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FINANCIAL STABILITY OVERSIGHT COUNCIL

12 CFR Part 1301

Revision of Freedom of Information Act Regulations

AGENCY: Financial Stability Oversight Council.

ACTION: Final rule.

SUMMARY: This rule makes revisions to the regulations of the Financial Stability Oversight 

Council (the “Council”) under the Freedom of Information Act (“FOIA”) as required by the

FOIA Improvement Act of 2016.

DATES: Effective date: [INSERT DATE 30 DAYS AFTER PUBLICATION IN THE 

FEDERAL REGISTER]. 

FOR FURTHER INFORMATION CONTACT: Eric A. Froman, Executive Director, 

Financial Stability Oversight Council, U.S. Treasury Department, (202) 622-1942; Stephen T. 

Milligan, Attorney-Advisor, U.S. Treasury Department, (202) 622-4051.

SUPPLEMENTARY INFORMATION: On June 30, 2016, the President signed into law the 

FOIA Improvement Act of 2016, Pub. L. No. 114-185, 130 Stat. 538 (2016). On November 17, 

2016, the Council adopted an interim final rule implementing changes mandated by the statute.

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The Council found that good cause existed, pursuant to 5 U.S.C. 553(b), that notice and public 

comment on the rulemaking would be unnecessary and contrary to the public interest because the 

 1 81 FR 85402 (Nov. 28, 2016).
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revisions to the Council’s FOIA regulations were limited to those mandated by the FOIA 

Improvement Act of 2016 and the Council was not exercising any discretion in issuing these 

revisions. While the interim final rule was effective immediately upon publication, the Council 

invited public comment on the interim final rule during a sixty-day period and stated it would 

consider all comments received.

After further consideration of the rule, and in order to clarify certain provisions and 

reflect developments in case law, the Council is making certain changes in issuing this final rule. 

The final rule revises sections 1301.12(c)(2)(ii) and 1301.12(d)(2) to conform to a recent 

decision of the U.S. Court of Appeals for the District of Columbia Circuit addressing the 

“educational institution” fee category. See Sack v. Dept. of Defense, 823 F.3d 687 (D.C. Cir. 

2016). Specifically, the definition of “educational institution” is revised to reflect the holding in 

Sack that students who make FOIA requests in furtherance of their coursework or other schoolsponsored activities may qualify under this requester category, and the requirement that such a 

requester show that the request is made under the auspices of the educational institution is 

replaced with a requirement that the requester show that the request is made in connection with 

the requester’s role at the educational institution. 

In addition, the rule revises section 1301.11(b) to provide that an appeal of a denial of 

expedited processing must be made within ninety days of the date of the initial determination to 

deny expedited processing, rather than within ten days as was provided in the interim final rule, 

in order to conform this provision to the FOIA Improvement Act of 2016. The rule also revises 

section 1301.12(e) to clarify that, in conformance with FOIA, the Council may charge 

duplication fees to educational or noncommercial scientific institution requesters or 

representatives of the news media unless it fails to comply with the applicable administrative
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time limits in the circumstances outlined in that section. Finally, the rule eliminates section 

1301.12(g)(5), regarding the treatment of administrative time limits in certain circumstances 

because sections 1301.7(d) and 1301.12(g)(1)-(4) sufficiently address those circumstances. 

One commenter asserted that the 15 cent per page duplication fee was too high. The 

Council has reassessed the duplication fee and has determined, in accordance with FOIA, that 8 

cents per page reflects the direct costs of duplication. The Council has revised the fee provided 

for in section 1301.12(b)(1)(i) accordingly. 

The Council also received a comment letter from the National Archives and Records 

Administration (“NARA”). NARA recommended that the Council clarify that requesters are 

required to be notified of the availability of dispute resolution services in the event that no 

records responsive to the request are located; that requirement is provided for in section 

1301.8(b)(4). As requested by NARA, the Council has also added the contact information for 

NARA’s Office of Government Information Service to the Council’s website at 

https://www.treasury.gov/initiatives/fsoc/Pages/Contact-Us.aspx.

Procedural matters

1. Regulatory Flexibility Act

Because no notice of proposed rulemaking was required, the provisions of the Regulatory 

Flexibility Act (5 U.S.C. 601 et seq.) do not apply.

2. Executive Order 12866

This rule is not a significant regulatory action as defined in section 3.f of Executive Order 

12866. 

List of Subjects in 12 CFR Part 1301

Freedom of Information
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Financial Stability Oversight Council

Authority and Issuance

For the reasons set forth in the preamble, the Financial Stability Oversight Council 

amends part 1301 to 12 CFR chapter XIII to read as follows: 

PART 1301 – FREEDOM OF INFORMATION

Sec. 

1301.1 General.

1301.2 Information made available.

1301.3 Publication in the Federal Register.

1301.4 Public inspection.

1301.5 Requests for Council records.

1301.6 Responsibility for responding to requests for Council records.

1301.7 Timing of responses to requests for Council records.

1301.8 Responses to requests for Council records.

1301.9 Classified information.

1301.10 Requests for business information provided to the Council.

1301.11 Administrative appeals and dispute resolution. 

1301.12 Fees for processing requests for Council records.

Authority: 12 U.S.C. 5322; 5 U.S.C. 552

§ 1301.1 General.

This subpart contains the regulations of the Financial Stability Oversight Council (the 

“Council”) implementing the Freedom of Information Act (“FOIA”), 5 U.S.C. 552, as amended. 

These regulations set forth procedures for requesting access to records maintained by the 

Council. These regulations should be read together with the FOIA, which provides additional 

information about this topic. 

§ 1301.2 Information made available.
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(a) General. The FOIA provides for access to records developed or maintained by a 

Federal agency. The provisions of the FOIA are intended to assure the right of the public to 

information. Generally, this section divides agency records into three major categories and 

provides methods by which each category of records is to be made available to the public. The 

three major categories of records are as follows:

(1) Information required to be published in the Federal Register (see § 1301.3);

(2) Information required to be made available for public inspection in an electronic 

format or, in the alternative, to be published and offered for sale (see § 1301.4); and

(3) Information required to be made available to any member of the public upon specific 

request (see §§ 1301.5 through 1301.12).

