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CHAPTER 11-FEDERAL DEPOSIT

111—
INSURANCE CORPORATION

SUBCHAPTER A-PROCEDURE AND RULES OF PRACTICE

Page

Part 300 301 302

5

303 304 305 306 307 308 309 310

[Reserved]
Introductory ...............
Formulation and promulgation of rules and regu-

lations...............
Applications, requests, and submittals
Forms, instructions, and reports
Payment of insured deposits ...
Receiverships and liquidations
Voluntary termination of insured status
Rules of practice and procedures

................
Disclosure of information .............
Safeguarding personal information in Federal De-

posit Insurance Corporation Records........
Rules governing public observation of meetings of

the Corporation's Board of Directors....

5 6 20 26 26 28 32 52

61

311

66

SUBCHAPTER B-REGULATIONS AND STATEMENTS OF GENERAL

POLICY

71

325 326

327 328 329 330

71 78 85 87

Introductory
Minimum security devices and procedures for in-

sured nonmember banks.
Assessments ............
Advertisement of membership ........
Interest on deposits.........
Clarification and definition of deposit insurance

coverage ...
Insurance of trust funds

.....
Powers inconsistent with purposes of Federal de-

posit insurance law
Extension of corporate powers
Bank service arrangements..............
Securities of insured State nonmember banks........
Employee responsibilities and conduct
Unsafe and unsound banking practices...

102 107

331 332

333 334 335 336 337

108 108 109 110 242 253 Part 338 339 341 342

Page Fair housing .......

257 Loans in areas having special flood hazards............. 264 Registration of transfer agents.....

265 Applications for a stay or review of actions of bank clearing agencies ....

277 Insured State nonmember banks which are municipal securities dealers ...

278 Community reinvestment

287

343

345

SUBCHAPTER APROCEDURE AND RULES OF PRACTICE

PART 300—[RESERVED)

PART 302-FORMULATION AND

PROMULGATION OF RULES AND REGULATIONS

PART 301 INTRODUCTORY

Sec.
302.1 Notice.
302.2 Public participation.
302.3 Formulation of rules.
302.4 Petitions.
302.5 Effective date.
302.6 Exceptions.
302.7 Amendment and repeal.

AUTHORITY: Sec. 9, 64 Stat. 881; 12 U.S.C. 1819.

SOURCE: 15 FR 8628, Dec. 6, 1950, unless otherwise noted.

$ 301.1 Scope.

The rules contained in this subchapter are promulgated pursuant to the provisions of Subchapter II of Chapter 5 of Title 5, United States Code, the Federal Deposit Insurance Act (12 U.S.C. 1811-1831), and other applicable laws. In accordance with the provisions of section 552(a)(1) of Title 5, United States Code they state (1) the established places at which, the officers from whom, and the methods whereby, the public may secure information, make submittals or requests, or obtain decisions, (2) the general course and method by which the Corporation's functions are channeled and determined, including the nature and requirements of all formal and informal procedures available, and (3) rules of procedure, descriptions of forms available, or the places at which forms may be obtained, and instructions as to the scope and contents of all papers, reports, or examinations, except to the extent exempted by law. This subchapter also includes appropriate provisions with respect to rule making, adjudications, and hearings, as prescribed by law. A current description of the Corporation's central and field organization is separately published in the FEDERAL REGISTER. Proceedings by the Corporation within the meaning of this subchapter include:

(a) The formulation and promulgation of rules and regulations, including amendments thereto or the repeal thereof;

(b) The disposition of applications, requests, and submittals;

(c) Formal and informal hearings and adjudications. (Sec. 9. 64 Stat. 881; 12 U.S.C. 1819) (32 FR 9638, July 4, 1967, as amended at 36 FR 3112, Feb. 18, 1971)

$ 302.1 Notice.

General notice or proposed rule making, including amendments thereto or repeal thereof, will be published in the FEDERAL REGISTER, except as specified in § 302.6, or otherwise excepted by law. Such notice will include either the terms or substance of the proposed rule or a description of the subjects and issues involved, reference to the authority under which the rule is proposed, and a statement of the time, place, and nature of the public proceedings for making the rule.

8 302.2 Public participation.

Interested persons will be afforded an opportunity to participate in the making of any rule, except as specified in $ 302.6, or otherwise excepted by law, through the submission of written data, views, or arguments, unless the board of directors shall specifically provide an opportunity for the oral presentation thereof.

302.3 Formulation of rules.

After consideration of all relevant matter presented, the duly constituted committees will submit their recommendations to the board of directors and, in collaboration with appropriate Divisions, will prepare drafts of any proposed rules or amendments. The board of directors will take such action thereon as it deems appropriate and in any rule adopted will incorporate therein a concise general statement of its basis and purpose. (15 FR 8628, Dec. 6, 1950, as amended at 38 FR 14263, May 31, 1973)

$ 302.4 Petitions.

Any interested person may petition the Corporation for the issuance, amendment, or repeal of any rule by submitting such petition in writing together with a complete and concise statement of the petitioner's interest in the subject matter and the reasons why the petition should be granted. Such petition should be submitted to the Executive Secretary of the Corporation.

Sec. 303.3 Application by insured State non

member bank to move main office or

branch. 303.4 Application by insured State non

member bank to reduce or retire capital. 303.5 Application for conversion, merger,

consolidation, assumption, and sale of

asset transactions. 303.6 Application by insured State non

member bank to extend its corporate or

charter powers. 303.7 Application to continue or resume in

sured status. 303.8 Application for exempiion from or

exception to advertising requirements. 303.9 Other applications. 303.10 Procedure on applications. 303.11 Delegation of authority to act on

certain applications. 303.12 Applications where authority is not

delegated. 303.13 Other delegations of authority. 303.14 Application procedures.

