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CFR › Title 12 › Chapter II › Subchapter A › Part 263 › Subpart G › Section 263.105

12 CFR 263.105 - Statement of net worth.

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§ 263.105
Statement of net worth.
(a) General rule. A statement of net worth shall be filed with the application for an award of fees. The statement shall reflect the net worth of the applicant and all affiliates of the applicant, as specified in § 263.103(c)(5). In all cases, the administrative law judge or the Board may call for additional information needed to establish the applicant's net worth as of the initiation of the proceeding.
(b) Contents. (1) Except as otherwise provided herein, the statement of net worth may be in any form convenient to the applicant which fully discloses all the assets and liabilities of the applicant and all the assets and liabilities of its affiliates, as of the time of the initiation of the adversary adjudication. Unaudited financial statements are acceptable for individual applicants as long as the statement provides a reliable basis for evaluation, unless the administrative law judge or the Board otherwise requires. Financial statements or reports filed with or reported to a Federal or State agency, prepared before the initiation of the adversary proceeding for other purposes, and accurate as of a date not more than three months prior to the initiation of the proceeding, shall be acceptable in establishing net worth as of the time of the initiation of the proceeding, unless the administrative law judge or the Board otherwise requires.
(2) In the case of applicants or affiliates that are not banks, net worth shall be considered for the purposes of this subpart to be the excess of total assets over total liabilities, as of the date the underlying proceeding was initiated, except as adjusted under § 263.103(c)(5). The net worth of a bank holding company or a savings and loan holding company shall be considered on a consolidated basis. Assets and liabilities of individuals shall include those beneficially owned.
(3) If the applicant or any of its affiliates is a bank or a savings association, the portion of the statement of net worth which relates to the bank or the savings association shall consist of a copy of the bank's or a savings association's last Consolidated Report of Condition and Income filed before the initiation of the adversary adjudication. Net worth shall be considered for the purposes of this subpart to be the total equity capital (or, in the case of mutual savings banks or mutual savings associations, the total surplus accounts) as reported, in conformity with applicable instructions and guidelines, on the bank's or the savings association's Consolidated Report of Condition and Income filed for the last reporting date before the initiation of the proceeding.
(c) Statement confidential. Unless otherwise ordered by the Board or required by law, the statement of net worth shall be for the confidential use of the Board, counsel for the Board, and the administrative law judge.
[56 FR 38052, Aug. 9, 1991, as amended at 76 FR 56605, Sept. 13, 2011]

Title 12 published on 2012-01-01

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.

  • 2012-11-16; vol. 77 # 222 - Friday, November 16, 2012
    1. 77 FR 68680 - Rules of Practice for Hearings
      GPO FDSys XML | Text
      FEDERAL RESERVE SYSTEM
      Final rule.
      This rule is effective November 16, 2012.
      12 CFR Part 263

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.

This list is taken from the Parallel Table of Authorities and Rules provided by GPO [Government Printing Office].

It is not guaranteed to be accurate or up-to-date, though we do refresh the database weekly. More limitations on accuracy are described at the GPO site.

United States Code
USC : Title 5 - GOVERNMENT ORGANIZATION AND EMPLOYEES

§ 504 - Costs and fees of parties

USC : Title 12 - BANKS AND BANKING

§ 248 - Enumerated powers

§ 324 - Laws applicable on becoming members

§ 504 - Civil money penalty

§ 505 - Civil money penalty

§ 1817 - Assessments

§ 1820 - Administration of Corporation

§ 1828 - Regulations governing insured depository institutions

12 USC § 1831p–1 - Standards for safety and soundness

§ 1847 - Penalties

§ 1884 - Penalties for violations

§ 1972 - Certain tying arrangements prohibited; correspondent accounts

§ 3105 - Authority of Federal Reserve System

§ 3107 - Representative offices

§ 3108 - Regulation and enforcement

§ 3907 - Capital adequacy

§ 3909 - General authorities

USC : Title 15 - COMMERCE AND TRADE

§ 21 - Enforcement provisions

15 USC § -

15 USC § -

15 USC § 78u–2 - Civil remedies in administrative proceedings

USC : Title 28 - JUDICIARY AND JUDICIAL PROCEDURE

§ 2461 note - Mode of recovery

Title 12 published on 2012-01-01

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 12 CFR 263 after this date.

  • 2012-11-16; vol. 77 # 222 - Friday, November 16, 2012
    1. 77 FR 68680 - Rules of Practice for Hearings
      GPO FDSys XML | Text
      FEDERAL RESERVE SYSTEM
      Final rule.
      This rule is effective November 16, 2012.
      12 CFR Part 263