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F ederal R eserve Bank of Dallas DALLAS. TE X A S 75222 Circular No. 73-90 April 2 k , 1973 R E V I S I O N S Rules of Organization Rules of Procedure To All Member Banks and Others Concerned in the Eleventh Federal Reserve District: The Board of Governors of the Federal Reserve System has revised its "Rules of Organization" and "Rules of Procedure". The revision of the "Rules of Organization" brings descriptions of the functions of the various offices and divisions of the Board's staff up to date and otherwise brings the Rules into conformity with current practice; the revision of the "Rules of Procedure" brings them into con formity with current practice and makes them more informative to the public. A pamphlet containing these revisions, which became effective March 1, 1973? is enclosed for insertion in the binder of Regulations of the Board of Governors of the Federal Reserve System and Bulletins of the Federal Reserve Bank of Dallas furnished all member banks. Your copy of the "Rules of Organization" and "Rules of Procedure" effective August 9? 19&7? together with the Amendment to the "Rules of Procedure" effective September 1, 1971? may now be removed from your binder and destroyed. Yours very truly, P . E . Coldwell, President Enclosure (l) This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org) BOARD OF GOVERNORS of the FEDERAL RESERVE SYSTEM RULES OF ORGANIZATION RULES OF PROCEDURE (12 CFR 262) Any inquiry relating to this regulation should be addressed to the Federal Reserve Bank of the Federal Reserve district in which the inquiry arises. CONTENTS Page Page RULES OF PROCEDURE RULES OF ORGANIZATION 3 S e c . 2 6 2 .1 — B asis L o c a t i o n ........... 3 S e c . 2 6 2 .2 — P r o c e d u r e (a ) Governors, Chairman, V ice Chair m an ....................................................... (b ) L ocation and business h o u r s .......... 3 3 S e c . 3 — C e n t r a l O r g a n i z a t i o n ...................... 3 S e c . 1— B asis and S c o p e ...................................... S e c . 2— C o m p o s it io n and (a ) (b ) (c) (d ) (e ) (f) Office o f the Executive Director . . Office o f the S e c r e t a r y ....................... Legal D ivision ..................................... D ivision o f Research and Statistics D ivision o f International Finance . D ivision o f Federal Reserve Bank Operations ........................................ ( g ) D ivision o f Supervision and Regu lation .................................................... (h ) D ivision o f Personnel Administra tion ....................................................... (i) Sec. Division of Administrative Services 3 3 3 3 4 4 4 4 4 (j) Office o f the C o n t r o ll e r .................... (k ) D ivision o f D ata P r o c e s s i n g .......... (1) Other p e r s o n n e l ................................... 4 5 5 4— F i e l d O r g a n i z a t i o n ........................... 5 (a ) Federal Reserve B a n k s ....................... (b ) Federal Reserve A g e n t s .................... 5 5 S e c . 5— D e l e g a t io n s A u t h o r i t y ........... 5 ................................................... 6 F ederal R eserv e Sy s t e m 7 A p p e n d ix M ap of of and Sc ope ............................. fo r R e g u l a t io n s (a) Notice .................................................... (b) Public p articipation .......................... (c) Preparation of draft and action by Board ............................................... (d) Effective dates .................................... (e) Exceptions as to notice or effective d a t e .................................................... S e c . 2 6 2 .3 — A p p l ic a t io n s 8 8 8 8 8 8 8 .............................. 9 Forms .................................................... Filing of applications........................ Analysis by s t a f f ................................. Action on ap p lication s...................... Notice of action ............................... Action at Board’s in itia tiv e............ General procedures for bank hold ing company and merger appli cations ............................................. (h) Special procedures for certain ap plications ........................................ 9 9 9 9 9 9 (a) (b) (c) (d) (e) (f) (g) S e c . 2 6 2 .4 — A d j u d ic a t io n H ea r in g and 10 F ormal ........................................... S e c . 2 6 2 .5 — A p p e a r a n c e S e c . 2 6 2 .6 — F o r m s w it h 9 P r a c t ic e . . .................................................. 10 10 10 RULES OF ORGANIZATION As revised effective March 1, 1973 SE C T IO N 1.— BASIS A N D SCO PE T hese Rules are issued by the Board o f G o v ernors o f the Federal Reserve System (the “Board”) pursuant to the requirement o f section 55 2 o f Title 5 o f the U nited States C ode that each agency shall publish in the Federal Register a description o f its central and field organization. SE C T IO N 2.