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CHAPTER V-OFFICE OF THRIFT SUPERVISION,

DEPARTMENT OF THE TREASURY

EDITORIAL NOTE: Nomenclature changes to Chapter V appear at 59 FR 18475, Apr. 19, 1994, and at 60 FR 66715, Dec. 26, 1995.

Part 500 502 503 505 506

Page

5 6 10 12

13

508

14

509

17 40

510 512

513 516 517 528

Agency organization and functions
Assessments and fees ....
Privacy Act
Freedom of Information Act
Information collection requirements under the Pa-

perwork Reduction Act
Removals, suspensions, and prohibitions where a

crime is charged or proven
Rules of practice and procedure in adjudicatory

proceedings ....
Miscellaneous organizational regulations
Rules for investigative proceedings and formal ex-

amination proceedings
Practice before the Office
Application processing procedures
Contracting outreach programs
Nondiscrimination requirements
Disclosure and reporting of CRA-related agree-

ments
Prohibited consumer credit practices
Consumer protection in sales of insurance
Definitions for regulations affecting federal sav-

ings associations
Federal mutual savings associations-Incorpora-

tion, organization, and conversion
Federal mutual savings associations-Charter and

bylaws
Federal savings associations—Operations
Federal mutual savings associations—Merger, dis-

solution, reorganization, and conversion
Fiduciary powers of savings associations
Recordkeeping and confirmation requirements for

securities transactions

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533

535 536 541

72 85 87

91

543

93

544

100 107

545 546

114 116

550 551

127 Page

135 154 155

156 157 168

Part
552 Federal stock associations-Incorporation, organi-

zation, and conversion
555 Electronic operations
557 Deposits
558 Possession by conservators and receivers for Fed-

eral and State savings associations 559 Subordinate organizations 560 Lending and investment 561 Definitions for regulations affecting all savings as

sociations 562 Regulatory reporting standards 563 Savings associations Operations 563b Conversions from mutual to stock form 563c Accounting requirements ....... 563d Securities of savings associations 563e Community reinvestment ...... 563f Management official interlocks 563g Securities offerings 564 Appraisals 565 Prompt corrective action 567 Capital 568 Security procedures under the Bank Protection

Act 569 Proxies 570 Safety and soundness guidelines and compliance

procedures 572 Loans in areas having special flood hazards 573 Privacy of consumer financial information 574 Acquisition of control of savings associations 575 Mutual holding companies 583 Definitions for regulations affecting savings and

loan holding companies 584 Regulated activities 590 Preemption of State usury laws .... 591 Preemption of State due-on-sale laws 592—599 [Reserved]

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358 366 370 387 409

432 434 441 446

or

PART 500—AGENCY

ellite offices), the regulation of mergORGANIZATION AND FUNCTIONS ers, conversions, and dissolutions in

volving such associations, the appointSubpart A-Functions and Responsibilities

ment of conservators and receivers for of the Director of the Office of Thrift Su

such associations, and the enforcement

of laws, regulations, pervision

conditions

against such associations or the offiSec.

cers or directors thereof by proceedings 500.1 General statement and statutory au- under section 5 of the Home Owners' thority.

Loan Act of 1933, as amended. 500.2-500.5 [Reserved]

(c) The Office regulates and examines 500.6 General statement concerning gender

savings associations within the authorrelated terminology.

ity conferred by the HOLA and the Subpart B-General Organization

FDIA and is authorized to enforce ap

plicable laws, regulations, or condi500.10 The OTS or The Office.

tions against savings associations or

the officers or directors thereof by proSubpart C-Procedures

ceedings under section 5 of the HOLA 500.30 General statement concerning proce

and section 8 of the FDIA as amended. dures and forms.

The Office also regulates and super

vises savings and loan holding compaAUTHORITY: 12 U.S.C. 1462a, 1463, 1464.

nies pursuant to the provisions of secSOURCE: 54 FR 49440, Nov. 30, 1989, unless tion 10 of the HOLA, as amended, and otherwise noted.

section 8 of the FDIA.

(d) The Office exercises supervisory Subpart A-Functions and Re- and regulatory authority over all

sponsibilities of the Director of building and loan or savings and loan the Office of Thrift Supervision

associations and similar institutions of

or doing business in or maintaining of$ 500.1 General statement and statu- fices in the District of Columbia. tory authority.

[54 FR 49440, Nov. 30, 1989, as amended at 60 (a) The Director of the Office of FR 66868, Dec. 27, 1995) Thrift Supervision (referred to in this chapter as “Director” or “Office") is

$ 500.2-500.5 [Reserved] responsible for the administration and

8500.6 General statement concerning enforcement of the Home Owners' Loan

gender-related terminology. Act of 1933, (“HOLA”), and applicable portions of the Federal Deposit Insur

The statutes administered by the Ofance Act and with respect to savings

fice and the rules, regulations, policies, associations subject to provisions of

practices, publications, directives, and the foregoing acts and title, the Bank guidelines promulgated pursuant to Protection Act of 1968, the Truth in

such statutes that prescribe the course Lending Act, and the Fair Credit Re- and methods to be followed by the Ofporting Act.

fice that inadvertently use or contain (b) The Office is authorized under

gender-related terminology are to be such rules and regulations as it may

interpreted as equally applicable to eiprescribe to provide for the organiza

ther sex. tion, incorporation, examination, operation, and regulation of Federal sav- Subpart B-General Organization ings associations. Under this authority, the Office's functions include, but

