12 USC 5468 - Requests for information, reports, or records

U.S Code last checked for updates: Nov 24, 2024

§ 5468.

Requests for information, reports, or records

(a)

Information to assess systemic importance

(1)

Financial market utilities

(2)

Financial institutions engaged in payment, clearing, or settlement activities

(b)

Reporting after designation

(1)

Designated financial market utilities

(2)

Financial institutions subject to standards for designated activities

The Board of Governors and the Council may each require 1 or more financial institutions subject to the standards prescribed under section 5464(a) of this title for a designated activity to submit, in such frequency and form as deemed necessary by the Board of Governors or the Council, reports and data to the Board of Governors and the Council solely with respect to the conduct of the designated activity and solely to assess whether—

(A)

the rules, orders, or standards prescribed under section 5464(a) of this title with respect to the designated activity appropriately address the risks to the financial system presented by such activity; and

(B)

the financial institutions are in compliance with this subchapter and the rules and orders prescribed under section 5464(a) of this title with respect to the designated activity.

(3)

Limitation

(c)

Coordination with appropriate Federal Supervisory Agency

(1)

Advance coordination

(2)

Supervisory reports

(d)

Timing of response from appropriate Federal Supervisory Agency

(e)

Sharing of information

(1)

Material concerns

Notwithstanding any other provision of law, the Board of Governors, the Council, the appropriate financial regulator, and any Supervisory Agency are authorized to—

(A)

promptly notify each other of material concerns about a designated financial market utility or any financial institution engaged in designated activities; and

(B)

share appropriate reports, information, or data relating to such concerns.

(2)

Other information

(f)

Privilege maintained

(g)

Disclosure exemption

(h)

Data standards

(1)

Requirement

(2)

Consistency

(Pub. L. 111–203, title VIII, § 809, July 21, 2010, 124 Stat. 1818; Pub. L. 117–263, div. E, title LVIII, § 5861(d), Dec. 23, 2022, 136 Stat. 3435.)

cite as: 12 USC 5468