(b) Right of access. Subject to the exemptions and exclusions set forth in the FOIA (5 

U.S.C. 552(b) and (c)), and the regulations set forth in this subpart, any person shall be afforded 

access to records.

(c) Exemptions. (1) The disclosure requirements of 5 U.S.C. 552(a) do not apply to 

certain records which are exempt under 5 U.S.C. 552(b); nor do the disclosure requirements 

apply to certain records which are excluded under 5 U.S.C. 552(c).

(2) The Council shall withhold records or information under the FOIA only when it

reasonably foresees that disclosure would harm an interest protected by a FOIA exemption or 

when disclosure is prohibited by law. Whenever the Council determines that full disclosure of a 

requested record is not possible, the Council shall consider whether partial disclosure is possible 
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and shall take reasonable steps to segregate and release nonexempt information. Nothing in this 

paragraph requires disclosure of information that is otherwise exempted from disclosure under 

12 U.S.C. 552(b)(3).

§ 1301.3 Publication in the Federal Register.

Subject to the application of the FOIA exemptions and exclusions (5 U.S.C. 552(b) and 

(c)) and subject to the limitations provided in 5 U.S.C. 552(a)(1), the Council shall state, publish 

and maintain current in the Federal Register for the guidance of the public:

(a) Descriptions of its central and field organization and the established places at which, 

the persons from whom, and the methods whereby, the public may obtain information, make 

submittals or requests, or obtain decisions;

(b) Statements of the general course and method by which its functions are channeled and 

determined, including the nature and requirements of all formal and informal procedures 

available;

(c) Rules of procedure, descriptions of forms available or the places at which forms may 

be obtained, and instructions as to the scope and contents of all papers, reports, or examinations;

(d) Substantive rules of general applicability adopted as authorized by law, and 

statements of general policy or interpretations of general applicability formulated and adopted by 

the Council; and

(e) Each amendment, revision, or repeal of matters referred to in paragraphs (a) through 

(d) of this section.
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§ 1301.4 Public inspection.

(a) In general. Subject to the application of the FOIA exemptions and exclusions (5 

U.S.C. 552(b) and (c)), the Council shall, in conformance with 5 U.S.C. 552(a)(2), make 

available for public inspection in an electronic format, or, in the alternative, promptly publish 

and offer for sale:

(1) Final opinions, including concurring and dissenting opinions, and orders, made in the 

adjudication of cases;

(2) Those statements of policy and interpretations which have been adopted by the 

Council but which are not published in the Federal Register;

(3) Its administrative staff manuals and instructions to staff that affect a member of the 

public;

(4) Copies of all records, regardless of form or format, that have been released previously 

to any person under 5 U.S.C. 552(a)(3) and §§ 1301.5 through 1301.12, and that the Council 

determines have become or are likely to become the subject of subsequent requests for 

substantially the same records. When the Council receives three (3) or more requests for 

substantially the same records, then the Council shall place those requests in front of any existing 

processing backlog and make the released records available in the Council’s public reading room 

and in the electronic reading room on the Council’s website.

(5) A general index of the records referred to in paragraph (a)(4) of this section.
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(b) Information made available online. For records required to be made available for 

public inspection in an electronic format pursuant to 5 U.S.C. 552(a)(2) and paragraphs (a)(1) 

through (4) of this section, the Council shall make such records available on its website as soon 

as practicable but in any case no later than one year after such records are created.

(c) Redaction. Based upon applicable exemptions in 5 U.S.C. 552(b), the Council may 

redact certain information contained in any matter described in paragraphs (a)(1) through (4) of 

this section before making such information available for inspection or publishing it. The 

justification for the redaction shall be explained in writing, and the extent of such redaction shall 

be indicated on the portion of the record which is made available or published, unless including 

that indication would harm an interest protected by the exemption in 5 U.S.C. 552(b) under 

which the redaction is made. If technically feasible, the extent of the redaction shall be indicated 

at the place in the record where the redaction was made.

(d) Public reading room. The Council shall make available for public inspection in an 

electronic format, in a reading room or otherwise, the material described in paragraphs (a)(1) 

through (5) of this section. Fees for duplication shall be charged in accordance with § 1301.12. 

The location of the Council’s reading room is the Department of the Treasury’s Library. The 

Library is located in the Freedman’s Bank Building (formerly the Treasury Annex), Room 1020, 

1500 Pennsylvania Avenue, NW, Washington, D.C. 20220. For building security purposes, 

visitors are required to make an appointment by calling (202) 622-0990.

(e) Indices. (1) The Council shall maintain and make available for public inspection in an 

electronic format current indices identifying any material described in paragraphs (a)(1) through 

(3) of this section. In addition, the Council shall promptly publish, quarterly or more frequently, 
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and distribute (by sale or otherwise) copies of each index or supplement unless the Council 

determines by order published in the Federal Register that the publication would be unnecessary 

and impractical, in which case the Council shall nonetheless provide copies of the index on 

request at a cost not to exceed the direct cost of duplication.

(2) The Council shall make the indices referred to in paragraph (a)(5) and (e)(1) of this 

section available on its website.

§ 1301.5 Requests for Council records.

(a) In general. Except for records made available under 5 U.S.C. 552(a)(1) and (a)(2) 

and subject to the application of the FOIA exemptions and exclusions (5 U.S.C. 552(b) and (c)), 

the Council shall promptly make its records available to any person pursuant to a request that 

conforms to the rules and procedures of this section. 

(b) Form and content of request. A request for records of the Council shall be made as 

follows: 

(1) The request for records shall be made in writing and submitted by mail or via the 

Internet and should state, both in the request itself and on any envelope that encloses it, that it 

comprises a FOIA request. A request that does not explicitly state that it is a FOIA request, but 

clearly indicates or implies that it is a request for records, may also be processed under the 

FOIA. 

(2) If a request is sent by mail, it shall be addressed and submitted as follows: FOIA 

Request – Financial Stability Oversight Council, U.S. Department of the Treasury, 1500 
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Pennsylvania Avenue, NW, Washington DC 20220. If a request is made via the Internet, it shall 

be submitted as set forth on the Council’s website.