— C O M P O SIT IO N A N D L O C A T IO N (a) Governors, Chairman, V ice Chairman. The Board consists o f seven members appointed by the President, by and with the advice and co n sent o f the Senate, for fourteen-year terms. T he mem bers o f the Board are required by law to devote their entire time to the business o f the Board. One o f them is designated by the President as Chairman and on e as V ice Chairman, to serve as such for terms o f four years. A t meetings, the Chairman presides or, in his absence, the V ice Chairman presides. In the absence o f the Chair man and V ice Chairman, the mem ber o f the Board present with the longest service acts as Chairman. T he Chairman o f the Board, subject to its supervision, is its active executive officer. The Board meets regularly and frequently to co n sider matters relating to monetary and credit policies, regulatory and supervisory duties with which it has been charged by the Congress, and administrative and other questions arising in the conduct o f the work o f the Board. (b) Location and business hours. T h e principal offices o f the Board are in the Federal Reserve Building, 20th Street and Constitution A venue, N .W ., Washington, D . C. 2 05 51 . T h e Board’s regular business hours are from 8:45 a.m. to 5:15 p.m. each w eekday except Saturday; but such business hours m ay be changed from time to time. SE C T IO N 3.— C E N T R A L O R G A N IZ A T IO N T he Board’s central organization consists o f the members o f the Board and the follow ing Offices, Divisions, and officials: (a) Office of the Executive Director is headed by an Executive D irector w hose functions include the coordination and overall planning o f the activities o f the staff in carrying out the Board’s programs, and the handling o f administrative affairs under the direction o f the Chairman o f the Board and other Board members with dele gated functions. T he Executive Director is respon sible to the Board for the direct supervision o f the Office o f the Secretary, D ivision o f Personnel Administration, Office o f the Controller, D ivision o f Administrative Services, D ivision o f Data Processing, and for certain special programs. T he D irector has administrative and coordination re sponsibilities for the Legal D ivision, D ivision o f Federal Bank Operations, D ivision o f Research and Statistics, D ivision o f International Finance, Division o f Supervision and Regulation, and for the Federal Reserve Labor Relations Panel. In addition, the Executive Director is concerned with coordination o f the functions o f the Board and its D ivisions with the activities o f the Federal R e serve Banks, operating through the appropriate D ivision o f the Board’s staff, and w ith the C on ference o f Chairmen o f the Federal Reserve Banks, the C onference o f Presidents o f the F ed eral Reserve Banks, and other System organiza tions. (b) Office o f the Secretary, headed by the Board’s Secretary, coordinates items regarding Board actions, prepares agendas for Board m eet ings, and im plements actions taken. This Office clears and conducts official correspondence o f the Board, and is charged with responsibility for maintaining and providing reference service to the official records o f the Board and o f the Federal Open Market Committee. (c) Legal Division, headed by the Board’s Gen eral Counsel, advises and assists the Board with respect to legal aspects o f its daily operations, including applicable statutes, regulations, applica tions, interpretations, opinions, orders, hearings, litigation, and legislation. (d) Division of Research and Statistics, headed RULES OF ORGANIZATION by a Director, provides the Board and the Federal Open Market Committee with the econom ic analysis and information needed for current oper ations, for the formulation o f monetary and credit policies, and for the exercise o f responsibilities with regard to bank regulation; prepares, pub lishes, and interprets a variety of statistical series in the financial and nonfinancial fields; conducts basic research relating to the effects o f monetary policy on econom ic activity and prices, and to the effects o f financial regulation on the structure and functioning o f financial markets. (e) Division of International Finance, headed by a Director, advises and assists the Board on international financial, banking, and econom ic matters and conducts research in this field. It carries on staff work in connection with the supervision o f foreign operations of the Federal Reserve System, the membership o f the Chairman o f the Board on the N ational Advisory Council on International Monetary and Financial Policies, and the administration o f the Voluntary Foreign Credit Restraint Program. (f) Division of Federal Reserve Bank