Sec.

(a) The requirement of exception 10 (R.S. 5200, 12 U.S.C. 84(10)) that a guaranty or a commitment or agreement to take over or to purchase, referred to collectively herein as "agreement," must be unconditional means that the protection afforded to the bank thereby against loss resulting from factors beyond its control, must not be substantially diminished or impaired. This protection is not materially diminished or impaired by procedural requirements (for example, a requirement that notification of a default be given by the lender to the guarantor within

20 days of its occurrence, even though demand for payment under the guaranty cannot be made until after the expiration of 90 days) or by requirements of good faith on the part of the bank. Such requirements, therefore, would not prevent an agreement from being unconditional for the purposes of this statute.

(b) An agreement is not unconditional within the meaning of Exception 10 if liability thereunder (1) is contingent upon the happening of an event or a condition precedent not within the control of the bank, or (2) is subject to defeasance by a contingency or a condition subsequent not within the control of the bank.

(c) An agreement may be unconditional even though it is to take over a loan only in the event of default. The requirement of the exception that the agreement must be unconditional and must be performed by payment in cash within sixty days after demand does not imply that there must be a right to demand performance prior to default.

Sec.

4.1

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4.2

4.3

4.4

4.5

4.6

4.7

4.8

4.9

4.10

4.11

4.12

4.13

4.14

4.15

4.16

4.17

4.18

4.19

Authority.

Central and field organization: delegations. Regulations.

Organization of national bank. Conversion of state bank into national bank.

Merger, consolidation, purchase, and assumption.

Establishment of branch banks and seasonal agencies.

Change of location of main or branch. office.

Change of bank name.

Conversion of national bank into state

bank.

Voluntary liquidation.

Receivership and conservatorship.

Supervision of bank operations.
Rules of general application.
Forms and instructions.

Publications available to public.

Orders, opinions, etc. available to public.

Other documents available to public; exceptions.

Obtaining access to public documents. Other rules of disclosure.

Testimony and production of documents in court.

§ 4.1 Authority.

This part is issued under the authority of the national banking laws (12 U.S.C., 1 et seq.). Portions of this part are issued pursuant to the provisions of the Administrative Procedure Act (5 U.S.C. 552).

[§ 4.1 amended Jul. 1, 1967, 32 Fed. Reg. no. 127]

§4.1a Central and field organization; delegations.

(a) Central office-(1) Comptroller. The Comptroller of the Currency is the head of the Office of Comptroller of the Currency. He is appointed by the President, by and with the advice and consent of the Senate, for a term of 5 years. His office is in the Treasury Department, 15th Street and Pennsylvania Ave

nue NW., Washington, D.C. 20220. He is assisted by the following officials who are responsible to him.

(2) First Deputy Comptroller. The First Deputy Comptroller of the Currency performs such duties as the Comptroller prescribes, including general supervision of all matters pertaining to all National Bank Regions. He is aided by an Assistant Chief National Bank Examiner. During a vacancy in the Office of the Comptroller or during the absence or disability of the Comptroller, he possesses the powers and performs the duties of the Comptroller.

(3) Administrative Assistant. The Administrative Assistant to the Comptroller performs such duties as the Comptroller prescribes, including general supervision of all internal administrative matters.

(4) Chief Counsel. The Chief Counsel is in charge of the Law Department. He advises and assists the Comptroller with respect to all legal matters concerning the functions, activities, and operations of the Office of Comptroller and all national banks.

(5) Deputies Comptroller. Two Deputies Comptroller of the Currency perform such duties as the Comptroller prescribes, including general supervision of all matters pertaining to the National Bank Regions for which each is responsible. Each such Deputy is aided by an Assistant Chief National Bank Examiner.

(6) Chief National Bank Examiner. The Chief National Bank Examiner performs such duties as the Comptroller prescribes, including general supervision of all examining personnel and of all matters pertaining to the National Bank Regions for which he is responsible. He is aided by an Assistant Chief National Bank Examiner.

(7) Deputy Comptroller (Economics). The Deputy Comptroller for Economics performs such duties relating to matters of economic studies as the Comptroller prescribes, including supervision of the Department of Banking and Economic Research and the Division of Statistics and Data Processing.

(8) Deputy Comptroller (Mergers and Branches). The Deputy Comptroller for Mergers and Branches performs such duties

relating to branches, mergers, and other matters pertaining to the structure of the national banking system as the Comptroller prescribes.

The

(9) Deputy Comptroller (Trusts). Deputy Comptroller for Trusts performs such duties as the Comptroller prescribes, including supervision of the Trust Division and all trust examiners.

(10) Deputy Comptroller (F.D.I.C. Affairs). The Deputy Comptroller for F.D.I.C. Affairs performs such duties relating to the Federal Deposit Insurance Corporation as the Comptroller prescribes.