(3) In order to ensure the Council’s ability to respond in a timely manner, a FOIA request 

must describe the records that the requester seeks in sufficient detail to enable Council personnel 

to locate them with a reasonable amount of effort. Whenever possible, the request must include 

specific information about each record sought, such as the date, title or name, author, recipient, 

and subject matter of the record. If known, the requester must include any file designations or 

descriptions for the records requested. In general, a requester is encouraged to provide more 

specific information about the records or types of records sought to increase the likelihood that 

responsive records can be located.

(4) The request shall include the name of and contact information for the requester, 

including a mailing address, telephone number, and, if available, an e-mail address at which the 

Council may contact the requester regarding the request.

(5) For the purpose of determining any fees that may apply to processing a request, a 

requester shall indicate in the request whether the requester is a commercial user, an educational 

institution, non-commercial scientific institution, representative of the news media, or “other” 

requester, as those terms are defined in § 1301.12(c), or in the alternative, state how the records 

released will be used. The Council shall use this information solely for the purpose of 

determining the appropriate fee category that applies to the requester and shall not use this 

information to determine whether to disclose a record in response to the request. 
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(6) If a requester seeks a waiver or reduction of fees associated with processing a request, 

then the request shall include a statement to that effect, pursuant to § 1301.12(f). Any request 

that does not seek a waiver or reduction of fees shall constitute an agreement of the requester to 

pay any and all fees (of up to $25) that may apply to the request, unless or until a request for 

waiver is sought and granted. The requester also may specify in the request an upper limit (of 

not less than $25) that the requester is willing to pay to process the request. 

(i) Any request for waiver or reduction of fees should be filed together with or as part of 

the FOIA request, or at a later time prior to the Council incurring costs to process the request.

(ii) A waiver request submitted after the Council incurs costs will be considered in 

accordance with § 1301.12(f); however, the requester must agree in writing to pay the fees 

already incurred if the waiver is denied.

(7) If a requester seeks expedited processing of a request, then the request must include a 

statement to that effect as is required by § 1301.7(c). 

(c) Request receipt; effect of request deficiencies. The Council shall deem itself to have 

received a request on the date that it receives a complete request containing the information 

required by paragraph (b) of this section. The Council need not accept a request, process a 

request, or be bound by any deadlines in this subpart for processing a request that fails materially

to conform to the requirements of paragraph (b) of this section. If the Council determines that it 

cannot process a request because the request is deficient, then the Council shall return it to the 

requester and advise the requester in what respect the request is deficient. The requester may 

then resubmit the request, which the Council shall treat as a new request. A determination by the 
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Council that a request is deficient in any respect is not a denial of a request for records, and such 

determinations are not subject to appeal. 

(d) Processing of request containing technical deficiency. Notwithstanding 

paragraph (c) of this section, the Council shall not reject a request solely due to one or more 

technical deficiencies contained in the request. For the purposes of this paragraph, the term 

“technical deficiency” means an error or omission with respect to an item of information 

required by paragraph (b) of this section which, by itself, does not prevent that part of the request 

from conforming to the applicable requirement, and includes without limitation a non-material

error relating to the contact information for the requester, or similar error or omission regarding 

the date, title or name, author, recipient, or subject matter of the record requested. 

§ 1301.6 Responsibility for responding to requests for Council records.

(a) In general. In determining which records are responsive to a request, the Council 

ordinarily will include only information contained in records that the Council maintains, or are in 

its possession and control, as of the date the Council begins its search for responsive records. If 

any other date is used, the Council shall inform the requester of that date.

(b) Authority to grant or deny requests. The records officer shall be authorized to make 

an initial determination to grant or deny, in whole or in part, a request for a record.

(c) Referrals. When the Council receives a request for a record or any portion of a record 

in its possession that originated with another agency, including but not limited to a constituent 

agency of the Council, it shall:
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(1) In the case of a record originated by a federal agency subject to the FOIA, refer the 

responsibility for responding to the request regarding that record to the originating agency to 

determine whether to disclose it; and

(2) In the case of a record originated by a state agency, respond to the request after giving

notice to the originating state agency and a reasonable opportunity to provide input or to assert 

any applicable privileges.

(d) Notice of referral. Whenever the Council refers all or any part of the responsibility for 

responding to a request to another agency, the Council shall notify the requester of the referral 

and inform the requester of the name of each agency to which the request has been referred and 

of the part of the request that has been referred.

§ 1301.7 Timing of responses to requests for Council records.

(a) In general. Except as set forth in paragraphs (b) through (d) of this section, the 

Council shall respond to requests according to their order of receipt.

(b) Multitrack processing. (1) The Council may establish tracks to process separately 

simple and complex requests. The Council may assign a request to the simple or complex track 

based on the amount of work and/or time needed to process the request. The Council shall 

process requests in each track according to the order of their receipt.

(2) The Council may provide a requester in its complex track with an opportunity to limit 

the scope of the request to qualify for faster processing within the specified limits of the simple 

track(s). 
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(c) Requests for expedited processing. (1) The Council shall respond to a request out of 

order and on an expedited basis whenever a requester demonstrates a compelling need for 

expedited processing in accordance with the requirements of this paragraph (c).

(2) Form and content of a request for expedited processing. A request for expedited 

processing shall be made as follows:

(i) A request for expedited processing shall be made in writing or via the Internet and 

submitted as part of the initial request for records. When a request for records includes a request 

for expedited processing, both the envelope and the request itself must be clearly marked 

“Expedited Processing Requested.” A request for expedited processing that is not clearly so 

marked, but satisfies the requirements in §1301.7(c)(2)(ii) and (iii), may nevertheless be granted.

(ii) A request for expedited processing shall contain a statement that demonstrates a 

compelling need for the requester to obtain expedited processing of the requested records. A 

“compelling need” may be established under the standard in either paragraph (c)(2)(ii)(A) or (B) 

of this section by demonstrating that:

(A) Failure to obtain the requested records on an expedited basis could reasonably be 

expected to pose an imminent threat to the life or physical safety of an individual. The requester 

shall fully explain the circumstances warranting such an expected threat so that the Council may 

make a reasoned determination that a delay in obtaining the requested records would pose such a 

threat; or

(B) With respect to a request made by a person primarily engaged in disseminating 

information, urgency to inform the public concerning actual or alleged Federal Government 

activity. A person “primarily engaged in disseminating information” does not include 
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individuals who are engaged only incidentally in the dissemination of information. The standard 

of “urgency to inform” requires that the records requested pertain to a matter of current exigency 

to the American general public and that delaying a response to a request for records would 

compromise a significant recognized interest to and throughout the American general public. 