Opera tions, headed by a Director, advises and assists the Board with respect to matters concerning the planning and programs for operation o f the F ed eral Reserve Banks. The Division monitors the im plem entation and achievement o f such pro grams and informs the Board o f the status o f each program. It is responsible for the exam ina tion o f the Federal Reserve Banks and the System Open Market Account; reviews and appraises Reserve Bank audit activities; provides an ap praisal o f Reserve Bank building programs; pro vides analysis and recomm endations for Board policy in the payments mechanism area; admin isters an accounting system for collection and analysis o f budget and expense data; reviews the lending and credit activities o f the Reserve Banks; and maintains liaison with the Treasury and other G overnm ent agencies on fiscal agency operations and with various interested parties on payments m echanism matters. T he D ivision also coordinates the printing, issuance, and redemption o f Federal Reserve notes and is jointly responsible with the Bureau o f the Mint for the production and dis tribution o f coin. (g) Division of Supervision and Regulation, headed by a Director, coordinates the bank super visory functions o f the System and evaluates the examination procedures o f the Reserve Banks; exercises general supervision o f the comm ercial and fiduciary activities o f State mem ber banks; administers the supervisory features o f laws and regulations relating to affiliates and bank holding companies; supervises various foreign banking activities o f member banks and foreign banking and financing corporations; administers the public disclosure provisions o f the Securities Exchange A ct o f 1934, as amended, in their application to State member banks, and the provisions o f the A ct giving responsibility to the Board for regu lating security credit transactions; drafts regula tions pursuant to the Truth in Lending A ct for financial institutions and other firms engaged in consumer lending and administers the regulations in their application to State m em ber banks; administers the provisions o f the Fair Credit R e porting Act, the Currency and Foreign Trans actions Reporting Act, and the Civil Rights Act o f 1968 in their application to State member banks; processes and presents to the Board appli cations filed pursuant to the Bank H olding C om pany A ct o f 1956, as amended, and the Bank Merger A ct and various other applications sub mitted under the provisions o f the Federal R e serve A c t or related statutes; and advises the Board regarding developments in banking and bank supervisory policies and procedures. (h) D ivision o f Personnel Administration, headed by a Director, is responsible for the developm ent and im plementation o f Board per sonnel policies and programs, serves as the Board’s personnel security office, and advises and assists the Board on personnel matters pertaining to the Federal Reserve Banks. (i) Division of Administrative Services, headed by a Director, serves as the central procurement, duplicating, comm unications, and service unit o f the Board and advises and assists the Board with respect to such matters. It also performs various administrative functions, including the distribution o f Board publications and the operation o f the Board’s building and other facilities. (j) Office of the Controller, headed by the Board’s Controller, is responsible for maintaining an effective internal financial managem ent sys tem, including budgeting, accounting, reporting, internal and contract auditing, and operational analyses; determining assessments on the Federal Reserve Banks for funds to cover expenses of RULES OF ORGANIZATION the Board; receiving and disbursing the Board’s funds; and handling reimbursement to the Treas ury Department for the printing, issuance, and redemption o f Federal Reserve notes. (k) Division of Data Processing, headed by a Director, supports the Board organization through the developm ent, operation, and maintenance of information processing systems. Activities include systems and mathematical statistical analysis, co m puter programming, equipment operation, data and production control, advanced planning and im plementation o f computer systems and c o m munication networks. T he D ivision develops, co l lects, and processes statistical information on banking developments and on the condition o f Federal Reserve Banks and member banks; and designs and produces graphics used in econom ic analysis and information presentation. (1) Other personnel. In addition to the D ivisions mentioned above, the staff o f the Board includes Advisers, Assistants, and Special Assistants to the Board. T he Federal Reserve B u l l e t i n is issued monthly under the direction o f a Staff Editorial Committee. T he Board does not em ploy admin istrative law judges or hearing officers as regular members o f its staff; but, in accordance with applicable provisions o f law and in individual cases as the need may arise, the Board obtains and utilizes administrative law judges and hearing officers, w hose functions in such capacity are appropriately separated, as required by law, from investigative and prosecuting functions o f the staff. SE C T IO N 4.