12 CFR 261.2 - Definitions.

§ 261.2 Definitions.

For purposes of this part:

(a)Board's official files means the Board's central records.

(b)Commercial use request refers to a request from or on behalf of one who seeks information for a use or purpose that furthers the commercial, trade, or profit interests of the requester or the person on whose behalf the request is made.


(1)Confidential supervisory information means:

(i) Exempt information consisting of reports of examination, inspection and visitation, confidential operating and condition reports, and any information derived from, related to, or contained in such reports;

(ii) Information gathered by the Board in the course of any investigation, suspicious activity report, cease-and-desist orders, civil money penalty enforcement orders, suspension, removal or prohibition orders, or other orders or actions under the Financial Institutions Supervisory Act of 1966, Public Law 89-695, 80 Stat. 1028 (codified as amended in scattered sections of 12 U.S.C.), the Bank Holding Company Act of 1956, 12 U.S.C. 1841et seq., the Home Owners' Loan Act, 12 U.S.C. 1461et seq., the Federal Reserve Act, 12 U.S.C. 221et seq., the International Banking Act of 1978, Public Law 95-369, 92 Stat. 607 (codified as amended in scattered sections of 12 U.S.C.), and the International Lending Supervision Act of 1983, 12 U.S.C. 3901et seq.; except -

(A) Such final orders, amendments, or modifications of final orders, or other actions or documents that are specifically required to be published or made available to the public pursuant to 12 U.S.C. 1818(u), or other applicable law, including the record of litigated proceedings; and (B) The public section of Community Reinvestment Act examination reports, pursuant to 12 U.S.C. 2906(b); and

(B) The public section of Community Reinvestment Act examination reports, pursuant to 12 U.S.C. 2906(b); and

(iii) Any documents prepared by, on behalf of, or for the use of the Board, a Federal Reserve Bank, a federal or state financial institutions supervisory agency, or a bank or bank holding company or other supervised financial institution.

(2)Confidential supervisory information does not include documents prepared by a supervised financial institution for its own business purposes and that are in its possession.

(d)Direct costs mean those expenditures that the Board actually incurs in searching for, reviewing, and duplicating documents in response to a request made under § 261.12.

(e)Duplication refers to the process of making a copy of a document in response to a request for disclosure of records or for inspection of original records that contain exempt material or that otherwise cannot be inspected directly. Among others, such copies may take the form of paper, microform, audiovisual materials, or machine-readable documentation (e.g., magnetic tape or disk).

(f)Educational institution refers to a preschool, a public or private elementary or secondary school, or an institution of undergraduate higher education, graduate higher education, professional education, or an institution of vocational education, which operates a program of scholarly research.

(g)Exempt information means information that is exempt from disclosure under § 261.14.

(h)Noncommercial scientific institution refers to an institution that is not operated on a “commercial” basis (as that term is used in this section) and that is operated solely for the purpose of conducting scientific research, the results of which are not intended to promote any particular product or industry.


(1)Records of the Board include:

(i) In written form, or in nonwritten or machine-readable form; all information coming into the possession and under the control of the Board, any Board member, any Federal Reserve Bank, or any officer, employee, or agent of the Board or of any Federal Reserve Bank, in the performance of functions for or on behalf of the Board that constitute part of the Board's official files; or

(ii) That are maintained for administrative reasons in the regular course of business in official files in any division or office of the Board or any Federal Reserve Bank in connection with the transaction of any official business.

(2)Records of the Board does not include personal files of Board members and employees; tangible exhibits, formulas, designs, or other items of valuable intellectual property; extra copies of documents and library and museum materials kept solely for reference or exhibition purposes; unaltered publications otherwise available to the public in Board publications, libraries, or established distribution systems.

(j)Report of examination means the report prepared by the Board, or other federal or state financial institution supervisory agency, concerning the examination of a financial institution, and includes reports of inspection and reports of examination of U.S. branches or agencies of foreign banks and representative offices of foreign organizations, and other institutions examined by the Federal Reserve System.

(k)Report of inspection means a report prepared by the Board concerning its inspection of a bank holding company and its bank and nonbank subsidiaries or other supervised financial institution.

(l)Representative of the news media refers to any person actively gathering news for an entity that is organized and operated to publish or broadcast news to the public.