The requester must adequately explain the matter or activity and why the records sought are 

necessary to be provided on an expedited basis.

(iii) The requester shall certify the written statement that purports to demonstrate a 

compelling need for expedited processing to be true and correct to the best of the requester’s 

knowledge and belief. The certification must be in the form prescribed by 28 U.S.C. 1746: “I 

declare under penalty of perjury that the foregoing is true and correct to the best of my 

knowledge and belief. Executed on [date].”

(3) Determinations of requests for expedited processing. Within ten (10) calendar days of 

its receipt of a request for expedited processing, the Council shall decide whether to grant the 

request and shall notify the requester of the determination in writing. 

(4) Effect of granting expedited processing. If the Council grants a request for expedited 

processing, then the Council shall give the expedited request priority over non-expedited 

requests and shall process the expedited request as soon as practicable. The Council may assign 

expedited requests to their own simple and complex processing tracks based upon the amount of 

work and/or time needed to process them. Within each such track, an expedited request shall be 

processed in the order of its receipt.
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(5) Appeals of denials of requests for expedited processing. If the Council denies a 

request for expedited processing, then the requester shall have the right to submit an appeal of 

the denial determination in accordance with § 1301.11. The Council shall communicate this 

appeal right as part of its written notification to the requester denying expedited processing. The 

requester shall clearly mark its appeal request and any envelope that encloses it with the words 

“Appeal for Expedited Processing.” 

(d) Time period for responding to requests for records. Ordinarily, the Council shall have 

twenty (20) days (excepting Saturdays, Sundays, and legal public holidays) from when a request 

that satisfies the requirements of § 1301.5(b) is received by the Council to determine whether to 

grant or deny a request for records. The twenty-day time period set forth in this paragraph shall 

not be tolled by the Council except that the Council may:

(1) Make one reasonable demand to the requester for clarifying information about the 

request and toll the twenty-day time period while it awaits the clarifying information; or

(2) Toll the twenty-day time period while awaiting receipt of the requester’s response to 

the Council’s request for clarification regarding the assessment of fees.

(e) Unusual circumstances. (1) In general. Except as provided in paragraph (e)(2) of 

this section, if the Council determines that, due to unusual circumstances, it cannot respond 

either to a request within the time period set forth in paragraph (d) of this section or to an appeal 

within the time period set forth in § 1301.11, the Council may extend the applicable time periods 

by informing the requester in writing of the unusual circumstances and of the date by which the 

Council expects to complete its processing of the request or appeal. Any extension or extensions 
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of time shall not cumulatively total more than ten (10) days (exclusive of Saturdays, Sundays, 

and legal public holidays). 

(2) Additional time. If the Council determines that it needs additional time beyond a tenday extension to process the request or appeal, then the Council shall notify the requester and 

provide the requester with an opportunity to limit the scope of the request or appeal or to arrange 

for an alternative time frame for processing the request or appeal or a modified request or appeal. 

The requester shall retain the right to define the desired scope of the request or appeal, as long as 

it meets the requirements contained in this part. To aid the requester, the Council shall make 

available its FOIA Public Liaison, who shall assist in defining the desired scope of the request, 

and shall notify the requester of the right to seek dispute resolution services from the Office of 

Government Information Services.

(3) As used in this paragraph (e), “unusual circumstances” means, but only to the extent 

reasonably necessary to the proper processing of the particular requests:

(i) The need to search for and collect the requested records from field facilities or other 

establishments that are separate from the office processing the request;

(ii) The need to search for, collect, and appropriately examine a voluminous amount of 

separate and distinct records which are demanded in a single request; or

(iii) The need for consultation, which shall be conducted with all practicable speed, with 

another agency having a substantial interest in the determination of the request, or among two or 

more components or component offices having substantial subject matter interest therein.
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(4) Where the Council reasonably believes that multiple requests submitted by a 

requester, or by a group of requesters acting in concert, constitute a single request that would 

otherwise involve unusual circumstances, and the requests involve clearly related matters, they 

may be aggregated. Multiple requests involving unrelated matters will not be aggregated. The 

Council may disaggregate and treat as separate requests a single request that has multiple 

unrelated components. The Council shall notify the requester if a request is disaggregated.

§ 1301.8 Responses to requests for Council records.

(a) Acknowledgement of requests. Upon receipt of a request that meets the requirements 

of § 1301.5(b), the Council ordinarily shall assign to the request a unique tracking number and 

shall send an acknowledgement letter or e-mail to the requester that contains the following 

information:

(1) A brief description of the request;

(2) The applicable request tracking number;

(3) The date of receipt of the request, as determined in accordance with § 1301.5(c); and

(4) A confirmation, with respect to any fees that may apply to the request pursuant to § 

1301.12, that the requester has sought a waiver or reduction in such fees, has agreed to pay any 

and all applicable fees, or has specified an upper limit (of not less than $25) that the requester is 

willing to pay in fees to process the request.
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(b) Initial determination to grant or deny a request. (1) In general. The Council records 

officer (as designated in § 1301.6(b)) shall make initial determinations to grant or to deny in 

whole or in part requests for records. 

(2) Granting of request. If the request is granted in full or in part, the Council shall 

provide the requester with a copy of the releasable records, and shall do so in the format 

specified by the requester to the extent that the records are readily producible by the Council in 

the requested format. The Council also shall send the requester a statement of the applicable 

fees, broken down by search, review and duplication fees, either at the time of the determination 

or shortly thereafter. The Council shall also advise the requester of the right to seek assistance 

from the FOIA Public Liaison. 