— F IE L D O R G A N IZ A T IO N (a) Federal Reserve Banks. The U nited States is divided into twelve Federal Reserve districts. In one city in each Federal Reserve district there is located a Federal Reserve Bank; in ten o f the districts there are one or more branches o f the Federal Reserve Bank in other cities; and in some districts there are offices or facilities with spe cialized functions. Each Federal Reserve Bank is a separate legal entity, created pursuant to the Federal Reserve A c t and operating under the §§ 3-5 general supervision of the Board. T he locations o f the twelve Federal Reserve Banks and the twenty-four branches and the boundaries o f the Federal Reserve district and branch territories are shown in the Appendix. Each Federal Reserve Bank, in addition to its other duties, carries out local functions for the Board pursuant to instruc tions o f the Board, and in m any matters acts as the Board’s field representative in the Bank’s district. Each Reserve Bank assists in the regional administration o f the Board’s regulations and policies, keeps the Board informed o f local co n ditions, and recomm ends such actions as it thinks appropriate in particular cases. In general, persons concerned with Federal Reserve matters should deal in the first instance with the Federal Reserve Bank o f the appropriate district or a branch thereof, and the Board requests all persons to follow this procedure. (b) Federal Reserve Agents. Each Federal R e serve Bank has nine directors, three o f w hom are appointed by the Board. One o f the directors ap pointed by the Board is designated by the Board as Chairman o f the Board o f Directors o f the Bank and as Federal Reserve Agent. H e acts as the Board’s official representative and maintains a local office of the Board on the premises of the Federal Reserve Bank. SE C T IO N 5.— D E L E G A T IO N S O F A U T H O R IT Y T he Board does not delegate any o f its func tions relating to rule-making or pertaining prin cipally to monetary or credit policies or involving any questions of general policy. How ever, the Board delegates certain o f its supervisory and other functions prescribed by statute or regula tions o f the Board to its members or em ployees or to the Federal Reserve Banks as provided in its Rules Regarding Delegation o f Authority (12 C F R 265). In addition, the Board delegates to the Federal Reserve Banks certain functions not pro vided for by statute or regulations o f the Board, including authority to extend the time within w hich certain transactions may be consummated. APPENDIX Federal Reserve Bank Address BOSTON 30 Pearl Street (Boston, Massachusetts 02106) N EW YORK Buffalo Branch 33 Liberty Street (Federal Reserve P.O. Station, New York, New York 10045) 160 Delaware Avenue (P.O. Box 961, Buffalo, New York 14240) P H IL A D EL P H IA 925 Chestnut Street (Philadelphia, Pennsylvania 19101) CLEV ELA N D Cincinnati Branch Pittsburgh Branch 1455 East Sixth Street (P.O. Box 6387, Cleveland, Ohio 44101) 105 West Fourth Street (P.O. Box 999, Cincinnati, Ohio 45201) 717 G rant Street (P.O. Box 867, Pittsburgh, Pennsylvania 15230) R IC H M O N D Baltimore Branch Charlotte Branch Culpeper Communications Center 100 N orth Ninth Street (P.O. Box 27622, Richmond, Virginia 23261) 114-120 East Lexington Street (P.O. Box 1378, Baltimore, Maryland 21203) 401 South Tryon Street (Charlotte, N orth Carolina 28201) P.O. Drawer 20 (Culpeper, Virginia 22701) A TLA N TA Birmingham Branch Jacksonville Branch Nashville Branch New Orleans Branch Miami Office 104 Marietta Street N. W. (Atlanta, Georgia 30303) 1801 Fifth Avenue, N orth (P.O. Box 2574, Birmingham, Alabama 35202) 515 Julia Street (P.O. Box 929, Jacksonville, Florida 32203) 301 Eighth Avenue, N orth (Nashville, Tennessee 37203) 525 St. Charles Avenue (P.O. Box 61630, New Orleans, Louisiana 70161) P.O. Box 847, (M iami, Florida 33152) C H ICA GO Detroit Branch 230 South LaSalle Street (P.O. Box 834, Chicago, Illinois 60690) 160 F ort Street, West (P.O. Box 1059, Detroit, Michigan 48231) ST. LOUIS Little Rock Branch Louisville Branch Memphis Branch 411 325 410 200 M INN EA POLIS Helena Branch 73 South Fifth Street (Minneapolis, Minnesota 55480) 400 N orth Park Avenue (Helena, M ontana 59601) KANSAS CITY Denver Branch O klahom a City Branch Omaha Branch 925 G rand Avenue (Federal Reserve Station, Kansas City, Missouri 64198) 1020 16th Street (P.O. Box 5228, Terminal Annex, Denver Colorado 80217) 226 Northwest Third Street (P.O. Box 