[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: 12CFR264b.7]

[Page 776-777]
 
                       TITLE 12--BANKS AND BANKING
 
                   CHAPTER II--FEDERAL RESERVE SYSTEM
 
PART 264b--RULES REGARDING FOREIGN GIFTS AND DECORATIONS--Table of Contents
 
Sec. 264b.7  Reporting requirements.

    (a) When a Board Member or employee deposits a tangible gift or 
decoration of more than minimal value for disposal or for official use, 
or within 30 days after a Board Member or employee accepts travel or 
travel expenses as provided in this section, the Board Member or 
employee shall file a statement with the Secretary of the Board 
containing the information prescribed in paragraphs (b) and (c) that 
follow.
    (b) For each tangible gift or decoration deposited with the 
Secretary of the Board, a Board Member or employee shall file a 
statement which shall include the following information:
    (1) The name and position of the employee;
    (2) A full description of the gift and the circumstances justifying 
acceptance;
    (3) The identity of the foreign government and the name and position 
of the individual who presented the gift;
    (4) The date of acceptance of the gift;
    (5) The estimated value in the United States of the gift at the time 
of acceptance;
    (6) Disposition or current location of the gift; and
    (7) An indication whether the Board Member or employee is interested 
in participating in the sale of the tangible gift or decoration if it is 
sold by the General Services Administration.
    (c) For each gift of travel or travel expenses accepted, a Board 
Member or employee shall file a statement which

[[Page 777]]

shall include the following information:
    (1) The name and position of the employee;
    (2) A brief description of the travel or travel expenses, including 
the amount, or estimated costs, and the circumstances justifying 
acceptance; and
    (3) The identity of the foreign government and the name and position 
of the individual who provided the travel or travel expenses.
    (d) Board Members and employees need not report the following gifts 
and decorations:
    (1) Gifts of minimal value;
    (2) Decorations retained by the employee with the approval of the 
Board;
    (3) Gifts and decorations offered but refused by the Board Member or 
employee.
    (e) Not later than January 31 of each year, the Secretary of the 
Board shall compile a listing of all statements filed during the 
preceding year by Board Members and employees pursuant to this section 
and shall transmit such listing to the Secretary of State for the 
purpose of publishing a listing of all such statements in the Federal 
Register.