Source: https://www.fdic.gov/regulations/laws/rules/2000-1500.html
Timestamp: 2018-10-16 23:03:58
Document Index: 214599030

Matched Legal Cases: ['§ 303', '§ 303', '§ 303', 'art 325', 'art 324', '§ 303', '§ 303', '§ 303', '§ 303', '§ 303', '§ 303', '§ 303', '§ 303', '§ 303', '§ 303', '§ 303', '§ 303', '§ 303', '§ 359', '§ 359', '§ 359', '§ 359', '§ 359', '§ 303', '§ 303', '§ 303', '§ 303', '§ 303', '§ 303', '§ 303', '§ 303', '§ 303', '§ 303', '§ 303', '§ 303', '§ 303', '§ 303']

§ 303.240 General.
[Codified to 12 C.F.R. § 303.240]
§ 303.241 Reduce or retire capital stock or capital debt instruments.
(a) Scope. This section contains the procedures to be followed by an insured state nonmember bank to seek the prior approval of the FDIC to reduce the amount or retire any part of its common or preferred stock, or to retire any part of its capital notes or debentures pursuant to section 18(i)(1) of the Act (12 U.S.C. 1828(i)(1)).
(4) If the proposal involves a series of transactions affecting Tier 1 capital components which will be consummated over a period of time which shall not exceed twelve months, the application shall certify that the insured depository institution will maintain itself as a well-capitalized institution as defined in part 325 of this chapter or part 324 of this chapter, as applicable, both before and after each of the proposed transactions;
(e) Undercapitalized institutions. Procedures regarding applications by an undercapitalized insured depository institution to retire capital stock or capital debt instruments pursuant to section 38 of the FDI Act (12 U.S.C. 1831o) are set forth in subpart K (Prompt Corrective Action), § 303.203. Applications pursuant to sections 38 and 18(i) may be filed concurrently, or as a single application.
(f) Expedited processing for eligible depository institutions. An application filed under this section by an eligible depository institution as defined in § 303.2(r) will be acknowledged in writing by the FDIC and will receive expedited processing, unless the applicant is notified in writing to the contrary and provided with the basis for that decision. The FDIC may remove an application from expedited processing for any of the reasons set forth in § 303.11(c)(2). Absent such removal, an application processed under expedited processing will be deemed approved 20 days after the FDIC's receipt of a substantially complete application.
[Codified to 12 C.F.R. § 303.241]
[Section 303.241 amended at 78 Fed. Reg. 55340, September 10, 2013, effective date: January 1, 2014. Mandatory compliance date: January 1, 2014 for advanced approaches FDIC-supervised institutions; January 1, 2015 for all other FDIC-supervised institutions]
§ 303.242 Exercise of trust powers.
(a) Scope. This section contains the procedures to be followed by a state nonmember bank to seek the FDIC's prior consent to exercise trust powers. The FDIC's prior consent to exercise trust powers is not required in the following circumstances:
(1) Where a state nonmember bank received authority to exercise trust powers from its chartering authority prior to December 1, 1950; or
(2) Where an insured depository institution continues to conduct trust activities pursuant to authority granted by its chartering authority subsequent to a charter conversion or withdrawal from membership in the Federal Reserve System.
(b) Where to file. Applicants shall submit to the appropriate FDIC office a completed form, "Application for Consent To Exercise Trust Powers". This form may be obtained from any FDIC regional director.
(e) Expedited processing for eligible depository institutions. An application filed under this section by an eligible depository institution as defined in § 303.2(r) will be acknowledged in writing by the FDIC and will receive expedited processing, unless the applicant is notified in writing to the contrary and provided with the basis for that decision. The FDIC may remove an application from expedited processing for any of the reasons set forth in § 303.11(c)(2). Absent such removal, an application processed under expedited procedures will be deemed approved 30 days after the FDIC's receipt of a substantially complete application.
[Codified to 12 C.F.R. § 303.242]
§ 303.243 Brokered deposit waivers.
(e) Expedited processing for eligible depository institutions. An application filed under this section by an eligible depository institution as defined in this paragraph will be acknowledged in writing by the FDIC and will receive expedited processing, unless the applicant is notified in writing to the contrary and provided with the basis for that decision. For the purpose of this section, an applicant will be deemed an eligible depository institution if it satisfies all of the criteria contained in § 303.2(r) except that the applicant may be adequately capitalized rather than well-capitalized. The FDIC may remove an application from expedited processing for any of the reasons set forth in § 303.11(c)(2). Absent such removal, an application processed under expedited procedures will be deemed approved 21 days after the FDIC's receipt of a substantially complete application.
[Codified to 12 C.F.R. § 303.243]
§ 303.244 Golden parachute and severance plan payments.
(1) Golden parachute payments. A troubled insured depository institution or a troubled depository institution holding company is prohibited from making golden parachute payments (as defined in § 359.1(f)(1) of this chapter) unless it obtains the consent of the appropriate federal banking agency and the written concurrence of the FDIC. Therefore, in the case of golden parachute payments, the procedures in this section apply to all troubled insured depository institutions and troubled depository institution holding companies.
(2) Excess nondiscriminatory severance plan payments. In the case of excess nondiscriminatory severance plan payments as provided by § 359.1(f)(2)(v) of this chapter, the FDIC's consent is necessary for state nonmember banks that meet the criteria set forth in § 359.1(f)(1)(ii) of this chapter. In addition, the FDIC's consent is required for all insured depository institutions or depository institution holding companies that meet the same criteria and seek to make payments in excess of the 12-month amount specified in § 359.1(f)(2)(v).
(6) Certification and documentation as to each of the points cited in § 359.4(a)(4).
[Codified to 12 C.F.R. § 303.244]
[Section 303.244 amended at 68 Fed. Reg. 50461, August 21, 2003, effective September 22, 2003]
(g) Failure to comply with terms of conditional waiver. In the event a conditional waiver of liability is issued, failure to comply with the terms specified therein may result in the termination of the conditional waiver of liability. The FDIC reserves the right to revoke the conditional waiver of liability after giving the applicant written notice of such revocation and a reasonable opportunity to be heard on the matter pursuant to § 303.10.
[Codified to 12 C.F.R. § 303.245]
[Section 303.245 amended at 20526, April 21, 2006]
§ 303.246 Conversion with diminution of capital.
[Codified to 12 C.F.R. § 303.247]
[Section 303.247 redesignated as section 303.246 at 71 Fed. Reg. 20526, April 21, 2006]
[Codified to 12 C.F.R. § 303.248]
[Section 303.248 redesignated as section 303.247 at 71 Fed. Reg. 20526, April 21, 2006]
§ 303.248 Truth in Lending Act--Relief from reimbursement.
(e) Procedures to be followed in filing requests for reconsideration. Within 15 days of receipt of written notice that its request for relief has been denied, the requestor may petition the appropriate FDIC office for reconsideration of such request in accordance with the procedures set forth in § 303.11(f).
[Section 303.249 redesignated as section 303.248 at 71 Fed. Reg. 20526, April 21, 2006]
[Codified to 12 C.F.R. § 303.249]
[Section 303.250 redesignated as section 303.249 at 71 Fed. Reg. 20526, April 21, 2006]
§ 303.250 Modification of conditions.
[Codified to 12 C.F.R. § 303.250]
[Section 303.251 redesignated as section 303.250 at 71 Fed. Reg. 20526, April 21, 2006]
§ 303.251 Extension of time.
[Codified to 12 C.F.R. § 303.251]
[Section 303.252 redesignated as section 303.251 at 71 Fed. Reg. 20526, April 21, 2006]
§§ 303.252--303.259 [Reserved]