25129, Oklahoma City, Oklahoma 73125) 102 South Seventeenth Street (Omaha, Nebraska 68102) DALLAS El Paso Branch Houston Branch San Antonio Branch 400 South Akard Street (Station K, Dallas, Texas 75222) 301 East Main Street (P.O. Box 100, El Paso, Texas 79999) 1701 San Jacinto Street (P.O. Box 2578, Houston, Texas 77001) 126 East Nueva Street (P.O. Box 1471, San Antonio, Texas 78295) SAN FR A N CISCO Los Angeles Branch 400 Sansome Street (P.O. Box 7702, San Francisco, California 94120) 409 West Olympic Boulevard (P.O. Box 2077, Terminal Annex, Los Angeles, California 90051) 915 S. W. Stark Street (P.O. Box 3436, Portland, Oregon 97208) 120 South State Street (P.O. Box 780. Salt Lake City, U tah 84110) 1015 Second Avenue (P.O. Box 3567, Seattle, Washington 98124) Portland Branch Salt Lake City Branch Seattle Branch Locust Street (P.O. Box 442, St. Louis, Missouri 63166) West Capitol Avenue (P.O. Box 1261, Little Rock, Arkansas 72203) South Fifth Street (P.O. Box 899, Louisville, Kentucky 40201) N orth Main Street (P.O. Box 407, Memphis, Tennessee 38101) 6 B O U N D A R IE S O F F E D E R A L R E SE R V E D IST R IC T S A N D T H E IR B R A N C H T ER R IT O R IE S ☆ C° THE FEDERAL RESERV E SYSTEM c) £ Legend Boundaries of Federal Reserve Districts ----- Boundaries of Federal Reserve Branch Territories o Board of Governors of the Federal Reserve System ® Federal Reserve Bank Cities • Federal Reserve Branch Cities Federal Reserve Bank Facilities RULES OF PROCEDURE As revised effective March 1, 1973 S E C T IO N 262.1— BASIS A N D SCO PE This Part is issued pursuant to section 552 of Title 5 o f the U nited States Code, w hich requires that every agency shall publish in the Federal Register statements o f the general course and method by which its functions are channeled and determined, rules o f procedure, and descriptions o f forms available or the places at w hich forms may be obtained. SE C T IO N 26 2 .2 — P R O C E D U R E F O R R E G U L A T IO N S (a) N o tice. N otices of proposed regulations of the Board o f Governors o f the Federal Reserve System (the “Board”) or amendm ents thereto are published in the Federal Register, except as specified in paragraph (e) o f this section or other wise excepted by law. Such notices include a statement o f the terms o f the proposed regulations or amendm ents and a description o f the subjects and issues involved; but the giving of such notices does not necessarily indicate the Board’s final approval of any feature o f any such proposal. The notices also include a reference to the au thority for the proposed regulations or amend ments and a statement o f the time, place, and nature o f public participation. (b) Public participation. The usual method of public submission of data, views, or arguments is in writing. It is ordinarily preferable that they be sent to the Secretary o f the Board, W ashington, D . C. 2055 1, with copies to the appropriate F ed eral Reserve Bank. The locations o f the twelve Federal Reserve Banks and the boundaries o f the Federal Reserve districts are shown in the A pp en dix to the Board’s Rules o f Organization. Such material will be made available for inspection and copying upon request, except as provided in § 261.6(a) o f this chapter regarding availability o f information. (c) Preparation o f draft and action by Board. In the light o f consideration of all relevant matter presented or ascertained, the appropriate division o f the Board’s staff, in collaboration with other divisions, prepares drafts o f proposed regulations or amendments, and the staff submits them to the Board. T he Board takes such action as it deems appropriate in the public interest. A n y other docu ments that may be necessary to carry out any decision by the Board in the matter are usually prepared by the Legal Division, in collaboration with the other divisions o f the staff. (d) Effective dates. A n y substantive regulation or amendm ent thereto issued by the Board is pub lished not less than 30 days prior to the effective date thereof, except as specified in paragraph (e) o f this section or as otherwise excepted by law. (e) E xceptions as to notice or effective date. In certain situations, notice and public participa tion with respect to proposed regulations may be impracticable, unnecessary, contrary to the public interest, or otherwise not required in the public interest, or there may be reason and good cause in the public interest why the effective date should not be deferred for 30 days. The reason or rea sons in such cases usually are that such notice, public participation, or deferment o f effective date would prevent the action from becom ing effective as promptly as necessary in the public interest, would permit speculators or others to reap unfair profits or to interfere with the Board’s actions taken with a view to accom m odating co m merce and business and