[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: 12CFR269.8]

[Page 838]
 
                       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. 269.8  Grievance procedures.

    (a) Subject to the provisions of Sec. 269.3(b), an agreement entered 
into with a labor organization as the exclusive representative of 
employees in a unit may contain a grievance procedure, applicable only 
to employees in such unit and which shall be the exclusive means for a 
labor organization and/or an employee to obtain resolution of a 
grievance arising under such agreement.
    (b) Grievance procedures established by a labor agreement may also 
include provisions for arbitration of unresolved grievances by a 
tripartite panel under the Voluntary Labor Arbitration Rules of the 
Association with the impartial arbitrator selected by the Bank and labor 
organization representatives on the arbitration panel to be the 
Chairperson. In such event, arbitration shall extend only to grievances 
which involve the interpretation and application of specific provisions 
of a labor agreement and not to any other matters or to changes in or 
proposed changes in the agreement. Arbitration may only be invoked by 
labor organization on behalf of individual employees with their 
concurrence.