(1) The term “news” means information that is about current events or that would be of current interest to the public.

(2) Examples of news media entities include, but are not limited to, television or radio stations broadcasting to the public at large, and publishers of periodicals (but only in those instances when they can qualify as disseminators of “news”) who make their products available for purchase or subscription by the general public.

(3) “Freelance” journalists may be regarded as working for a news organization if they can demonstrate a solid basis for expecting publication through that organization, even though they are not actually employed by it.


(1)Review refers to the process of examining documents, located in response to a request for access, to determine whether any portion of a document is exempt information. It includes doing all that is necessary to excise the documents and otherwise to prepare them for release.

(2)Review does not include time spent resolving general legal or policy issues regarding the application of exemptions.


(1)Search means a reasonable search, by manual or automated means, of the Board's official files and any other files containing Board records as seem reasonably likely in the particular circumstances to contain information of the kind requested. For purposes of computing fees under § 261.17, search time includes all time spent looking for material that is responsive to a request, including line-by-line identification of material within documents. Such activity is distinct from “review” of material to determine whether the material is exempt from disclosure.

(2)Search does not mean or include research, creation of any document, or extensive modification of an existing program or system that would significantly interfere with the operation of the Board's automated information systems.

(o)Supervised financial institution includes a bank, bank holding company (including subsidiaries), savings and loan holding company (including non-depository subsidiaries), U.S. branch or agency of a foreign bank, or any other institution that is supervised by the Board.

[ 62 FR 54359, Oct. 20, 1997, as amended at 76 FR 56601, Sept. 13, 2011]

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
U.S. Code: Title 12 - BANKS AND BANKING

§ 248 - Enumerated powers

§ 321 - Application for membership

§ 322 - Determination on application

§ 323 - Stock in Federal reserve banks; method of payment

§ 324 - Laws applicable on becoming members

§ 325 - Examinations

§ 326 - Acceptance of examinations and reports by State authorities; special examinations

§ 327 - Surrender of stock and cancellation of memberships

§ 328 - Withdrawals from membership

§ 329 - Capital stock required as condition precedent to membership

§ 329a - Omitted

§ 330 - Laws applicable on becoming members; discounts for State banks

§ 331 - Certifying checks on State banks admitted as members

§ 332 - Depositaries of public money; financial agents; security required

§ 333 - Mutual savings banks; application and admission to membership in Federal Reserve System

§ 334 - Reports from affiliates; penalty for failure to furnish

§ 335 - Dealing in investment securities; limitations and conditions

§ 336 - Certificates of stock; representation of stock of other corporations

§ 337 - Repealed. Pub. L. 89–485, § 13(g), July 1, 1966, 80 Stat. 243

§ 338 - Examination of affiliates; forfeiture of membership on refusal of affiliate to give information or pay expense

§ 338a - Investments to promote public welfare and community development; limitation on investments

§ 339 - Participation by State member banks in lotteries and related activities

§ 339a - Resolution of clearing banks

§ 611 - Formation authorized; fiscal agents; depositaries in insular possessions

§ 611a - Statement of purposes; rules and regulations

§ 612 - Articles of association; contents

§ 613 - Signing of articles of association; forwarding to and filing by Board of Governors of the Federal Reserve System; organization certificate; contents

§ 614 - Organization certificate; acknowledgment; forwarding to, filing, and approval by Board of Governors of the Federal Reserve System; permit to do...corporate succession; contracts; suits; directors, officers, and employees; bylaws

§ 615 - Powers of corporation

§ 616 - Place of carrying on business; when business may be begun

§ 617 - Engaging in commerce or trade in commodities; price fixing; forfeiture of charter; acts forbidden to directors, officers, agents, or employees

§ 618 - Capital stock; amount; when paid in

§ 619 - Capital stock; by whom held; ownership of capital stock by foreign bank

§ 620 - Members of Board of Governors of the Federal Reserve System without interest in corporation

§ 621 - Liability of shareholders on unpaid subscriptions; membership of corporation in Federal reserve bank prohibited

§ 622 - Forfeiture of rights and privileges; dissolution; liability of directors and officers

