Procedures for reclassifying a state member bank based on criteria other than capital.

CFR · 2024-01-01 · US · Title 12

(a) ( ( (B) Any action pursuant to this paragraph (a)(1)(i) shall hereinafter be referred to as “reclassification.” (ii) (2) (i) A statement of the bank's capital measures and capital levels and the category to which the bank would be reclassified; (ii) The reasons for reclassification of the bank; (iii) The date by which the bank subject to the notice of reclassification may file with the Board a written appeal of the proposed reclassification and a request for a hearing, which shall be at least 14 calendar days from the date of service of the notice unless the Board determines that a shorter period is appropriate in light of the financial condition of the bank or other relevant circumstances. (3) (i) An explanation of why the bank is not in unsafe or unsound condition or otherwise should not be reclassified; (ii) Any other relevant information, mitigating circumstances, documentation, or other evidence in support of the position of the bank or company regarding the reclassification. (4) (5) (6) (7) (ii) The informal hearing shall be recorded, and a transcript shall be furnished to the bank upon request and payment of the cost thereof. Witnesses need not be sworn, unless specifically requested by a party or the presiding officer(s). The presiding officer(s) may ask questions of any witness. (iii) The presiding officer(s) may order that the hearing be continued for a reasonable period (normally five business days) following completion of oral testimony or argument to allow ad

official document · source cfr-2024 · id 12:§ 263.203