[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: 12CFR265.4]

[Page 778-779]
 
                       TITLE 12--BANKS AND BANKING
 
                   CHAPTER II--FEDERAL RESERVE SYSTEM
 
PART 265--RULES REGARDING DELEGATION OF AUTHORITY--Table of Contents
 
Sec. 265.4  Functions delegated to Board members.

    (a) Individual members. Any Board member designated by the Chairman 
is authorized:
    (1) Review of denial of access to Board records; FOIA. To review and 
determine an appeal of denial of access to Board records under the 
Freedom of Information Act (5 U.S.C. 552), the Privacy Act (5 U.S.C. 
552a), and the Board's rules regarding such access (12 CFR parts 261 and 
261a, respectively).
    (2) Approval of amendments to notice of charges or cease and desist 
orders. To approve (after receiving recommendations of the Director of 
the Division of Banking Supervision and Regulation and the General 
Counsel) amendments to any notice, temporary order, or proposed order 
previously approved by the Board in a specific formal enforcement matter 
(including a notice of charges or removal notice) or any proposed or 
temporary cease and desist order previously approved by the Board under 
12 U.S.C. 1818 (b) and (c).
    (3) Requests for permission to appeal rulings. (i) To act, when 
requested by the Secretary, upon any request under Sec. 263.10(e) of the 
Board's Rules of Practice for Hearings (12 CFR part 263) for special 
permission to appeal from a ruling of the presiding officer on any 
motion made at a hearing conducted under the rules, and if special 
permission is granted, the merits of the appeal shall be presented to 
the Board for decision.
    (ii) Notwithstanding Sec. 265.3 of this part, the denial of special 
permission to appeal a ruling may be reviewed by the Board only if a 
Board member requests a review within two days of the denial. No person 
claiming to be adversely affected by the denial shall have any right to 
petition the Board or any Board member for review or reconsideration of 
the denial.
    (4) Extension of time period for final Board action. To extend for 
an additional 180 days the 180-day period within which final Board 
action is required on an application pursuant to section 7(d) of the 
International Banking Act.

[[Page 779]]

    (b) Three member Action Committee. Any three Board members 
designated from time to time by the Chairman (the ``Action Committee'') 
are authorized:
    (1) Absence of quorum. To act, upon certification by the Secretary 
of the Board of an absence of a quorum of the Board present in person, 
by unanimous vote on any matter that the Chairman has certified must be 
acted upon promptly in order to avoid delay that would be inconsistent 
with the public interest except for matters:
    (i) Relating to rulemaking;
    (ii) Pertaining principally to monetary and credit policies; and
    (iii) For which a statute expressly requires the affirmative vote of 
more than three Board members.
    (2) [Reserved]

[56 FR 25619, June 5, 1991, as amended at 56 FR 67154, Dec. 30, 1991; 62 
FR 14793, Mar. 28, 1997]