(3) Denial of requests. If the Council determines that the request for records should be 

denied in whole or in part, the Council shall notify the requester in writing. The notification 

shall:

(i) State the exemptions relied on in not granting the request;

(ii) If technically feasible, indicate the volume of information redacted (including the 

number of pages withheld in part and in full) and the exemptions under which the redaction is 

made at the place in the record where such redaction is made (unless providing such indication 

would harm an interest protected by the exemption relied upon to deny such material);

(iii) Set forth the name and title or position of the responsible official;
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(iv) Advise the requester of the right to administrative appeal in accordance with § 

1301.11 and specify the official or office to which such appeal shall be submitted; and

(v) Advise the requester of the right to seek assistance from the FOIA Public Liaison or 

seek dispute resolution services offered by the Office of Government Information Services.

(4) No records found. If it is determined, after an adequate search for records by the 

responsible official or his/her delegate, that no records could be located, the Council shall so 

notify the requester in writing. The notification letter shall advise the requester of the right to 

seek assistance from the FOIA Public Liaison, seek dispute resolution services offered by the 

Office of Government Information Services, and administratively appeal the Council's 

determination that no records could be located (i.e., to challenge the adequacy of the Council’s 

search for responsive records) in accordance with § 1301.11. The response shall specify the 

official to whom the appeal shall be submitted for review.

§ 1301.9 Classified information.

(a) Referrals of requests for classified information. Whenever a request is made for a 

record containing information that has been classified, or may be appropriate for classification, 

by another agency under Executive Order 13526 or any other executive order concerning the

classification of records, the Council shall refer the responsibility for responding to the request 

regarding that information to the agency that classified the information, should consider the 

information for classification, or has the primary interest in it, as appropriate. Whenever a record 

contains information that has been derivatively classified by the Council because it contains 

information classified by another agency, the Council shall refer the responsibility for 
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responding to the request regarding that information to the agency that classified the underlying 

information or shall consult with that agency prior to processing the record for disclosure or 

withholding.

(b) Determination of continuing need for classification of information. Requests for 

information classified pursuant to Executive Order 13526 require the Council to review the 

information to determine whether it continues to warrant classification. Information which no 

longer warrants classification under the Executive Order’s criteria shall be declassified and made 

available to the requester, unless the information is otherwise exempt from disclosure.

§ 1301.10 Requests for business information provided to the Council.

(a) In general. Business information provided to the Council by a submitter shall not be 

disclosed pursuant to a FOIA request except in accordance with this section.

(b) Definitions. For purposes of this section:

(1) Business information means information from a submitter that is trade secrets or other 

commercial or financial information that may be protected from disclosure under Exemption 4.

(2) Submitter means any person or entity from whom the Council obtains business 

information, directly or indirectly. The term includes corporations, state, local, and tribal 

governments, and foreign governments.

(3) Exemption 4 means Exemption 4 of the FOIA, 5 U.S.C. 552(b)(4).

(c) Designation of business information. A submitter of business information shall use 

good-faith efforts to designate, by appropriate markings, either at the time of submission or at a 
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reasonable time thereafter, any portions of its submission that it considers to be protected from 

disclosure under Exemption 4. These designations will expire ten (10) years after the date of the 

submission unless the submitter on his or her own initiative requests otherwise, and provides 

justification for, a longer designation period.

(d) Notice to submitters. The Council shall provide a submitter with prompt written 

notice of receipt of a request or appeal encompassing the business information of the submitter 

whenever required in accordance with paragraph (e) of this section. Such written notice shall 

either describe the exact nature of the business information requested or provide copies of the 

records or portions of records containing the business information. When a voluminous number 

of submitters must be notified, the Council may post or publish such notice in a place reasonably 

likely to accomplish such notification.

(e) When notice is required. The Council shall provide a submitter with notice of receipt 

of a request or appeal whenever:

(1) The information has been designated in good faith by the submitter as information 

considered protected from disclosure under Exemption 4; or

(2) The Council has reason to believe that the information may be protected from 

disclosure under Exemption 4 because disclosure could reasonably be expected to cause 

substantial competitive harm to the submitter.

(f) Opportunity to object to disclosure. (1) Through the notice described in paragraph (d) 

of this section, the Council shall notify the submitter in writing that the submitter shall have ten 

(10) days from the date of the notice (exclusive of Saturdays, Sundays, and legal public holidays) 
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to provide the Council with a detailed statement of any objection to disclosure. Such statement 

shall specify all grounds for withholding any of the information under Exemption 4, including a 

statement of why the information is considered to be a trade secret or commercial or financial 

information that is privileged or confidential. In the event that the submitter fails to respond to 

the notice within the time specified, the submitter shall be considered to have no objection to 

disclosure of the information. Information provided by a submitter pursuant to this paragraph (f)

may itself be subject to disclosure under the FOIA.

(2) When notice is given to a submitter under this section, the Council shall advise the 

requester that such notice has been given to the submitter. The requester shall be further advised 

that a delay in responding to the request may be considered a denial of access to records and that 

the requester may proceed with an administrative appeal or seek judicial review, if appropriate. 

However, the Council shall invite the requester to agree to an extension of time so that the 

Council may review the submitter’s objection to disclosure.

(g) Notice of intent to disclose. The Council shall consider carefully a submitter’s 

objections and specific grounds for nondisclosure prior to determining whether to disclose 

business information responsive to the request. If the Council decides to disclose business 

information over the objection of a submitter, the Council shall provide the submitter with a 

written notice which shall include:

(1) A statement of the reasons for which the submitter’s disclosure objections were not 

sustained;

(2) A description of the business information to be disclosed; and
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(3) A specified disclosure date which is not less than ten (10) days (exclusive of 

Saturdays, Sundays, and legal public holidays) after the notice of the final decision to release the 

requested information has been provided to the submitter. Except as otherwise prohibited by law, 

notice of the final decision to release the requested information shall be forwarded to the 

requester at the same time.

(h) Notice of FOIA lawsuit. Whenever a requester brings suit seeking to compel 

disclosure of business information covered in paragraph (c) of this section, the Council shall 

promptly notify the submitter.

