Procedures for reclassifying an FDIC-supervised institution 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 be referred to in this section as (ii) (2) (i) A statement of the FDIC-supervised institution's capital measures and capital levels and the category to which the FDIC-supervised institution would be reclassified; (ii) The reasons for reclassification of the FDIC-supervised institution; and (iii) The date by which the FDIC-supervised institution subject to the notice of reclassification may file with the FDIC 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 FDIC determines that a shorter period is appropriate in light of the financial condition of the FDIC-supervised institution or other relevant circumstances. (3) (i) An explanation of why the FDIC-supervised institution is not in an unsafe or unsound condition or otherwise should not be reclassified; and (ii) Any other relevant information, mitigating circumstances, documentation, or other evidence in support of the position of the FDIC-supervised institution regarding the reclassification. (4) (5) (6) (7) (ii) The informal hearing shall be recorded, and a transcript shall be furnished to the FDIC-supervised institution 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 o

official document · source cfr-2024 · id 12:§ 308.202