[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: 12CFR269.3]

[Page 835-836]
 
                       TITLE 12--BANKS AND BANKING
 
                   CHAPTER II--FEDERAL RESERVE SYSTEM
 
PART 269--POLICY ON LABOR RELATIONS FOR THE FEDERAL RESERVE BANKS--Table of Contents
 
Sec. 269.3  Recognition of a labor organization and its relationship to a Federal Reserve Bank.

    (a) Any labor organization shall be recognized as the exclusive 
bargaining representative of the employees in an appropriate unit of a 
Bank when that organization has been selected by the employees in said 
unit pursuant to the procedure set forth in Sec. 269.5. A unit may be 
established in a Bank on any basis which will ensure a clear and 
identifiable community of interest among the employees concerned, and 
will promote effective relationships and the efficiency of the Bank's 
operations, but no unit shall be established solely on the basis of the 
extent to which a labor organization or employees in the proposed unit 
may have sought organization.
    (b) When a labor organization has been recognized as the exclusive 
representative of employees in an appropriate unit, it shall be entitled 
to act for and to negotiate agreements in good faith covering all 
employees in the unit, and it shall be responsible for representing the 
interests of all such employees without discrimination and without 
regard to whether they are members of that labor organization or not, 
provided that nothing in this Policy shall prevent an employee from 
adjusting his or her grievance without the intervention of the 
recognized labor organization. The labor organization shall be given 
notice of the adjustment and a reasonable opportunity to object on the 
sole ground that it is in conflict with the terms of the collective 
bargaining agreement.
    (c) A Bank, through appropriate officials, shall have the obligation 
to meet

[[Page 836]]

at reasonable times with representatives of a recognized labor 
organization to negotiate, in good faith, with respect to personnel 
policies and practices affecting working conditions for employees, 
provided that they do not involve matters in any of the following areas:
    (1) The purposes and functions of the Bank; the compensation of and 
hours worked by employees; any classification system used to evaluate 
positions; the budget of the Bank; the retirement system; any insurance 
or other benefit plans; internal security operations; maintenance of the 
efficiency of Bank operations including the determination of work 
methods; the right to contract out; the determination as to manpower 
requirements; use of technology and organization of work; and action to 
meet emergency situations;
    (2) Management rights as to the direction of employees, including 
hiring, promotion, transfer, classification, assignment, layoffs, 
retention, suspension, demotion, discipline and discharge, provided that 
on matters involving the procedures to be followed by a Bank for the 
exercise of its rights under this subparagraph, a Bank shall, upon 
request, discuss such procedures with a recognized labor organization, 
but shall not be required to negotiate for an agreement as to them;
    (3) All Bank matters specifically governed by applicable laws or 
regulations.

The obligation under this paragraph to negotiate with regard to certain 
matters shall include the execution of a written contract incorporating 
any agreement reached, but does not compel either a Bank or a labor 
organization to agree to a particular proposal or to make any concession 
during such negotiations.
    (d) At the time it requests an election to be held, any labor 
organization seeking recognition shall submit to a Bank a roster of its 
officers and representatives, a copy of its constitution and bylaws, and 
a statement of its objectives.
    (e) Subject to the provisions of Sec. 269.8, the exclusive 
recognition of a labor organization shall not preclude any employee, 
regardless of labor organization membership, from bringing matters of 
personal concern not governed by a collective bargaining agreement to 
the attention of appropriate officers, managers or supervisory personnel 
in accordance with applicable law, rule, regulation, or established Bank 
policy, or from choosing his or her own representative in such matters.