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§ 312.6 Proposed findings and conclusions and recommended decision(a) Proposed findings and conclusions and supporting briefs. Within 15 days after the filing of the transcript with the Secretary (or within 15 days after the bank's receipt of a copy of such transcript, if ordered by the bank before the conclusion of the hearing) the bank or counsel for the Corporation may file with the Secretary for submission to the trial examiner proposed findings and conclusions, which may be accompanied by a brief or memorandum in support thereof. A copy of such proposals and brief or memorandum in support thereof shall be delivered by the Secretary to the trial examiner and a copy shall be served by the Secretary upon the other party to the proceedings. All such proposed findings and conclusions shall be a part of the record.

(b) Recommended decision. The trial examiner, within 15 days after the expiration of the time allowed for filing proposed findings and conclusions, shall

file with the Secretary his recommended decision in the form prescribed by law.

(c) Service of recommended decision. A copy of the recommended decision shall be forthwith served on the bank and on counsel for the Corporation by the Secretary.

§ 312.7 Exceptions-(a) Filing. Within 15 days after receipt of a copy of the recommended decision of the trial examiner, the bank or counsel for the. Corporation may file with the Secretary exceptions to the recommended decision of the trial examiner or any portion thereof or to his failure to adopt a proposed finding or conclusion, or to the admission or exclusion of evidence or to any other ruling. A copy of such exceptions shall be forthwith delivered by the Secretary to the trial examiner and a copy shall be served on the other party to the proceedings. Exceptions shall be argued only if a hearing is ordered before the board of directors.

(b) Waiver. Failure to file exceptions to the recommended decision of the trial examiner or any portion thereof, or to his failure to adopt a proposed finding or conclusion, or to the admission or exclusion of evidence, or to any ruling, within the time so required, shall be deemed to be a waiver of the objections thereto.

§ 312.8

Briefs-(a) Filing. Within the time provided for filing of exceptions, the bank or counsel for the Corporation may file a brief in support of his conclusion and exceptions.

(b) Contents. All briefs shall be confined to the particular matters in issue. Each exception or proposed finding or conclusion which is briefed shall be supported by a concise argument or by citation of such statutes, decisions or other authorities and by page reference to such portions of the record or recommended decision of the trial examiner as may be relevant. If the exception relates to the admission or exclusion of evidence, the substance of the evidence admitted or excluded shall be set forth in the brief with appropriate references to the transcript. Exceptions not briefed may be regarded by the board of directors as waived.

(c) Reply briefs. Reply briefs may be filed within 10 days after service of briefs and shall be confined to matters in original briefs of opposing parties.

(d) Service of briefs. Copies of briefs shall be served by the Secretary on the other party to the proceedings.

(e) Delays. Briefs not filed on or before the time fixed in these rules will be received only upon special permission of the board of directors.

§ 312.9 Certification of record to board of directors. Within 15 days after expiration of the time required for filing exceptions to his recommended decision, the trial examiner shall file with the Secretary of the Corporation and certify to the board of directors for initial decision the entire record, including the transcript of testimony, exhibits (including on request of party concerned any exhibits excluded from evidence) recommended findings and conclusions, exceptions, any briefs or memoranda filed by any party or counsel for the Corporation in connection therewith and his recommended decision.

312.10 Consent to termination of insured status. Unless a bank, which has received notice of intention to terminate its status as an insured bank pursuant to paragraph (1), subsection (1), section 12B of the Federal Reserve Act, as amended, shall appear at the hearing designated in the notice of hearing by a duly authorized representative, it shall be deemed to have consented to the termination of its status as an insured bank. In such event counsel for the Corporation may, but need not, present his case. Within 10 days of the date or close of the hearing the trial examiner shall certify the transcript and exhibits, if any, to the board of directors with his recommended decision.

§ 312.11 Oral argument before board of directors. Upon written request of the bank or counsel for the Corporation, within the time provided for filing the original briefs, the board of directors may order the matter to be set down for oral argument before the board of directors at the time and place specified in such order.

