Record retention requirements.

CFR · 2024-01-01 · US · Title 12

(a) (b) (1) (2) (i) Whether such documentary material was generated or maintained in accordance with the covered financial company's own practices and procedures (including the document retention policies of the covered financial company) or pursuant to standards established by the covered financial company's regulators; (ii) Whether such documentary material is necessary for the Corporation to carry out its obligations as receiver for the covered financial company; and (iii) Whether there is a present or reasonably foreseeable evidentiary need for such documentary material by the Corporation as receiver for the covered financial company or the public. (3) (c) (i) Subject to a litigation hold imposed by the Corporation; (ii) Subject to a Congressional subpoena or relates to an ongoing investigation by Congress, the United States Government Accountability Office, or the Corporation's Inspector General; or (iii) An inherited record that the Corporation has determined is necessary for a present or reasonably foreseeable future evidentiary need of the Corporation or the public. (2) (3) (i) It will maintain the inherited record for at least six years from the date of the appointment of the Corporation as receiver for the covered financial company unless otherwise notified in writing by the Corporation; and (ii) Prior to destruction of such inherited record it will provide the Corporation with notice and the opportunity to cause the inherited record to be returned to the Corporatio

official document · source cfr-2024 · id 12:§ 380.14