12 CFR 4.31 – Purpose and scope
(a) Purpose. The purposes of this subpart are to:
Terms Used In 12 CFR 4.31
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. Source: OCC
- Freedom of Information Act: A federal law that mandates that all the records created and kept by federal agencies in the executive branch of government must be open for public inspection and copying. The only exceptions are those records that fall into one of nine exempted categories listed in the statute. Source: OCC
- Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
- Testimony: Evidence presented orally by witnesses during trials or before grand juries.
(1) Afford an orderly mechanism for the OCC to process expeditiously requests for non-public OCC information; to address the release of non-public OCC information without a request; and, when appropriate, for the OCC to assert evidentiary privileges in litigation;
(2) Recognize the public’s interest in obtaining access to relevant and necessary information and the countervailing public interest of maintaining the effectiveness of the OCC supervisory process and appropriate confidentiality of OCC supervisory information;
(3) Ensure that the OCC’s information is used in a manner that supports the public interest and the interests of the OCC;
(4) Ensure that OCC resources are used in the most efficient manner consistent with the OCC’s statutory mission;
(5) Minimize burden on national banks, Federal savings associations, the public, and the OCC;
(6) Limit the expenditure of government resources for private purposes; and
(7) Maintain the OCC’s impartiality among private litigants.
(b) Scope. (1) This subpart applies to requests for, and dissemination of, non-public OCC information, including requests for records or testimony arising out of civil lawsuits and administrative proceedings to which the OCC is not a party and the release of non-public OCC information without a specific request. Lawsuits and administrative proceedings to which the OCC is not a party include proceedings in which a Federal agency is a party in opposition to the private requester.
(2) This subpart does not apply to:
(i) A request for a record or testimony in a proceeding in which the OCC is a party; or
(ii) A request for a record that is required to be disclosed under the Freedom of Information Act (FOIA) (5 U.S.C. § 552), as described in § 4.12.
(3) A request for a record or testimony made by the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, a government agency of the United States or a foreign government, a state agency with authority to investigate violations of criminal law, or a state bank or state savings association regulatory agency is governed solely by § 4.37(c).
(4) For purposes of §§ 4.35(a)(1), 4.36(a) and 4.37(c) of this part, the OCC’s decision to disclose records or testimony involving a Suspicious Activity Report (SAR) filed pursuant to the regulations implementing 12 U.S.C. § 5318(g), or any information that would reveal the existence of a SAR, is governed by 12 CFR 21.11(k).
(5) This subpart does not apply to requests for non-public information filed with the Office of Thrift Supervision (OTS) before July 21, 2011. These requests are subject to the rules of the OTS in effect on July 20, 2011.