{312.12 Decision of board of directors. Appropriate members of the staff, who are not engaged in the performance of investigative or prosecuting functions, may advise and assist the board of directors in the consideration of the matter and in the preparation of appropriate documents for its disposition. Copies of the decision of the board of directors shall be furnished by the Secretary to

the bank, to counsel for the Corporation and to the appropriate State supervisory authority, in the case of a State bank, to the Board of Governors of the Federal Reserve System, in the case of a State member bank, or to the Comptroller of the Currency, in the case of a national bank.

§ 312.13 Filing papers. Recommended decisions, exceptions, briefs and other papers required to be filed with the board of directors or Secretary in any proceeding shall be filed with the Secretary, Federal Deposit Insurance Corporation, Washington 25, D. C. Any such papers may be sent to the Secretary by mail or express but must be received by the Secretary in the office of the Corporation in Washington, D. C., or post marked by a post office, within the time limit for such filing.

§ 312.14 Service; proof of service. All documents or papers required by this part to be served on the bank, or on counsel for the Corporation, shall be served by the Secretary or other designated officer of the board of directors. Such service, except on counsel for the Corporation, shall be made by personal service on, or by registered mail addressed to the last known address of, the attorney or representative of record of any party. If there is no attorney or representative of record, such service shall be made upon the bank.

§ 312.15 Copies. Unless otherwise specifically provided in the notice of hearing, an original and 7 copies of all documents and papers required or permitted .to be filed or served under this part, except the transcript of testimony and exhibits, shall be furnished to the Secretary.

§ 312.16 Computing time. In computing any period of time prescribed or allowed by this part or by order of the board of directors, the day of the act, event, or default after which the designated period of time begins to run is not to be included. The last day of the period so computed is to be included, unless it is a Saturday, Sunday, or a legal holiday in the District of Columbia, in which event the period runs until the end of the next day which is neither a Saturday, Sunday nor a legal holiday. Intermediate Saturdays, Sundays and holidays shall be included in the computation. A half-holiday shall be considered as other days and not as a holiday.

§ 312.17 Documents in proceedings confidential. Unless and until otherwise ordered by the board of directors, the notice of hearing, the transcript, the recommended decision of the trial examiner, exceptions thereto, proposed findings or conclusions, and briefs in support of such proposals or in support of or in opposition to such exceptions, the findings and conclusions of the board of directors and other papers which are filed in connection with any hearing shall not be made public, and shall be for the confidential use only of the board of directors, the bank and appropriate supervising authorities.

PART 325-INTRODUCTORY

§ 325.0 Scope and source of authority. The regulations and statements of general policy contained in this subchapter are promulgated pursuant to the provisions of section 12B of the Federal Reserve Act, as amended (sec. 12B, 48 Stat.. 168, as amended; 12 U.S.C. and Sup., 264), and are published pursuant to the Administrative Procedure Act (60 Stat. 237), and other applicable laws, and, in accordance with the provisions of section 3 (a) (3) of the Administrative Procedure Act, contain rules adopted as authorized by law and statements of general policy or interpretations formulated and adopted by the Corporation for the guidance of the public. (48 Stat. 168, as amended; 12 U.S.C. and Sup., 264) [Res., Aug. 30, 1946, effective Sept. 11, 1946, 11 F.R. 177A-444]

PART 326-BANK OBLIGATIONS PRE-
SCRIBED AS DEPOSITS

§ 312.18 Formal requirements as to papers filed-(a) Form. All papers filed under this part shall be typewritten, mimeographed, or printed.

Subchapter C-Regulations and Statements of General Policy

NOTE: The regulations in this subchapter were duly adopted by the Corporation, and were published in the FEDERAL REGISTER in substantially the form herein set forth, prior to the effective date of the Administrative Procedure Act (September 11, 1946). The regulations now appearing in Parts 326, 327, 328, 329, 330, and 331 formerly appeared in Parts 301, 302, 303, 304, 305, and 307; former Parts 306, 308, and 309 now appear as §§ 302.2 (b), 304.2, and Part 311 of this chapter respectively. The parts of this chapter published in conformity with the Administrative Procedure Act have been assigned the part numbers of the former regulations. This republication of former regulations is for the convenience and information of the public and in order that they may be conformed to, and made consistent with, the present structure of the Corporation's rules. The effective dates of such former regulations, as heretofore provided, shall not be affected by such republication, nor shall such republication serve to relieve or excuse any bank or person heretofore subject thereto from any prior failure to comply therewith.