(i) Exception to notice requirement. The notice requirements of this section shall not 

apply if:

(1) The Council determines that the information shall not be disclosed;

(2) The information lawfully has been published or otherwise made available to the 

public; or

(3) Disclosure of the information is required by statute (other than the FOIA) or by a 

regulation issued in accordance with the requirements of Executive Order 12600 (3 CFR, 1987

Comp., p. 235).

§ 1301.11 Administrative appeals and dispute resolution. 

(a) Grounds for administrative appeals. A requester may appeal an initial determination 

of the Council, including but not limited to a determination:
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(1) To deny access to records in whole or in part (as provided in § 1301.8(b)(3));

(2) To assign a particular fee category to the requester (as provided in § 1301.12(c));

(3) To deny a request for a reduction or waiver of fees (as provided in § 1301.12(f)(7));

(4) That no records could be located that are responsive to the request (as provided in § 

1301.8(b)(4)); or

(5) To deny a request for expedited processing (as provided in § 1301.7(c)(5)).

(b) Time limits for filing administrative appeals. An appeal must be submitted within 

ninety (90) days of the date of the initial determination or the date of the letter transmitting the 

last records released, whichever is later, or, in the case of an appeal of a denial of expedited 

processing, within ninety (90) days of the date of the initial determination to deny expedited 

processing (see § 1301.7). 

(c) Form and content of administrative appeals. The appeal shall—

(1) Be made in writing or, as set forth on the Council’s website, via the Internet;

(2) Be clearly marked on the appeal request and any envelope that encloses it with the 

words “Freedom of Information Act Appeal” and addressed to Financial Stability Oversight 

Council, U.S. Department of the Treasury, 1500 Pennsylvania Avenue, NW, Washington DC 

20220;
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(3) Set forth the name of and contact information for the requester, including a mailing 

address, telephone number, and, if available, an e-mail address at which the Council may contact 

the requester regarding the appeal;

(4) Specify the date of the initial request and date of the letter of initial determination, 

and, where possible, enclose a copy of the initial request and the initial determination being 

appealed; and

(5) Set forth specific grounds for the appeal.

(d) Processing of administrative appeals. Appeals shall be stamped with the date of their 

receipt by the office to which addressed, and shall be processed in the approximate order of their 

receipt. The receipt of the appeal shall be acknowledged by the Council and the requester 

advised of the date the appeal was received and the expected date of response.

(e) Determinations to grant or deny administrative appeals. The Chairperson of the 

Council or his/her designee is authorized to and shall decide whether to affirm or reverse the 

initial determination (in whole or in part), and shall notify the requester of this decision in 

writing within twenty (20) days (exclusive of Saturdays, Sundays, and legal public holidays) 

after the date of receipt of the appeal, unless extended pursuant to § 1301.7(e). 

(1) If it is decided that the appeal is to be denied (in whole or in part) the requester shall 

be—

(i) Notified in writing of the denial;

(ii) Notified of the reasons for the denial, including the FOIA exemptions relied upon;
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(iii) Notified of the name and title or position of the official responsible for the 

determination on appeal; 

(iv) Provided with a statement that judicial review of the denial is available in the United 

States District Court for the judicial district in which the requester resides or has a principal place 

of business, the judicial district in which the requested records are located, or the District of 

Columbia in accordance with 5 U.S.C. 552(a)(4)(B); and

(v) Provided with notification that mediation services may be available to the requester as 

a non-exclusive alternative to litigation through the Office of Government Information Services 

in accordance with 5 U.S.C. 552(h)(3).

(2) If the Council grants the appeal in its entirety, the Council shall so notify the requester 

and promptly process the request in accordance with the decision on appeal.

(f) Dispute resolution. Requesters may seek dispute resolution by contacting the FOIA 

Public Liaison or the Office of Government Information Services as set forth on the Council’s 

website. 

§ 1301.12 Fees for processing requests for Council records.

(a) In general. The Council shall charge the requester for processing a request under the 

FOIA in the amounts and for the services set forth in paragraphs (b) through (d) of this section, 

except if a waiver or reduction of fees is granted under paragraph (f) of this section, or if, 

pursuant to paragraph (e)(2) of this section, the failure of the Council to comply with certain time 
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limits precludes it from assessing certain fees. No fees shall be charged if the amount of fees 

incurred in processing the request is below $25.

(b) Fees chargeable for specific services. The fees for services performed by the Council 

shall be imposed and collected as set forth in this paragraph (b).

(1) Duplicating records. The Council shall charge a requester fees for the cost of copying 

records as follows:

(i) $0.08 per page, up to 8 1⁄2 x 14", made by photocopy or similar process.

(ii) Photographs, films, and other materials – actual cost of duplication.

(iii) Other types of duplication services not mentioned above – actual cost.

(iv) Material provided to a private contractor for copying shall be charged to the requester 

at the actual cost charged by the private contractor.

(2) Search services. The Council shall charge a requester for all time spent by its 

employees searching for records that are responsive to a request, including page-by-page or lineby-line identification of responsive information within records, even if no responsive records are 

found. The Council shall charge the requester fees for search time as follows:

(i) Searches for other than electronic records. The Council shall charge for search time at 

the salary rate(s) (basic pay plus sixteen (16) percent) of the employee(s) who conduct the 

search. This charge shall also include transportation of employees and records at actual cost. 

Fees may be charged for search time even if the search does not yield any responsive records, or 

if records are exempt from disclosure.
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(ii) Searches for electronic records. The Council shall charge the requester for the actual 

direct cost of the search, including computer search time, runs, and the operator's salary. The fee 

for computer output shall be the actual direct cost. For a requester in the “other” category, when 

the cost of the search (including the operator time and the cost of operating the computer to 

process a request) equals the equivalent dollar amount of two hours of the salary of the person 

performing the search (i.e., the operator), the charge for the computer search will begin.

(3) Review of records. The Council shall charge a requester for time spent by its 

employees examining responsive records to determine whether any portions of such record are 

withholdable from disclosure, pursuant to the FOIA exemptions of 5 U.S.C. 552(b). The 

Council shall also charge a requester for time spent by its employees redacting any such 

withholdable information from a record and preparing a record for release to the requester. The 

Council shall charge a requester for time spent reviewing records at the salary rate(s) (i.e., basic 

pay plus sixteen (16) percent) of the employees who conduct the review. Fees may be charged 

for review time even if records ultimately are not disclosed.