with regard to their bear ing upon the general credit situation o f the country, would provoke other consequences con trary to the public interest, would unreasonably interfere with the Board’s necessary functions with respect to managem ent or personnel, would not aid the persons affected, or would otherwise serve no useful purpose. The follow ing m ay be mentioned as some examples o f situations in which advance notice or deferred effective date, or both, will ordinarily be omitted in the public interest: T he review and determination o f discount rates established by Federal Reserve Banks, and changes in general requirements regarding reserves of member banks, m axim um interest rates on RULES OF PROCEDURE time and savings deposits, or credit for purchasing or carrying securities. SECTION 262.3— APPLICATIONS (a) Forms. Any application, request, or petition (hereafter referred to as “application”) for the approval, authority, determination, or permission of the Board with respect to any action for which such approval, authority, determination, or per mission is required by law or regulation of the Board (including actions authorized to be taken by a Federal Reserve Bank or others on behalf of the Board pursuant to authority delegated under Part 265 of this chapter) shall be submitted in accordance with the pertinent form, if any, prescribed by the Board. Copies of any such form and details regarding information to be included therein may be obtained from any Federal Re serve Bank. Any application for which no form is prescribed should be signed by the person mak ing the application or by his duly authorized agent, should state the facts involved, the action requested, and the applicant’s interest in the matter, and should indicate the reasons why the application should be granted. Applications for access to, or copying of, records of the Board should be submitted as provided in § 261.4(d) of this chapter. (b) Filing o f applications. Any application should be sent to the Federal Reserve Bank of the district in which the applicant is located, except as otherwise specified on application forms, and that Bank will forward it to the Board when appropriate. (c) A nalysis by staff. In every case, the Reserve Bank makes such investigation as may be neces sary, and, except when acting pursuant to dele gated authority, reports the relevant facts, with its recommendation, to the Board. In the light of consideration of all relevant matter presented or ascertained, the Board’s staff prepares and sub mits to the Board comments on the subject. (d) A ction on applications. The Board takes such action as it deems appropriate in the public interest. Such documents as may be necessary to carry out any decision by the Board are prepared by the Board’s staff. With respect to actions taken by a Federal Reserve Bank on behalf of the Board under delegated authority, statements and necessary documents are prepared by the staff of such Federal Reserve Bank. §§ 262.2-262.3 (e) N o tic e o f action. Prompt notice is given to the applicant of the granting or denial in whole or in part of any application. In the case of a denial, except in affirming a prior denial or where the denial is self-explanatory, such notice is accompanied by a simple statement of the grounds for such action. (f) A ction at Board’s initiative. When the Board, without receiving an application, takes action with respect to any matter as to which opportunity for hearing is not required by statute or Board regulation, similar procedure is followed, including investigations, reports, and recommenda tions by the Board’s staff and by the Reserve Banks, where appropriate. (g) G eneral procedures for bank holding com pany and m erger applications. In addition to pro cedures applicable under other provisions of this Part, the following procedures are applicable in connection with the Board’s consideration of applications under sections 3 and 4 of the Bank Holding Company A ct of 1956 (12 U.S.C. § 1842 and § 1843), hereafter referred to as “section 3 applications” or “section 4 applications”, and of applications under section 18(c) of the Federal Deposit Insurance Act (12 U.S.C. § 1823), here after called “merger applications.” Except as otherwise indicated, the following procedures ap ply to all such applications. (1) The Board issues each week a list that identifies section 3 and section 4 and merger applications received and acted upon during the preceding week by the Board or the Reserve Banks pursuant to delegated authority. N otice of receipt of all section 3 applications and of sec tion 4(c)(8) applications acted on by the Board is published in the Federal Register. (2) If a hearing is required by law or if the Board determines that a formal hearing for the purpose o f taking evidence is desirable, the Board issues an order for such a hearing, and notice thereof is published