12 CFR 163.555 - What definitions apply to this subpart?

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There are 2 Updates appearing in the Federal Register for 12 CFR 163. View below or at eCFR (GPOAccess)
§ 163.555 What definitions apply to this subpart?
The following definitions apply to this subpart:
Director means an individual who serves on the board of directors of a Federal savings association. This term does not include an advisory director who:
(1) Is not elected by the shareholders;
(2) Is not authorized to vote on any matters before the board of directors or any committee of the board of directors;
(3) Provides only general policy advice to the board of directors or any committee of the board of directors; and
(4) Has not been identified by the OCC or the OTS in writing as an individual who performs the functions of a director, or who exercises significant influence over, or participates in, major policymaking decisions of the board of directors.
Senior executive officer means an individual who holds the title or performs the function of one or more of the following positions (without regard to title, salary, or compensation): President, chief executive officer, chief operating officer, chief financial officer, chief lending officer, or chief investment officer. Senior executive officer also includes any other person identified by the OCC or the OTS in writing as an individual who exercises significant influence over, or participates in, major policymaking decisions, whether or not hired as an employee.
Troubled condition means:
(1) A Federal savings association that has a composite rating of 4 or 5, as composite rating is defined in § 116.5(c) of this chapter;
(2) A Federal savings association that is subject to a capital directive, a cease-and-desist order, a consent order, a formal written agreement, or a prompt corrective action directive relating to the safety and soundness or financial viability of the savings association, unless otherwise informed in writing by the OCC; or
(3) A Federal savings association that is informed in writing by the OCC that it is in troubled condition based on information available to the OCC.

Title 12 published on 2014-01-01

The following are only the Rules published in the Federal Register after the published date of Title 12.

For a complete list of all Rules, Proposed Rules, and Notices view the Rulemaking tab.

  • 2014-05-16; vol. 79 # 95 - Friday, May 16, 2014
    1. 79 FR 28393 - Integration of National Bank and Savings Association Regulations: Interagency Rules
      GPO FDSys XML | Text
      DEPARTMENT OF THE TREASURY, Office of the Comptroller of the Currency
      Final rule.
      This final rule is effective on June 16, 2014.
      12 CFR Parts 14, 21, 26, 34, 35, 41, 133, 136, 160, 163, 164, 171, and 196

This is a list of United States Code sections, Statutes at Large, Public Laws, and Presidential Documents, which provide rulemaking authority for this CFR Part.

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United States Code

Title 12 published on 2014-01-01

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 12 CFR 163 after this date.

  • 2014-06-10; vol. 79 # 111 - Tuesday, June 10, 2014
    1. 79 FR 33260 - Integration of National Bank and Federal Savings Association Regulations: Licensing Rules
      GPO FDSys XML | Text
      DEPARTMENT OF THE TREASURY, Office of the Comptroller of the Currency
      Notice of proposed rulemaking.
      Comments must be received on or before August 11, 2014.
      12 CFR Parts 4, 5, 7, 14, 32, 34, 100, 116, 143, 144, 145, 146, 150, 152, 159, 160, 161, 162, 163, 174, 192, 193