(4) Inspection of records in the reading room. Fees for all services provided shall be 

charged whether or not copies are made available to the requester for inspection. However, no 

fee shall be charged for monitoring a requester's inspection of records.

(5) Other services. Other services and materials requested which are not covered by this 

part nor required by the FOIA are chargeable at the actual cost to the Council. Charges 

permitted under this paragraph may include:

(i) Certifying that records are true copies; and
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(ii) Sending records by special methods (such as by express mail, etc.).

(c) Fees applicable to various categories of requesters. (1) Generally. The Council shall 

assess the fees set forth in paragraph (b) of this section in accordance with the requester fee 

categories set forth below. 

(2) Requester selection of fee category. A requester shall identify, in the initial FOIA 

request, the purpose of the request in one of the following categories:

(i) Commercial. A commercial use request refers to a request from or on behalf of a 

person who seeks information for a use or purpose that furthers the commercial, trade, or profit 

interests of the requester or the person on whose behalf the request is made, which can include 

furthering those interests through litigation. The Council may determine from the use specified 

in the request that the requester is a commercial user.

(ii) Educational institution. This refers to a preschool, a public or private elementary or 

secondary school, an institution of graduate higher education, an institution of undergraduate 

higher education, an institution of professional education, and an institution of vocational 

education, which operates a program or programs of scholarly research. This includes a request 

from a teacher or student at any such institution making the request in connection with his or her

role at the educational institution.

(iii) Non-commercial scientific institution. This refers to an institution that is not 

operated on a “commercial” basis, as that term is defined in paragraph (c)(2)(i) of this section, 

and which is operated solely for the purpose of conducting scientific research, the results of 

which are not intended to promote any particular product or industry.
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(iv) Representative of the news media. This refers to any person or entity that gathers 

information of potential interest to a segment of the public, uses its editorial skills to turn the raw 

materials into a distinct work, and distributes that work to an audience. In this paragraph

(c)(2)(iv), the term “news” means information that is about current events or that would be of 

current interest to the public. Examples of news-media entities are television or radio stations 

broadcasting to the public at large and publishers of periodicals (but only if such entities qualify 

as disseminators of “news”) who make their products available for purchase by subscription or 

by free distribution to the general public. These examples are not all-inclusive. Moreover, as 

methods of news delivery evolve (for example, the adoption of the electronic dissemination of 

newspapers through telecommunications services), such alternative media shall be considered to 

be news media entities. A freelance journalist shall be regarded as working for a news media 

entity if the journalist can demonstrate a solid basis for expecting publication through that entity, 

whether or not the journalist is actually employed by the entity. A publication contract would 

present a solid basis for such an expectation; the Council may also consider the past publication 

record of the requester in making such a determination.

(v) Other Requester. This refers to a requester who does not fall within any of the 

categories described in paragraphs (c)(2)(i)-(iv) of this section.

(d) Fees applicable to each category of requester. The Council shall apply the fees set 

forth in this paragraph, for each category described in paragraph (c) of this section, to requests 

processed by the Council under the FOIA. 

(1) Commercial use. A requester seeking records for commercial use shall be charged 

the full direct costs of searching for, reviewing, and duplicating the records they request as set 
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forth in paragraph (b) of this section. Moreover, when a request is received for disclosure that is 

primarily in the commercial interest of the requester, the Council is not required to consider a 

request for a waiver or reduction of fees based upon the assertion that disclosure would be in the 

public interest. The Council may recover the cost of searching for and reviewing records even if 

there is ultimately no disclosure of records or no records are located.

(2) Educational and non-commercial scientific uses. A requester seeking records for

educational or non-commercial scientific use shall be charged only for the cost of duplicating the 

records they request, except that the Council shall provide the first one hundred (100) pages of 

duplication free of charge. To be eligible, the requester must show that the request is made in 

connection with the requester’s role at an educational institution or is made under the auspices of

a non-commercial scientific institution and that the records are not sought for a commercial use, 

but are sought in furtherance of scholarly (if the request is from an educational institution) or 

scientific (if the request is from a non-commercial scientific institution) research. 

(3) News media uses. A requester seeking records under the news media use category 

shall be charged only for the cost of duplicating the records they request, except that the Council 

shall provide the requester with the first one hundred (100) pages of duplication free of charge.

(4) Other requests. A requester seeking records for any other use shall be charged the full 

direct cost of searching for and duplicating records that are responsive to the request, as set forth 

in paragraph (b) of this section, except that the Council shall provide the first one hundred (100) 

pages of duplication and the first two hours of search time free of charge. The Council may 

recover the cost of searching for records even if there is ultimately no disclosure of records, or no 

records are located. 
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(e) Other circumstances when fees are not charged. (1) Notwithstanding paragraphs (b),

(c), and (d) of this section, the Council may not charge a requester a fee for processing a FOIA 

request if—: 

(i) Services were performed without charge;

(ii) The cost of collecting a fee would be equal to or greater than the fee itself; or

(iii) The fees were waived or reduced in accordance with paragraph (f) of this section.

(2) Notwithstanding paragraphs (b), (c), and (d) of this section, the Council may not 

charge a requester search fees or, in the case of a requester described in paragraphs (c)(2)(ii)

through (iv) of this section, duplication fees if the Council fails to comply with any time limit 

under § 1301.7 or § 1301.11; provided that (A) if unusual circumstances (as that term is defined 

in § 1301.7(e)) apply to the processing of the request and the Council has provided a timely 

notice to the requester in accordance with 1301.7(e)(1), then a failure to comply with such time 

limit shall be excused for an additional ten days; (B) if unusual circumstances (as that term is 

defined in § 1301.7(e)) apply to the processing of the request, more than 5,000 pages are 

necessary to respond to the request, the Council has provided a timely written notice to the 

requester in accordance with § 1301.7(e)(2), and the Council has discussed with the requester via 

written mail, electronic mail, or telephone (or made not less than three good-faith attempts to do 

so) how the requester could effectively limit the scope of the request in accordance with 

paragraph § 1301.7(e)(2), then the Council may charge a requester such fees; and (C) if a court 

has determined that exceptional circumstances exist, then a failure to comply with such time 

limit shall be excused for the length of time provided by the court order. 
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(f) Waiver or reduction of fees. (1) A requester shall be entitled to receive from the 

Council a waiver or reduction in the fees otherwise applicable to a FOIA request whenever the 

requester:

(i) Requests such waiver or reduction of fees in writing and submits the written request 

to the Council together with or as part of the FOIA request, or at a later time consistent with § 

1301.5(b)(7) to process the request; and

(ii) Demonstrates that the fee reduction or waiver request is in the public interest because:

(A) Furnishing the information is likely to contribute significantly to public 

understanding of the operations or activities of the government; and 

(B) Furnishing the information is not primarily in the commercial interest of the 

requester. 

