings and Loan Insurance Corporation, except for applications which are approved by another agent or officer of the Board pursuant to delegated authority. Applications for which the Director is responsible concern the following matters: permission to organize a Federal savings and loan association; facility offices (including regular branch offices, limited facility branch offices, satellite offices, and mobile facilities) of existing Federal savings and loan associations; insurance of accounts; conversion from Federal to State or from State to Federal charter; membership in the Federal Home Loan Bank System; mergers involving a Federal savings and loan association; voluntary dissolution of a Federal savings and loan association; increase in accounts of an insurable type through merger, consolidation, or purchase of bulk assets; investment in a service corporation by a Federal savings and loan association; change in office location; investment in an office build ing; waiver or modification of a condition for insurance of accounts or issuance of a Federal charter; release of pledged savings accounts or escrowed stock; extension of a lending area; approval of amendments to charter, bylaws, or security forms; approval or disapproval of marketable certificates of deposits with the concurrence of the Office of the General Counsel; permission to issue subordinated debt securities; electronic fund transfer systems; and other applications for which the Director of this Office may be assigned responsibility. The Director is also responsible for planning and coordinating new programs to stimulate development of the savings and loan industry by encouraging financially sound restructuring. Further, it is the responsibility of the Director to coordinate inter-office programs in regard to development, extension, and reporting of electronic fund transfer systems. [41 FR 55859, Dec. 23, 1976] § 500.20 Director of the Office of the Federal Savings and Loan Insurance Corporation. The Director of the Office of the Federal Savings and Loan Insurance Corporation is responsible for advising the Board with respect to policies and operations of the Corporation. He is responsible for preservation of the integrity and fiscal soundness of the insurance fund in order to effect prompt settlement of all insurance obligations. Administration of this responsibility is accomplished through the Office's four divisions: (a) The Insurance Division is responsible for payment in cash of all insured savings as promptly as possible in the event of a default of an insured savings and loan association. The Division identifies, develops, and employs effective alternative measures for prompt settlement of insurance obligations. (b) The Problem and Rehabilitation Division is responsible for maintaining a high level of confidence on the part of the savings public in the industry's integrity and fiscal soundness. In coordination with the Office of General Counsel and the Office of Examinations and Supervision, the Division develops and implements plans of financial assistance to prevent default of insured institutions. (c) The Financial Assistance Division is responsible for effective administration of the FSLIC's financial assistance agreements and prudent management of the liquidation of its contingent liabilities under these agreements at the earliest opportunity. The Division is also responsible for operational and financial audits of all insurance settlement actions by the FSLIC. (d) The Asset Management Division is responsible for directing liquidation of the assets of FSLIC administered receiverships and for liquidation of Corporation-owned assets through marketing techniques designed to facilitate maximum recoveries of FSLIC funds. [40 FR 59423, Dec. 24, 1975] § 500.21 Director of the Office of the Federal Home Loan Banks. The Director of the Office of the Federal Home Loan Banks is responsible for reviewing the activities of the Banks, for supervising and co-ordinating their operating procedures to ensure conformity with applicable laws and Board regulations and policies, and for arranging annual audits of each of the Banks. The Director is responsible for establishing standards of accounting, reporting, and financial analysis for the Banks and for providing advice and assistance to the Banks. He is responsible for formulating policy recommendations and regulatory changes affecting the Bank System and for making recommendations concerning such matters as budgets and salary levels. The Director is responsible for conducting elections of elected directors and for identifying and recommending the appointment of appointed directors of each Federal Home Loan Bank. The Director serves on the Credit and Investment Committee and on the Steering Committee of the Conference of Federal Home Loan Bank Presidents. [41 FR 55859, Dec. 23, 1976] § 500.22 Director of the Office of Housing and Urban Affairs. The Director of the Office of Housing and Urban Affairs is responsible for advising the Board on housing, urban problems, and minority affairs and for recommending policies pertaining thereto. This Office develops, implements, and evaluates programs to encourage housing investment and rehabilitation in older urban neighborhoods, prevent discrimination in lending and employment by the savings and loan industry, and assist minority owned or operated savings and loan associations which have Federal charters or insurance of accounts by the Federal Savings and Loan Insurance Corporation. The Office provides assistance to any individual in preparing a request for review of a refusal to disclose or amend a record maintained by the Board containing personal information pertaining to such individual. [41 FR 55859, Dec. 23, 1976] Subpart C-Procedures 500.30 General statement concerning procedures and forms. (a) Rules and procedures of the Board and the Federal Savings and Loan Insurance Corporation are published in Chapter V of Title 12 of the Code of Federal Regulations and in supplementary material published in the Federal Register. The statutes administered by the Board and the rules and regulations promulgated pursuant to such statutes prescribe the course and method of the formal procedures to be followed in proceedings of the Board or the Federal Savings and Loan Insurance Corporation. These are supplemented where practicable by informal procedures designed to aid the public and facilitate the execution of the Board's functions. The informal procedures of the Board consist principally in the rendering of advice and assistance to members of the public dealing with the Board. Opinions expressed by members of the staff do not constitute an official expression of the views of the Board, but do represent views of persons working with the provisions of the statute or regulation involved. (b) Information with respect to procedures, forms, and instructions of the Board and the Federal Savings and Loan Insurance Corporation is available to the public at the headquarters of the Board or at the offices of the Federal Home Loan Banks. Forms of concern to the public consist principally of periodic financial reports and of applications to the Board or the Federal Savings and Loan Insurance Corporation. The Board and the Federal Savings and Loan Insurance Corporation may from time to time require the completion by individuals or institutions of miscellaneous forms, questionnaires, reports, or other papers. In each instance, the individual or institution is given actual and timely notice of the scope and contents of the papers in question. § 500.31 Forms. (a) The following forms, which are available at the offices of agents of the Board and the Federal Savings and Loan Insurance Corporation at the Federal Home Loan Banks, shall be used for the purposes indicated. (1) Forms with permanent numbers, excepting Savings and Loan Holding Company forms in the H series: Form 93 94 107 107A.. 138 ------ 138 (IS) 139-- Confidential Report of Security Confidential Report of Crimes Monthly Report of Selected Supplements to Monthly Report (Sample of Insured Associations) Application for Permission to Outline of Information to be 140------- Application for Insurance of Accounts (State-chartered applicant) 140 (IS). 141... - Outline of Information to be Submitted in support of an Application for Insurance of Accounts or a Request for a Commitment to Insure Ac counts of a State-chartered institution Request for a Commitment to Insure Accounts (Statechartered institution) 142------- Proposed Operating Budget (Insured institution) 154------- Semiannual report: Interest/ Dividend Rates and Savings Account Structure (Insured Institutions) |