[Code of Federal Regulations]
[Title 5, Volume 3]
[Revised as of January 1, 2009]
From the U.S. Government Printing Office via GPO Access
[CITE: 5CFR3201.101]

[Page 705-706]
 
                    TITLE 5--ADMINISTRATIVE PERSONNEL
 
           CHAPTER XXII--FEDERAL DEPOSIT INSURANCE CORPORATION
 
PART 3201_SUPPLEMENTAL STANDARDS OF ETHICAL CONDUCT FOR EMPLOYEES OF THE FEDERAL DEPOSIT INSURANCE CORPORATION--Table of Contents
 
Sec. 3201.101  General.

Sec.
3201.101 General.
3201.102 Extensions of credit and loans from FDIC-insured institutions.
3201.103 Prohibition on acquisition, ownership, or control of securities 
          of FDIC-insured depository institutions and certain holding 
          companies.
3201.104 Restrictions concerning the purchase of property held by the 
          Corporation or the RTC as conservator, receiver, or liquidator 
          of the assets of an insured depository institution, or by a 
          bridge bank organized by the Corporation.
3201.105 Prohibition on dealings with former employers, associates, and 
          clients.
3201.106 Employment of family members outside the Corporation.
3201.107 Outside employment and other activities.
3201.108 Related statutory and regulatory authorities.
3201.109 Provisions of 5 CFR part 2635 not applicable to Corporation 
          employees.

    Authority: 5 U.S.C. 7301; 5 U.S.C. App. (Ethics in Government Act of 
1978); 12 U.S.C. 1819(a), 1822; 18 U.S.C. 212, 213; 26 U.S.C. 1043; E.O. 
12674, 54 FR 15159, 3 CFR, 1989 Comp., p. 215, as modified by E.O. 
12731, 55 FR 42547, 3 CFR, 1990 Comp., p. 306; 5 CFR 2635.105, 2635.403, 
2635.502, 2635.803.

    Source: 60 FR 20174, Apr. 25, 1995, unless otherwise noted.


    (a) Purpose. The regulations in this part apply to employees of the 
Federal Deposit Insurance Corporation (Corporation) and supplement the 
Standards of Ethical Conduct for Employees of the Executive Branch 
contained in 5 CFR part 2635. Where specified, these regulations also 
apply to the Comptroller of the Currency and the Director of the Office 
of Thrift Supervision in connection with their activities as members of 
the Corporation's Board of Directors.
    (b) Corporation ethics officials. The Executive Secretary of the 
Corporation shall act as the Corporation's Ethics Counselor and as its 
Designated Agency Ethics Official under 5 CFR part 2638. The Ethics 
Program Manager shall act as the Corporation's Alternate Ethics 
Counselor and as the Alternate Agency Ethics Official.
    (1) The Ethics Counselor or Alternate Ethics Counselor may delegate 
authority to one or more employees to serve as Deputy Ethics Counselors.
    (2) The delegation to a Deputy Ethics Counselor shall be in writing 
and cannot be redelegated.
    (c) Agency designees. The Ethics Counselor and Alternate Ethics 
Counselor shall serve as the agency designees for purposes of making the 
determinations, granting the approvals, and taking other actions 
required by an agency designee under part 2635 and this part. The Ethics 
Counselor or Alternate Ethics Counselor may delegate authority to Deputy 
Ethics Counselors or to other employees to serve as agency designees for 
specified purposes. The delegation to any agency designee shall be in 
writing and cannot be redelegated.
    (d) Definitions. For purposes of this part, the following 
definitions apply:
    (1) Affiliate, as defined in 12 U.S.C. 1841(k), means any company 
that controls, is controlled by, or is under common control with another 
company.
    (2) Appropriate director means the head of a Washington office or 
division or the highest ranking official assigned to a regional office 
in each division or the Ethics Counselor.
    (3) Covered employee means:
    (i) Members of the FDIC Board of Directors and any employee required 
to file a public or confidential financial disclosure under 5 CFR part 
2634 who holds a position immediately subordinate to such Board member;
    (ii) The director of any Washington division or office and the 
director of any regional office, and any employee required to file a 
public or confidential financial disclosure report under 5 CFR part 2634 
who holds a position immediately subordinate to such director;
    (iii) An FDIC examiner;
    (iv) Any other FDIC employee whose duties and responsibilities 
include the examination of or the participation in the examination of 
any financial institution;
    (v) Any other FDIC employee whose duties and responsibilities, as 
determined by the Chairman or Ethics Counselor after notice to the 
employee,

[[Page 706]]

require application of the prohibition on borrowing contained in Sec. 
3201.102 to ensure public confidence that the FDIC's programs are 
conducted impartially and objectively.
    (4) Employee means an officer or employee, other than a special 
Government employee, of the Corporation, including a member of the Board 
of Directors appointed under the authority of 12 U.S.C. 1812(a)(1)(C). 
For purposes of 5 CFR part 2635 and Sec. Sec. 3201.103 and 3201.104, 
employee includes any individual who, pursuant to a contract or any 
other arrangement, performs functions or activities of the Corporation, 
under the direct supervision of an officer or employee of the 
Corporation.
    (5) Ethics Counselor means an officer or employee who is designated 
by the head of the agency to coordinate and manage the agency's ethics 
program, and includes the Corporation's Alternate Ethics Counselor.
    (6) Security includes an interest in debt or equity instruments. The 
term includes, without limitation, a secured or unsecured bond, 
debenture, note, securitized assets, commercial paper, and all types of 
preferred and common stock. The term includes an interest or right in a 
security, whether current or contingent, a beneficial or legal interest 
derived from a trust, the right to acquire or dispose of any long or 
short position, an interest convertible into a security, and an option, 
right, warrant, put, or call with respect to a security. The term 
security does not include a deposit account.
    (7) State nonmember bank means any State bank as defined in 12 
U.S.C. 1813(e) that is not a member of the Federal Reserve System.
    (8) Subsidiary, as defined in 12 U.S.C. 1813(w), means any company 
that is owned or controlled directly or indirectly by another company.

[60 FR 20174, Apr. 25, 1995, as amended at 67 FR 71070, Nov. 29, 2002; 
72 FR 19378, Apr. 18, 2007]