§ 326.1 Deposits. The term "deposit" as used in subsection (c), paragraph (12) of section 12B of the Federal Reserve Act,

(b) Signature. All papers must be signed by an officer of the bank filing the same, or its duly authorized agent or attorney, or counsel for the Corporation, and, except in the case of counsel for the Corporation, must show the address of the signer.

(c) Caption. All papers filed must inIclude at the head thereof, or on a title page, the name of the Corporation, the name of the bank, and the subject of the particular paper,

as amended (48 Stat. 168, as amended; 12 U.S.C. 264 (c) (12)), shall include the following obligations:

(a) Outstanding drafts, cashier's checks and other officer's checks. Outstanding drafts,' cashier's checks, and other officer's checks issued under any of the following circumstances:

(1) For money or its equivalent received by the issuing bank; or

(2) For a charge against a deposit account in the issuing bank; or

(3) In settlement of checks, drafts, or other instruments forwarded to the issuing bank for collection.

(b) Certified checks. Checks drawn against a deposit account and certified by the drawee bank.

(c) Traveler's checks and letters of credit. Outstanding traveler's checks or letters of credit on which the bank is

1 Drafts drawn on foreign correspondents or foreign branches and payable only in foreign countries are not included in the term "deposit."

primarily liable issued under either of the following circumstances:

(1) For money or its equivalent received by the issuing bank; or

(2) For a charge against a deposit account in the issuing bank.

Under

(d) Money or its equivalent. paragraphs (a) and (c) of this section drafts, cashier's checks and other officer's checks, traveler's checks and letters of credit must be regarded as issued for the equivalent of money when issued in exchange for checks or drafts or for promissory notes upon which the person procuring any of the enumerated instruments is primarily or secondarily liable. (48 Stat. 168, as amended; 12 U.S.C. and Sup., 264) [Res., Aug. 30, 1946, effective Sept. 11, 1946, 11 F.R. 177A-444]

PART 327-ASSESSMENTS

Sec.

327.1 Classes of uncollected items eligible for deduction..

327.2 Periods of deduction for uncollected items.

327.3 Payment of assessments by banks whose insured status has terminated.

AUTHORITY: §§ 327.1 to 327.3, inclusive, issued under 48 Stat. 168, as amended; 12 U.S.C. and Sup., 264.

SOURCE: §§ 327.1 to 327.3, inclusive, contained in Resolution, Federal Deposit Insurance Corporation, Aug. 30, 1946, effective Sept. 11, 1946, 11 F.R. 177A-444.

§ 327.1 Classes of uncollected items eligible for deduction. The term "item" as used in this part means any instrument providing for the payment of money. In computing the bank's assessment base, items may be deducted by the bank of deposit from the total amount of the bank's liability for deposits during the periods prescribed by 327.2: Provided, That they were included in the bank's liability for deposits and, Provided further, That they were received in the usual course of business pursuant to an agreement under which the bank has given or is obligated to give credit to a commercial, checking, savings, time or thrift account, and that the drawee or the payor of the item is a bank or person other than the bank of deposit. The bank may deduct such uncollected item without regard to whether withdrawal has been made against the credit given or agreed to be given therefor. No item shall be

deducted except in accordance with the provisions of this section.

§ 327.2 Periods of deduction for un· collected items-(a) Local item. A local item shall be eligible for deduction for a period not to exceed one (1) day. The term "local item" does not include items which are not available for two or more days under the current Time Schedules of the Federal Reserve bank or branch thereof for the city in which the bank of deposit is located.