AUTHORITY: Secs. 5, 6, 8, 9, 18, 19, 64 Stat. 876, 879, 881, 891, 893; 12 U.S.C. 1815, 1816, 1818, 1819, 1828, 1829.

(15 FR 8628, Dec. 6, 1950, as amended at 38 FR 14263, May 31, 1973)

302.5 Effective date.

Any rule issued by the Corporation will be published or served not less than thirty (30) days prior to the effective date thereof except as specified in $ 302.6 or otherwise excepted by law.

8 302.6 Exceptions.

Whenever the Corporation finds that notice of, and public participation in, rule making is impracticable, unnecessary, or contrary to the public interest, or there is good cause why the effective date of any rule should not be deferred for thirty (30) days, the provisions of $$ 302.1, 302.2, and 302.5 shall not apply; and any such rule when published will incorporate the finding and a brief statement of the reasons therefor.

§ 303.1 Application by nonmember bank'

for deposit insurance. Application for deposit insurance by an existing or proposed State nonmember bank should be filed with the Regional Director of the Federal Deposit Insurance Corporation Region in which the bank or proposed bank is or will be located. Any such application by an existing bank must be accompanied by separate applications for the consent of the Corporation to the continued operation of each branch which it proposes to continue to operate. Any such application by a proposed bank must be accompanied by a separate application for the consent of the Corporation to establish and operate each proposed branch. The appropriate forms of application and instructions for completing the same may be obtained upon request from the Regional Director of the Region in which the application originates. (See Part 304 of this title for list of forms and instructions.)

$ 302.7 Amendment and repeal.

The right to alter, amend, or repeal the whole or any part of any rule except as otherwise provided by law, is expressly reserved.

PART 303—APPLICATIONS, REQUESTS, AND SUBMITTALS

(32 FR 10556, July 19, 1967, as amended at 36 FR 1248, Jan. 27, 1971)

Sec. 303.1 Application by nonmember bank for

deposit insurance. 303.2 Application by insured State non

member bank to establish a branch.

"A nonmember bank is a bank which is not a member of the Federal Reserve System.

2

8 303.2 Application by insured State non- State nonmember bank (except a Dis

member bank to establish a branch. ? trict bank) should be filed with the Application by an insured State non

Regional Director of the Federal De. member bank (except a District bank)

posit Insurance Corporation Region in to establish and operate a new branch

which the bank is located. The approshould be filed with the Regional Di. priate form of application and instrucrector of the Federal Deposit Insur

tions for completing the same may be ance Corporation Region in which the obtained upon request from the Rebank is located. The appropriate form gional Director of the Region in which of application and instructions for the application originates. (See Part completing the same may be obtained 304 of this title for list of forms and upon request from the Regional Direc- instructions.) tor of the Region in which the applica

(32 FR 10556, July 19, 1967, as amended at tion originates. (See Part 304 of this

36 FR 1248, Jan. 27, 1971) title for list of forms and instructions.) (32 FR 10556, July 19, 1967, as amended at

8 303.5 Application for conversion, 36 FR 1248, Jan. 27, 1971; 36 FR 3112, Feb. merger, consolidation, assumption and 18, 1971)

sale of asset transactions. 8 303.3 Application by insured State non

(a) With noninsured bank or institumember bank to move main office or

tion. Application by an insured bank branch.

for the consent of the Corporation to

merge or consolidate with a nonin. Application for the consent of the

sured bank or institution, or to convert Corporation to move the main office

into a noninsured institution, or to or branch of an insured State nonmember bank (except a District bank)

assume liability to pay any deposits

made in, or similar liabilities of, any should be filed with the Regional Di.

noninsured bank or institution, or to rector of the Federal Deposit Insur

transfer assets to any noninsured bank ance Corporation Region in which the bank is located. The appropriate form

or institution in consideration of the

assumption of liability for any portion of application and instructions for

of the deposits made in such insured completing the same may be obtained

bank, together with copies of all agreeupon request from the Regional Direc

ments or proposed agreements relattor of the Region in which the applica

ing thereto, should be filed with the tion originates. (See Part 304 of this

Regional Director of the Federal Detitle for list of forms and instructions.)

posit Insurance Corporation Region in (32 FR 10556, July 19, 1967, as amended at which the insured bank is located. The 36 FR 1248, Jan. 27, 1971)

appropriate form of application and

instructions for completing the form, 8 303.4 Application by insured State non

as well as instructions concerning member bank to reduce or retire capi.

notice to depositors, may be obtained tal.

upon request from the office of said Application for the consent of the Regional Director. Corporation to the reduction in the (b) Conversion with diminution of amount, or retirement of any part, of capital or surplus. Application for the the common or preferred capital stock,

appropriate form of application and or retirement of any of the capital into an insured State nonmember notes or debentures, of an insured bank (except a District bank)—when

the conversion will result in the con2“The term 'branch' includes any branch verted bank's having less capital stock bank, branch office, branch agency, addi- or surplus than the converted bank at tional office, or any branch place of busi- the time of the shareholders' meeting ness located in any State of the United

approving such conversion-together States or in any Territory of the United States, Puerto Rico, Guam, American

with copies of the charter and/or artiSamoa, or the Virgin Islands at which de

cles of association of the converted posits are received or checks paid or money

bank, should be filed with the Regionlent." (Sec. 3(0) of the Federal Deposit In

al Director of the Federal Deposit Insurance Act, as amended (12 U.S.C. 1813(0)). surance Corporation Region in which

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