Issuance of directives.

CFR · 2024-01-01 · US · Title 12

(a) (b) (c) (2) Within 14 days of receipt of notification, the FDIC-supervised institution may file with the appropriate designated FDIC official(s) a written response, explaining why the directive should not be issued, seeking modification of its terms, or other appropriate relief. The FDIC-supervised institution's response shall include any information, mitigating circumstances, documentation, or other relevant evidence which supports its position, and may include a plan for attaining the minimum leverage capital requirement. (3)(i) After considering the FDIC-supervised institution's response, the appropriate designated FDIC official(s) shall serve upon the FDIC-supervised institution a written determination addressing the FDIC-supervised institution's response and setting forth the FDIC's findings and conclusions in support of any decision to issue or not to issue a directive. The directive may be issued as originally proposed or in modified form. The directive may order the FDIC-supervised institution to: (A) Achieve the minimum leverage capital requirement established by this regulation by a certain date; (B) Submit for approval and adhere to a plan for achieving the minimum leverage capital requirement; (C) Take other action as is necessary to achieve the minimum leverage capital requirement; or (D) A combination of the above actions. (ii) If a directive is to be issued, it may be served upon the FDIC-supervised institution along with the final determination. (4) Any FD

official document · source cfr-2024 · id 12:§ 324.5