(11) Special Assistant (Congressional Affairs). The Special Assistant for Congressional Affairs performs such duties relating to Congressional liaison as the Comptroller prescribes.

(12) Special Assistant (Public Affairs). The Special Assistant for Public Affairs performs such duties relating to press and similar matters as the Comptroller prescribes.

(13) Special Assistant. The Special Assistant to the Comptroller performs such duties as the Comptroller prescribes.

(14) Bank Organization Director. The Director, Bank Organization Division, has supervision over the Bank Organization Division.

(15) International Director. The Director, International Division, has supervision over the International Division and all national bank examiners-international.

(16) Law Department. The Law Department handles all legal matters in the Office of Comptroller, including interpretation of national banking laws, related statutes and proposed legislation, implementation and development of regulations and rulings applicable to operations of national banks, corporate organization of national banks, branching, mergers, capital charges, and other matters of national bank corporate functions. Generally, it assists the Department of Justice in litigation involving the Comptroller's Office. It, however, represents the Comptroller in bank merger litigation. The Chief Counsel is aided by a Deputy Chief Counsel and five Associate Chief Counsels.

(17) Research Department. The Department of Banking and Economic Research studies various banking problems and reports its findings to the Comptroller. It publishes the National Banking Review and, from time

to time, monographs and books dealing with banking and monetary subjects.

(18) Organization Division. The Bank Organization Division processes applications for national bank charters, branches, mergers, consolidations, purchases of assets and assumption of liabilities, resulting in national banks, and capital changes. The Director is aided by an Assistant Director, Bank Organization Division, who is responsible for merger, consolidation, and purchase and assumption matters. The Division also has a New Bank Section, a Branch Section, and a Capital Increase Section.

(19) International Division. The International Division is responsible for the examination of national bank branch offices located overseas.

(20) Trust Division. The Trust Division is responsible for supervision and examination of trust departments of national banks. It processes applications for fiduciary powers and monitors common trust funds of state and national banks. The Deputy Comptroller for Trusts is aided by a Chief Representative in Trusts.

(21) Administrative Activities. The administrative activities of the Office of Comptroller of the Currency are under the charge of the Administrative Assistant to the Comptroller. He is aided by a Deputy Administrative Assistant (Fiscal Management) and a Deputy Administrative Assistant (Personnel).

(b) Field offices. (1) Fourteen National Bank Regions cover the United States and the Virgin Islands. The office address of and the geographic area covered by each is as follows:

(2) A Regional Administrator of National Banks is in charge of each National Bank Region. He has general supervision over all matters pertaining to his region. He is assisted by one or more Deputy Regional Administrators, a Regional Economist, and, in some cases, a Regional Counsel.

(c) Delegations. The Comptroller of the Currency has delegated to each Regional Administrator final authority to approve (but not to disapprove)—

(1) Capital increases through stock dividends or sales of additional common stock. (2) Cash dividends, and

(3) Increases in investments in bank buildings and other fixed assets.

[§ 4.1a added Jul. 1, 1967, 32 Fed. Reg. no. 127]

§ 4.1b Regulations.

(a) Public notice. The Comptroller of the Currency publishes in the FEDERAL REGISTER, except as provided in paragraph (f) of this section, notices of proposed regulations. A notice states the terms or substance of a proposed regulation or a description of the subject or issue involved. It also refers to the authority under which the regulation is proposed and states the time, place, and nature of the public proceeding applicable thereto.

(b) Public participation. Interested persons are afforded an opportunity to participate in the making of a proposed regulation, except as provided in paragraph (f) of this section or otherwise excepted by law. Such participation consists of submission of written data, views, or arguments and, if the Comptroller specifically provides, an opportunity for oral presentation.

(c) Petition. An interested person may seek issuance, amendment, or repeal of a regulation of the Comptroller. He should submit a written request which sets forth a complete and concise statement of his interest in the subject matter and the reason his request should be granted.

(d) Formulation. After consideration of all relevant matters, the Comptroller takes such action with respect to the proposed regulation as he deems appropriate. If a regulation is adopted, a concise general statement of its basis and purpose is set forth.

(e) Effective date. A regulation issued by the Comptroller is published not less than 30 days prior to the effective date thereof.

(f) Exceptions. If the Comptroller finds that notice of and public participation in a proposed regulation is impractical, unnecessary, or contrary to the public interest, or there is good cause why the effective date thereof should not be deferred for 30 days or any shorter period, the provisions of this section shall be inapplicable and any such regulation, when adopted, will incorporate such findings therein.

[§ 4.1b added Jul. 1, 1967, 32 Fed. Reg. no. 127]

§ 4.2 Organization of national bank.

(a) Application. Persons desiring to organize a national bank should submit to the Re