(b) Out-of-town item. An out-oftown item shall be eligible for deduction for a period not to exceed the time which would be necessary to send the item in due course to the Federal Reserve bank of the Federal Reserve district or the branch of the sub-district thereof in which the bank of deposit is located, plus the time allowed for collection from the place where the item is payable, as shown on the current Time Schedule of such Federal Reserve bank or branch thereof: Provided, That no item shall be deducted after the bank has had advice that the item has been paid or dishonored.

(c) Items credited to deposit account in bank or branch located outside of any Federal Reserve district. In the case of an insured bank or branch located outside of any Federal Reserve district an item credited to a deposit account subject to final payment which is drawn on a bank located in a place other than the place where the bank of deposit is located may be claimed as a deduction for the period between the date the item is credited to the deposit account and the date of receipt (in the usual course of business) by the correspondent bank to which the item is forwarded for collection, plus the collection time allowed by the Federal Reserve time schedule for the district in which the correspondent bank is located, or, where collection time is not included in the Federal Reserve time schedule, plus the actual collection time: Provided, That the bank of deposit maintains analyses of its accounts and determines periodically the amount of uncollected transit items contained in the credit balance of each deposit account at all times and, Provided further, That no deduction for such transit items shall be permitted in an amount in excess of the balance in the individual account to which such items have been credited. If the bank of deposit does not maintain such analyses, it shall be permitted to

claim deductions for such items for a period not to exceed the collection time allowed by the current Federal Reserve . time schedule for the district in which the correspondent bank is located, the same as if the bank of deposit were located in the same place, plus an allowance of one day for transmission to such correspondent, or, where the collection time is not included in the Federal Reserve time schedule, for the time required by the correspondent bank to make the collection, plus an allowance of one day for transmission to such correspondent.

(d) Construction of section. This section is not to be construed as requiring any bank to clear items through any Federal Reserve bank or branch thereof.

§ 327.3 Payment of assessments by banks whose insured status has terminated (a) Assumed deposits of terminating bank become deposits of assuming bank. The deposit liabilities of an insured bank, if assumed by another insured bank, will, except to the extent that depositors of the first bank by affirmative action signify their express intention to hold the first bank liable as a debtor, be presumed for assessment purposes to cease being deposit liabilities of the first bank on the date the assumption becomes effective: Provided, That the requisite notice of assumption be given to the depositors of the terminating bank. The assumed deposits, for assessment purposes, are deposit liabilities of the assuming bank from the date of assumption, whether or not the requisite notice of assumption has been given to the depositors.

(b) Payment of assessments by as'suming bank on assumed deposits of terminating bank. Where the deposit liabilities of an insured bank are assumed by another insured bank and the assuming bank agrees to file the certified statement which the terminating bank is required to file, the filing of such certified statement and the payment of the assessment thereon by the assuming bank shall be deemed the acts of the terminating bank: Provided, That the requisite notice of assumption' be given to the depositors of the terminating bank and, Provided further, That such certified statement shall be filed separately from that required to be filed by the assuming bank.

1 The requisite notice of assumption shall be the notice prescribed in § 311.3 of this chapter.

(c) Resumption of insured status before insurance of deposits ceases. If a bank whose insured status has been terminated under paragraphs (1) or (2) of subsection (i) of section 12B of the Federal Reserve Act, as amended, (48 Stat. 171, as amended; 12 U.S.C. 264 (i) (1) and (2)), makes application to the Corporation, before the insurance of its deposits shall have ceased, to be permitted to continue or to resume its status as an insured bank and if the board of directors grant the application, the bank will be deemed, for assessment purposes, to continue as an insured bank and must thereafter furnish certified statements and pay assessments as though its insured status had not been terminated. For the procedure to be followed in making such application, see § 307.7 of this chapter.

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§ 328.0 Scope. The regulation contained in this part prescribes the requirements with regard to the official sign insured banks must display and the requirements with regard to the official advertising statement insured banks must include in advertisements relating to deposits. It also prescribes an approved emblem and an approved short title which insured banks may use at their option. It imposes no limitations on other proper advertising of insurance of deposits by insured banks and does not apply to advertisements published in foreign countries by insured banks which maintain offices in such foreign countries in which offices the deposits are not insured.

§ 328.1 Mandatory requirements with regard to the official sign and its dis

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