[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: 12CFR271.8]

[Page 856]
 
                       TITLE 12--BANKS AND BANKING
 
                   CHAPTER II--FEDERAL RESERVE SYSTEM
 
PART 271--RULES REGARDING AVAILABILITY OF INFORMATION--Table of Contents
 
Sec. 271.8  Subpoenas.

    (a) Advice by person served. If any person, whether or not an 
officer or employee of the Committee, of the Board of Governors of the 
Federal Reserve System, or of a Federal Reserve Bank, has information of 
the Committee that may not be disclosed by reason of Sec. 271.7 and in 
connection therewith is served with a subpoena, order, or other process 
requiring his personal attendance as a witness or the production of 
documents or information upon any proceeding, he should promptly inform 
the Secretary of the Committee of such service and of all relevant 
facts, including the documents and information requested and any facts 
that may be of assistance in determining whether such documents or 
information should be made available; and he should take action at the 
appropriate time to inform the court or tribunal that issued the 
process, and the attorney for the party at whose instance the process 
was issued, if known, of the substance of this part.
    (b) Appearance by person served. Except as disclosure of the 
relevant information is authorized pursuant to this part, any person who 
has information of the Committee and is required to respond to a 
subpoena or other legal process shall attend at the time and place 
therein mentioned and decline to disclose such information or give any 
testimony with respect thereto, basing his refusal upon this part. If, 
notwithstanding, the court or other body orders the disclosure of such 
information, or the giving of such testimony, the person having such 
information of the Committee shall continue to decline to disclose such 
information and shall promptly report the facts to the Committee for 
such action as the Committee may deem appropriate.