[Code of Federal Regulations]
[Title 12, Volume 3]
[Revised as of January 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 12CFR261.23]

[Page 713]
 
                       TITLE 12--BANKS AND BANKING
 
                   CHAPTER II--FEDERAL RESERVE SYSTEM
 
PART 261--RULES REGARDING AVAILABILITY OF INFORMATION--Table of Contents
 
    Subpart C--Confidential Information Made Available to Supervised 
     Institutions, Financial Institution Supervisory Agencies, Law 
        Enforcement Agencies, and Others in Certain Circumstances
 
Sec. 261.23  Subpoenas, orders compelling production, and other process.

    (a) Advice by person served. Any person (including any officers, 
employee, or agent of the Board or any Federal Reserve Bank) who has 
documents or information of the Board that may not be disclosed and who 
is served with a subpoena, order, or other judicial or administrative 
process requiring his or her personal attendance as a witness or 
requiring the production of documents or information in any proceeding, 
shall:
    (1) Promptly inform the Board's General Counsel of the service and 
all relevant facts, including the documents and information requested, 
and any facts of assistance to the Board in determining whether the 
material requested should be made available; and
    (2) At the appropriate time inform the court or tribunal that issued 
the process and the attorney for the party at whose instance the process 
was issued of the substance of these rules.
    (b) Appearance by person served. Unless the Board has authorized 
disclosure of the information requested, any person who has Board 
information that may not be disclosed, and who is required to respond to 
a subpoena or other legal process, shall attend at the time and place 
required and decline to disclose or to give any testimony with respect 
to the information, basing such refusal upon the provisions of this 
regulation. If the court or other body orders the disclosure of the 
information or the giving of testimony, the person having the 
information shall continue to decline to disclose the information and 
shall promptly report the facts to the Board for such action as the 
Board may deem appropriate.

[53 FR 20815, June 7, 1988. Redesignated at 62 FR 54359, Oct. 20, 1997]

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