(2) To determine whether the requester has satisfied the requirements of paragraph 

(f)(1)(ii)(A) of this section, the Council shall consider:

(i) The subject of the requested records must concern identifiable operations or activities 

of the federal government, with a connection that is direct and clear, not remote or attenuated;

(ii) The disclosable portions of the requested records must be meaningfully informative 

about government operations or activities in order to be “likely to contribute” to an increased 

public understanding of those operations or activities. The disclosure of information that already 

is in the public domain, in either a duplicative or a substantially identical form, would not be as 
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likely to contribute to such understanding where nothing new would be added to the public's 

understanding;

(iii) The disclosure must contribute to the understanding of a reasonably broad audience 

of persons interested in the subject, as opposed to the individual understanding of the requester. 

A requester’s expertise in the subject area and ability and intention to effectively convey 

information to the public shall be considered. It shall be presumed that a representative of the 

news media will satisfy this consideration.

(iv) The public's understanding of the subject in question, as compared to the level of 

public understanding existing prior to the disclosure, must be enhanced by the disclosure to a 

significant extent. 

(3) To determine whether the requester satisfies the requirement of paragraph (f)(1)(ii)(B)

of this section, the Council shall consider:

(i) Any commercial interest of the requester (with reference to the definition of 

“commercial use” in § 1301.12(c)(2)(i)), or of any person on whose behalf the requester may be 

acting, that would be furthered by the requested disclosure. In the administrative process, a 

requester may provide explanatory information regarding this consideration; and

(ii) Whether the public interest is greater in magnitude than that of any identified 

commercial interest in disclosure. The Council ordinarily shall presume that, if a news media 

requester satisfies the public interest standard, the public interest will be the interest primarily 

served by disclosure to that requester. Disclosure to data brokers or others who merely compile 
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and market government information for direct economic return shall not be presumed to 

primarily serve the public interest.

(4) Where only some of the records to be released satisfy the requirements for a waiver or 

reduction of fees, a waiver or reduction shall be granted for those records.

(5) Determination of request to reduce or waive fees. The Council shall notify the 

requester in writing regarding its determinations to reduce or waive fees. 

(6) Effect of denying request to reduce or waive fees. If the Council denies a request to 

reduce or waive fees, then the Council shall advise the requester, in the denial notification letter, 

that the requester may incur fees as a result of processing the request. In the denial notification 

letter, the Council shall advise the requester that the Council will not proceed to process the 

request further unless the requester, in writing, directs the Council to do so and either agrees to 

pay any fees that may apply to processing the request or specifies an upper limit (of not less than 

$25) that the requester is willing to pay to process the request. If the Council does not receive 

this written direction and agreement/specification within thirty (30) days of the date of the denial 

notification letter, then the Council shall deem the FOIA request to be withdrawn.

(7) Appeals of denials of requests to reduce or waive fees. If the Council denies a request 

to reduce or waive fees, then the requester shall have the right to submit an appeal of the denial 

determination in accordance with § 1301.11. The Council shall communicate this appeal right as 

part of its written notification to the requester denying the fee reduction or waiver request. The 

requester shall clearly mark its appeal request and any envelope that encloses it with the words 

“Appeal for Fee Reduction/Waiver.” 
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(g) Notice of estimated fees; advance payments. (1) When the Council estimates the fees 

for processing a request will exceed the limit set by the requester, and that amount is less than 

$250, the Council shall notify the requester of the estimated costs, broken down by search, 

review and duplication fees. The requester must provide an agreement to pay the estimated 

costs, except that the requester may reformulate the request in an attempt to reduce the estimated 

fees.

(2) If the requester fails to state a limit and the costs are estimated to exceed $250, the 

requester shall be notified of the estimated costs, broken down by search, review and duplication 

fees, and must pay such amount prior to the processing of the request, or provide satisfactory 

assurance of full payment if the requester has a history of prompt payment of FOIA fees. 

Alternatively, the requester may reformulate the request in such a way as to constitute a request 

for responsive records at a reduced fee.

(3) The Council reserves the right to request advance payment after a request is processed 

and before records are released.

(4) If a requester previously has failed to pay a fee within thirty (30) calendar days of the 

date of the billing, the requester shall be required to pay the full amount owed plus any 

applicable interest, and to make an advance payment of the full amount of the estimated fee 

before the Council begins to process a new request or the pending request. 

(h) Form of payment. Payment may be made by check or money order paid to the 

Treasurer of the United States.
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(i) Charging interest. The Council may charge interest on any unpaid bill starting on the 

31st day following the date of billing the requester. Interest charges will be assessed at the rate 

provided in 31 U.S.C. 3717 and will accrue from the date of the billing until payment is received 

by the Council. The Council will follow the provisions of the Debt Collection Act of 1982 (Pub. 

L. 97–365, 96 Stat. 1749), as amended, and its administrative procedures, including the use of 

consumer reporting agencies, collection agencies, and offset.

(j) Aggregating requests. If the Council reasonably determines that a requester or a group 

of requesters acting together is attempting to divide a request into a series of requests for the 

purpose of avoiding fees, the Council may aggregate those requests and charge accordingly. The 

Council may presume that multiple requests involving related matters submitted within a thirty 

(30) calendar day period have been made in order to avoid fees. The Council shall not aggregate 

multiple requests involving unrelated matters.

Dated: November 16, 2017

Eric A. Froman

Executive Director,

Financial Stability Oversight Council