§ 623 - Voluntary liquidation

§ 624 - Appointment of receiver or conservator

§ 625 - Stockholders’ meetings; books and records; reports; examination

§ 626 - Dividends; surplus fund

§ 627 - State taxation

§ 628 - Extension of corporate existence

§ 629 - Conversion of banking corporations into Federal corporations; procedure

§ 630 - Offenses by officers of corporation; punishment

§ 631 - False representations as to liability of United States for acts of corporation; punishment

§ 632 - Jurisdiction of United States courts; disposition by banks of foreign owned property

§ 633 - Potential liability on foreign accounts

§ 1442 - Member financial information

§ 1467a - Regulation of holding companies

§ 1817 - Assessments

§ 1818 - Termination of status as insured depository institution

§ 1821 - Insurance Funds

§ 1830 - Nondiscrimination

§ 1844 - Administration

§ 1951 - Congressional findings and declaration of purpose

§ 1952 - Reports on ownership and control

§ 1953 - Recordkeeping and procedures

§ 1954 - Injunctions

§ 1955 - Civil penalties

§ 1956 - Criminal penalty

§ 1957 - Additional criminal penalty in certain cases

§ 1958 - Compliance

§ 1959 - Administrative procedure

§ 2601 - Congressional findings and purpose

§ 2801 - Congressional findings and declaration of purpose

§ 2802 - Definitions

§ 2803 - Maintenance of records and public disclosure

§ 2804 - Enforcement

§ 2805 - Relation to State laws

§ 2806 - Compliance improvement methods

§ 2807 - Report

§ 2808 - Effective date

§ 2809 - Compilation of aggregate data

§ 2810 - Disclosure by Secretary; commencement, scope, etc.

§ 2811 - Repealed. Pub. L. 100–242, title V, § 565(b), Feb. 5, 1988, 101 Stat. 1945

§ 2901 - Congressional findings and statement of purpose

§ 2902 - Definitions

§ 2903 - Financial institutions; evaluation

§ 2904 - Report to Congress

§ 2905 - Regulations

§ 2906 - Written evaluations

§ 2907 - Operation of branch facilities by minorities and women

§ 2908 - Small bank regulatory relief

§ 3101 - Definitions

§ 3102 - Establishment of Federal branches and agencies by foreign bank

§ 3103 - Interstate banking by foreign banks

§ 3104 - Insurance of deposits

§ 3105 - Authority of Federal Reserve System

§ 3106 - Nonbanking activities of foreign banks

§ 3106a - Compliance with State and Federal laws

§ 3107 - Representative offices

§ 3108 - Regulation and enforcement

§ 3109 - Cooperation with foreign supervisors

§ 3110 - Penalties

§ 3111 - Criminal penalty

§ 3401 - Definitions

§ 3402 - Access to financial records by Government authorities prohibited; exceptions

§ 3403 - Confidentiality of financial records

§ 3404 - Customer authorizations

§ 3405 - Administrative subpena and summons

§ 3406 - Search warrants

§ 3407 - Judicial subpena

§ 3408 - Formal written request

§ 3409 - Delayed notice

§ 3410 - Customer challenges

§ 3411 - Duty of financial institutions

§ 3412 - Use of information

§ 3413 - Exceptions

§ 3414 - Special procedures

§ 3415 - Cost reimbursement

§ 3416 - Jurisdiction

§ 3417 - Civil penalties

§ 3418 - Injunctive relief

§ 3419 - Suspension of limitations

§ 3420 - Grand jury information; notification of certain persons prohibited

§ 3421 - Repealed. Pub. L. 104–66, title III, § 3001(d), Dec. 21, 1995, 109 Stat. 734

§ 3422 - Applicability to Securities and Exchange Commission

U.S. Code: Title 15 - COMMERCE AND TRADE
U.S. Code: Title 29 - LABOR
U.S. Code: Title 31 - MONEY AND FINANCE

Title 12 published on 17-Jun-2017 04:33

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 12 CFR Part 261 after this date.

  • 2016-12-27; vol. 81 # 248 - Tuesday, December 27, 2016
    1. 81 FR 94932 - Rules Regarding Availability of Information
      GPO FDSys XML | Text
      Interim final rule.
      This interim final rule is effective December 27, 2016. Comments should be received on or before February 27, 2017.
      12 CFR Part 261
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