Directives to take prompt corrective action.

CFR · 2024-01-01 · US · Title 12

(a) (2) (b) (1) A statement of the FDIC-supervised institution's capital measures and capital levels; (2) A description of the restrictions, prohibitions, or affirmative actions that the FDIC proposes to impose or require; (3) The proposed date when such restrictions or prohibitions would be effective or the proposed date for completion of such affirmative actions; and (4) The date by which the FDIC-supervised institution subject to the directive may file with the FDIC a written response to the notice. (c) (2) (i) An explanation why the action proposed by the FDIC is not an appropriate exercise of discretion under section 38; (ii) Any recommended modification of the proposed directive; and (iii) Any other relevant information, mitigating circumstances, documentation, or other evidence in support of the position of the FDIC-supervised institution regarding the proposed directive. (d) (1) Issue the directive as proposed or in modified form; (2) Determine not to issue the directive and so notify the FDIC-supervised institution; or (3) Seek additional information or clarification of the response from the FDIC-supervised institution or any other relevant source. (e) (f)

official document · source cfr-2024 · id 12:§ 308.201