in the Federal Register. Any such formal hearing is conducted by an adminis trative law judge in accordance with the Board’s Rules of Practice for Formal Hearings (Part 263 of this chapter) except that, unless otherwise ordered by the Board, such a hearing is public. (3) In any case in which a formal hearing is not ordered by the Board, the Board may afford the applicant and other properly interested per sons (including Governmental agencies) an oppor §§ 262.3-262.6 tunity to present views orally before the Board or its designated representative. U nless otherwise ordered by the Board, any such oral presentation is public and notice o f such public proceeding is published in the Federal Register. (4) Each action taken by the Board on an application is embodied in an Order that indicates the votes o f members o f the Board. The Order either contains reasons for the Board’s action (i.e., an Expanded Order) or is accompanied by a Statement o f the reasons for the Board’s action. Both the Order and any accompanying Statement are released to the press. Each such Order is published in the Federal Register. Each Order accompanied by a Statement and any Order o f general interest, together with a list o f other Orders, are published in the Federal Reserve B u l l e t i n . Action by a Reserve Bank under dele gated authority as provided for under Part 265 o f this chapter is reflected in a letter o f notification to the applicant. (5) A fter action by the Board on an applica tion, the Board will not grant any request for reconsideration o f its action unless the request presents relevant facts that, for good cause shown, were not previously presented to the Board, or unless it otherwise appears to the Board that reconsideration w ould be appropriate. (6) U nless the Board shall otherwise direct, each section 3 and section 4 and merger applica tion is m ade available for inspection by the public except for portions thereof as to w hich the Board determines that nondisclosure is warranted under section 552(b) o f Title 5 o f the U nited States Code. (h) Special procedures for certain applications. T he follow ing types of applications require pro cedures exclusive of, or in addition to, those described in (g)(l)-(6) above. (1) Special rules pertaining to section 3 and merger applications follows: (i) Each Order of the Board and each letter o f notification by a Reserve Bank acting pursuant to delegated authority ap proving a section 3 application includes, pursuant to the A ct approved July 1, 1966 (12 U .S.C. § 1849(b)), a requirement that the transaction ap proved shall not be consumm ated before the thirtieth calendar day follow ing the date o f such Order, (ii) Each Order o f the Board approving a merger application includes, pursuant to the A ct approved February 21, 1966 (12 U .S.C. RULES OF PROCEDURE § 1828(c)(l)(6)), a requirement that the trans action approved shall not be consumm ated before the thirtieth calendar day follow ing the date o f such Order, except as the Board m ay otherwise determine pursuant to emergency situations as to which the A ct permits consum m ation at earlier dates, (iii) Each Order or each letter o f notifica tion approving an application also includes, as a condition o f approval, a requirement that the transaction approved shall be consumm ated within three m onths and, in the case o f acquisition by a holding com pany o f stock of a new ly organized bank, a requirement that such bank shall be opened for business within six months, but such periods m ay be extended for good cause by the Board (or by the appropriate Federal Reserve Bank where authority to grant such extensions is delegated to the Reserve Bank). (2) F or special rules governing procedures for section 4(c)(8) applications, refer to § 225.4(a)-(c) o f this chapter. (3) For special rules governing procedures for section 4(c)(9) applications, refer to § 225.4(g) o f this chapter. (4) For special rules governing procedures for section 4(c)(12) applications, refer to § 225.4(d) o f this chapter. (5) For special rules governing procedures for section 4(c)(13) applications, refer to § 225.4(f) o f this chapter. SE C T IO N 2 6 2.4— A D J U D IC A T IO N W IT H F O R M A L H E A R IN G In connection with adjudication with respect to which a formal hearing is required by law or is ordered by the Board, the procedure is set forth in Part 263 o f this chapter, entitled “Rules o f Practice for Formal Hearings.” SE CT IO N 2 62 .5— A P P E A R A N C E A N D P R A C T IC E Appearance and practice before the Board in all matters are governed by § 263.3 o f this chapter. SE C T IO N 2 6 2.6— F O R M S Necessary forms to be used in connection with applications and other matters are available at the Federal Reserve Banks. A list o f all such forms, which is reviewed and revised periodically, may be obtained from any Federal Reserve Bank.