12 C.F.R. § 261.22 Other disclosure of confidential supervisory information.
Title 12 - Banks and Banking
(a) Board policy. It is the Board's policy regarding confidential supervisory information that such information is confidential and privileged. Accordingly, the Board will not normally disclose this information to the public. The Board, when considering a request for disclosure of confidential supervisory information under this section, will not authorize disclosure unless the person requesting disclosure is able to show a substantial need for such information that outweighs the need to maintain confidentiality. (b) Requests for disclosure—(1) Requests from litigants for information or testimony. Any person (except agencies identified in §§261.20 and 261.21 of this regulation) seeking access to confidential supervisory information or seeking to obtain the testimony of present or former Board or Reserve Bank employees on matters involving confidential supervisory information of the Board, whether by deposition or otherwise, for use in litigation before a court, board, commission, or agency, shall file a written request with the General Counsel of the Board. The request shall describe: (i) The particular information, kinds of information, and where possible, the particular documents to which access is sought; (ii) The judicial or administrative action for which the confidential supervisory information is sought; (iii) The relationship of the confidential supervisory information to the issues or matters raised by the judicial or administrative action; (iv) The requesting person's need for the information; (v) The reason why the requesting person cannot obtain the information sought from any other source; and (vi) A commitment to obtain a protective order acceptable to the Board from the judicial or administrative tribunal hearing the action preserving the confidentiality of any information that is provided. (2) All other requests. Any other person (except agencies identified in §§261.20 and 261.21 of this regulation) seeking access to confidential supervisory information for any other purpose shall file a written request with the General Counsel of the Board. A request under this paragraph (b)(2) shall describe the purpose for which such disclosure is sought. (c) Action on request—(1) Determination of approval. The General Counsel of the Board may approve a request made under this section provided that he or she determines that: (i) The person making the request has shown a substantial need for confidential supervisory information that outweighs the need to maintain confidentiality; and (ii) Disclosure is consistent with the supervisory and regulatory responsibilities and policies of the Board. (2) Conditions or limitations. The General Counsel of the Board may, in approving a request, impose such conditions or limitations on use of any information disclosed as is deemed necessary to protect the confidentiality of the Board's information. (d) Exhaustion of administrative remedies for discovery purposes in civil, criminal, or administrative action. Action on a request under this section by the General Counsel of the Board shall exhaust administrative remedies for discovery purposes in any civil, criminal, or administrative proceeding. A request made pursuant to §261.12 of this regulation does not exhaust administrative remedies for discovery purposes. Therefore, it is not necessary to file a request pursuant to §261.12 to exhaust administrative remedies under this section. (e) Other disclosure prohibited. All confidential supervisory information made available under this section shall remain the property of the Board. Any person in possession of such information shall not use or disclose such information for any purpose other than that authorized by the General Counsel of the Board without his or her prior written approval. [53 FR 20815, June 7, 1988. Redesignated at 62 FR 54359, Oct. 20, 1997; corrected at 62 FR 62508, Nov. 24, 1997]
Title 12: Banks and Banking
PART 261—RULES REGARDING AVAILABILITY OF INFORMATION
Subpart C—Confidential Information Made Available to Supervised Institutions, Financial Institution Supervisory Agencies, Law Enforcement Agencies, and Others in Certain Circumstances
§ 261.22 Other disclosure of confidential supervisory information.
