CHAPTER V-FEDERAL HOME LOAN BANK BOARD SUBCHAPTER A-GENERAL Part 500 Functional organization and authority. 501 505 506 507 508 509 510 511 512 Operations. Rules regarding availability of information. Hearings. Promulgation of regulations and amendments. Rules of practice and procedure. Miscellaneous rules. Employee responsibilities and conduct. Rules for investigative proceedings and formal examination proceedings. 569a Receivers for insured institutions other than Federal Savings and Loan 581 SUBCHAPTER E-DISTRICT OF COLUMBIA SAVINGS AND LOAN Definitions. 582 Offices. SUBCHAPTER A-GENERAL PART 500-FUNCTIONAL AUTHORI- § 500.10 Assessments. Beginning with the assessment for the last half of calendar year 1972, each semiannual assessment under the provisions of subsection (b) of section 18 of the Federal Home Loan Bank Act, as amended, to meet the estimated expenses of the Federal Home Loan Bank Board (referred to in this subchapter as "Board") shall be made on the following basis: Each Federal Home Loan Bank will be assessed such amount as may be necessary to meet the Board's expenses, such assessment to be upon the several Banks in the same proportion as the total paid-in value of capital stock of the respective Banks bears to the total paid-in value of capital stock of all the Banks at the same point in time. For the assessment for the first half of a calendar year, total paid-in value of capital stock shall be determined from information contained in the reports of the respective Banks as of November 30; and for the assessment for the last half of the calendar year, such determination shall be made from information contained in the reports of the respective Banks as of May 31. (Secs. 17, 18, 47 Stat. 736, 737, as amended; AUTHORITY: The provisions of this Part 501 issued under sec. 17, 47 Stat. 736, as amended, secs. 402, 403, 48 Stat. 1256, as amended, 1257, as amended; 12 U.S.C. 1437, 1725, 1726, Reorg. Plan No. 3 of 1947; 3 CFR, 1943-1948 Comp. SOURCE: The provisions of this Part 501 appear at 23 F.R. 9878, Dec. 23, 1958, unless otherwise noted. § 501.1 Claims of the Board and the Federal Savings and Loan Insurance Corporation. (a) General. The Board and the Federal Savings and Loan Insurance Corporation shall attempt collection of all claims for money or property arising out of their respective activities in conformity with the Federal Claims Collection Act of 1966 (31 U.S.C. 951), and the Joint Regulations of the Attorney General and the Comptroller General thereunder (4 CFR Ch. II). This section does not apply to the Federal Savings and Loan Insurance Corporation in its capacity as conservator, receiver, or other legal custodian of a financial institution. (b) Compromise and termination of collection action. The Board may compromise, or suspend or terminate collection action on, any claims arising out of its activities, other than claims arising under section 5 of the Home Owners' Loan Act of 1933, as amended (12 U.S.C. 1464), not exceeding $20,000, exclusive of interest, in conformity with the Federal Claims Collection Act of 1966 and the Joint Regulations of the Attorney General and the Comptroller General thereunder. Claims of the Board arising under section 5 of the Home Owners' Loan Act of 1933, as amended, and claims of the Federal Savings and Loan Insurance Corporation, may be compromised and collection action may be suspended or terminated without regard to the amount of the claim. (c) Referral to General Accounting Office or for litigation. The Board and the Federal Savings and Loan Insurance Corporation may refer claims to the General Accounting Office, or to the Department of Justice for litigation, pursuant to the Federal Claims Collection Act of 1966 and the Joint Regulations of the Attorney General and the Comptroller General thereunder. (d) Delegation of authority; referral to Board. (1) The Comptroller of the Board is delegated the authority to collect all claims of the Board, and claims of the Federal Savings and Loan Insurance Corporation for insurance premiums and for the cost of examinations and audits, and as to the uncollected balance of any such claim not in excess of $5,000, exclusive of interest, said Comptroller is delegated the authority to compromise, suspends or terminate collection action, or refer the claim to the General Accounting Office, except that: (i) The advice of the General Counsel shall be obtained before any action, other than collection action, is taken by the Comptroller under this section, and (11) The concurrence of the Director or Deputy Director of the Office of Examinations and Supervision shall be obtained before any action, other than collection action, is taken by the Comptroller under this section concerning claims for the cost of examinations and audits. (2) The Director, Office of the Federal Savings and Loan Insurance Corporation, is delegated the authority to collect all claims of the Federal Savings and Loan Insurance Corporation other than for insurance premiums and for the cost of examinations and audits. As to the uncollected balance of any claim arising out of, pursuant to or in connection with action taken by the Federal Savings and Loan Insurance Corporation under section 406(f) of the National Housing Act (12 U.S.C. 1729(f)), or any other claim (except claims for insurance premiums and claims for the cost of examinations and audits) not in excess of $5,000, exclusive of interest, said Director is delegated the authority to compromise, suspend or terminate collection action on, or refer the claim to the General Accounting Office, except that the advice of the General Counsel of the Board shall be obtained before any action, other than collection action, is taken by the Director, Office of the Federal Savings and Loan Insurance Corporation, under this section. (3) The authority to refer claims of the Board and of the Federal Savings and Loan Insurance Corporation which do not exceed $5,000, exclusive of interest to the Department of Justice for litigation is delegated to the General Counsel. (4) Claims of the Board and the Federal Savings and Loan Insurance Corporation, other than claims arising out of, pursuant to or in connection with action taken by said Corporation under section 406 (f) of the National Housing Act, as amended (12 U.S.C. 1729 (f)), which exceed $5,000, exclusive of interest, and which are determined by the Director, Office of the Federal Savings and Loan Insurance Corporation, the Comptroller, or the General Counsel to be uncollectible in full, shall be referred to the Board with a recommendation as to whether the claim should be compromised, collection action suspended or terminated, or other action taken thereon. [33 F.R. 14102, Sept. 18, 1968] § 501.10 Officers as agents. For the following purposes, officers and employees of a Federal Home Loan Bank, when designated by the Board, shall be the agents of the Board and the Federal Savings and Loan Insurance Corporation and the counsel of the Bank shall render to said agents such legal services as may be necessary to enable them properly to carry out such duties: (a) It shall be the specific duty of said agents to give consideration to applications pertaining to organization of Federal savings and loan associations, conversions, and insurance of accounts by the Federal Savings and Loan Insurance Corporation, together with such supplemental information as may be available to them, and promptly to make comments and recommendations upon such applications. Said agents shall transmit such applications to the Board, together with their comments and recommendations thereon. Such comments and recommendations shall be signed by the agents favoring same, and any agent disagreeing therewith shall make a separate report which shall be forwarded at the same time. An agent shall forward to applicants advices of actions taken by the Board and the Federal Savings and Loan Insurance Corporation upon applications, and instructions and other communications from the Board and the Federal Savings and Loan Insurance Corporation. § 501.11 President as agent. For the following purposes, the President of each Federal Home Loan Bank shall be the agent of the Board and the Federal Savings and Loan Insurance Corporation and the counsel of the Bank shall render to said agent such legal services as may be necessary to enable him properly to carry out such duties: Provided, however, That when designated by the Board, some officer or employee of the Bank other than, or in addition to, the President, may act as agent of the Board and the Federal Savings and Loan Insurance Corporation. Said agent shall represent the Board and the Federal Savings and Loan Insurance Corporation in supervising Federal savings and loan associations and other institutions in the Bank's district which are insured by the Federal Savings and Loan Insurance Corporation. When, in his opinion, such action should be taken, he shall advise and en |