PART 264a—POST-EMPLOYMENT RESTRICTIONS FOR SENIOR EXAMINERS Authority: 12 U.S.C. 1820(k). Source: 70 FR 69638, Nov. 17, 2005, unless otherwise noted. § 264a.1 What is the purpose and scope of this part? This part identifies those officers and employees of the Federal Reserve that are subject to the special post-employment restrictions set forth in section 10(k) of the Federal Deposit Insurance Act (FDI Act) and implements those restrictions as they apply to officers and employees of the Federal Reserve. § 264a.2 Who is considered a senior examiner of the Federal Reserve? For purposes of this part, an officer or employee of the Federal Reserve is considered to be the “senior examiner” for a particular state member bank, bank holding company, savings and loan holding company, or foreign bank if— (a) The officer or employee has been authorized by the Board to conduct examinations or inspections on behalf of the Board; (b) The officer or employee has been assigned continuing, broad and lead responsibility for examining or inspecting the state member bank, bank holding company, savings and loan holding company, or foreign bank; and (c) The officer's or employee's responsibilities for examining, inspecting and supervising the state member bank, bank holding company, savings and loan holding company, or foreign bank— (1) Represent a substantial portion of the officer's or employee's assigned responsibilities; and (2) Require the officer or employee to interact routinely with officers or employees of the state member bank, bank holding company, savings and loan holding company, or foreign bank or its affiliates. [76 FR 56605, Sept. 13, 2011] § 264a.3 What special post-employment restrictions apply to senior examiners? (a) Senior Examiners of State Member Banks. (1) The state member bank; or (2) Any company (including a bank holding company) that controls the state member bank. (b) Senior Examiners of Bank Holding Companies. (1) The bank holding company; or (2) Any depository institution that is controlled by the bank holding company. (c) Senior Examiners of Foreign Banks. (1) The foreign bank; or (2) Any branch or agency of the foreign bank located in the United States; or (3) Any other depository institution controlled by the foreign bank. (d) Senior Examiners of Savings and Loan Holding Companies. (1) The savings and loan holding company; or (2) Any depository institution that is controlled by the savings and loan holding company. [70 FR 69638, Nov. 17, 2005, as amended at 76 FR 56606, Sept. 13, 2011] § 264a.4 When do these special restrictions become effective and may they be waived? The post-employment restrictions set forth in section 10(k) of the FDI Act and § 264a.3 do not apply to any officer or employee of the Federal Reserve, or any former officer or employee of the Federal Reserve, if— (a) The individual ceased to be an officer or employee of the Federal Reserve before December 17, 2005; or (b) The Chairman of the Board of Governors certifies, in writing and on a case-by-case basis, that granting the individual a waiver of the restrictions would not affect the integrity of the Federal Reserve's supervisory program. § 264a.5 What are the penalties for violating these special post-employment restrictions? (a) Penalties under section 10(k) of FDI Act. (1) An order— (i) Removing the individual from office or prohibiting the individual from further participation in the affairs of the relevant state member bank, bank holding company, savings and loan holding company, foreign bank or other depository institution or company for a period of up to five years; and (ii) Prohibiting the individual from participating in the affairs of any insured depository institution for a period of up to five years; and/or (2) A civil monetary penalty of not more than $250,000. (b) Imposition of penalties. (c) Scope of prohibition orders. (d) Procedures. (e) Other penalties. [70 FR 69638, Nov. 17, 2005, as amended at 76 FR 56606, Sept. 13, 2011] § 264a.6 What other definitions and rules of construction apply for purposes of this part? For purposes of this part— (a) Bank holding company et seq. (b) A person shall be deemed to act as a consultant (c) Control (d) Depository institution (e) Federal Reserve (f) Foreign bank (g) Insured depository institution (h) Savings and loan holding company et seq. [70 FR 69638, Nov. 17, 2005, as amended at 76 FR 56606, Sept. 13, 2011]