$ 500.10 The OTS or The Office. are not limited to, regulation of the The Office of Thrift Supervision (recorporate structure of such associa- ferred to as “OTS” or “Office'') is an tions, regulation of the distribution of office of the Department of the Treastheir earnings, regulation of their lend- ury. Its functions are to charter, supering and other investment powers, act- vise, regulate and examine Federal saving upon their applications for facility ings associations and to supervise, regoffices (including branch offices, lim- ulate and examine all savings associaited facilities, mobile facilities and sat- tions. It is directed by a Director, who

and timely notice of the scope and contents of the papers in question. (54 FR 49440, Nov. 30, 1989, as amended at 59 FR 53570, Oct. 25, 1994]

is appointed by the President and confirmed by the Senate to a five-year term. The Director directs and carries out the mission of the OTS with the assistance of offices reporting directly to him. One of these offices oversees the direct examination and supervision of savings associations by regulatory staff to ensure the safety and soundness of the industry. [57 FR 14335, Apr. 20, 1992, as amended at 60 FR 66869, Dec. 27, 1995)

PART 502-ASSESSMENTS AND FEES

Sec. 502.5 Who must pay assessments and fees?

Subpart C-Procedures

Subpart A-Assessments 502.10 How does OTS calculate my assess

ment? 502.15 How does OTS determine my size

component? 502.20 How does OTS determine my condi

tion component? 502.25 How does OTS determine my com

plexity component? 502.30 When must I pay my assessment? 502.35 How must I pay my assessment? 502.40 Can I get a refund or proration of my

assessment? 502.45 What if I do not pay my assessment

on time?

Subpart B-fees

502.50 What fees does OTS charge? 502.55 Where can I find OTS's fee schedule? 502.60 When will OTS adjust, add, waive, or

eliminate a fee? 502.65 When is an application fee due? 502.70 How must I pay an application fee? 502.75 What if I do not pay my fees on time?

AUTHORITY: 12 U.S.C. 1462a, 1463, 1467, 1467a.

SOURCE: 63 FR 65670, Nov. 30, 1998, unless otherwise noted.

$ 500.30 General statement concerning

procedures and forms. (a) Rules and procedures of the Office are published in chapter V of title 12 of the Code of Federal Regulations and in supplementary material published in the FEDERAL REGISTER. The statutes administered by the Office and the rules and regulations promulgated pursuant to such statutes prescribe the course and method of the formal procedures to be followed in proceedings of the Office. These are supplemented where practicable by informal procedures designed to aid the public and facilitate the execution of the Office's functions. The informal procedures of the Office consist principally in the rendering of advice and assistance to members of the public dealing with the Office. Opinions expressed by members of the staff do not constitute an official expression of the views of the Office, but do represent views of persons working with the provisions of the statute or regulation involved. The Director may, for good cause and to the extent permitted by statute, waive the applicability of any provision of this chapter.

(b) Information with respect to procedures, forms, and instructions of the Office is available to the public at the headquarters of the Office. Forms of concern to the public consist principally of periodic financial reports and of applications to the Office. The Office may from time to time require the completion by individuals or savings associations of miscellaneous forms, questionnaires, reports, or other papers. In each instance, the individual or savings association is given actual

$ 502.5 Who must pay assessments and

fees? (a) Authority. Section 9 of the HOLA, 12 U.S.C. 1467, authorizes the Director to charge assessments to recover the costs of examining savings associations and their affiliates, to charge fees to recover the costs of processing applications and other filings, and to charge fees to cover OTS's direct and indirect expenses in regulating savings associations and their affiliates.

(b) Assessments. If you are a savings association that OTS regulates o the last day of January or on the last day of July of each year, you must pay a semi-annual assessment due on that day. Subpart A of this part describes OTS's assessment procedures and requirements.

(c) Fees. Whether or not you are a savings association, if you make any

Subpart A-Assessments

filings with OTS or use OTS services, the Director may require you to pay a fee to cover the costs of processing your submission or providing those services. The filings for which the Director may charge a fee include notices, applications, and securities filings. Among the services for which the Director may charge a fee are publications, seminars, certifications for official copies of agency documents, and records or services requested by other agencies. The Director also assesses fees for examining and investigating savings associations that administer trust assets of $1 billion or less, and affiliates of savings associations. If you are a savings association and you or any of your affiliates cause OTS to incur extraordinary expenses related to your examination, investigation, regulation, or supervision, the Director may charge you a fee to fund those expenses. Subpart B of this part describes OTS's fee procedures and requirements. [63 FR 65670, Nov. 30, 1998, as amended at 67 FR 78151, Dec. 23, 2002]

$ 502.10 How does OTS calculate my

assessment? OTS determines your semi-annual assessment by totaling three components: your size, your condition, and the complexity of your business. For the size and complexity components, OTS uses the September 30 Thrift Financial Report to determine amounts due at the January 31 assessment; and the March 31 Thrift Financial Report to determine amounts due at the July 31 assessment. For purposes of this subpart, total assets are your total assets as reported on Thrift Financial Reports filed with OTS. For the condition component, OTS uses the most recent composite rating, as defined in 12 CFR part 516, of which you have been notified in writing before assessment's

due date.

an

$ 502.15 How does OTS determine my

size component? (a) General. (1) Unless you are a qualifying savings association under paragraph (b) of this section, OTS uses the following chart to calculate your size component:

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(2) To calculate your size component, find the row in Columns A and B that describes your total assets. Reading across in that same row, find your base assessment amount in Column C, your marginal rate in Column D, and your class floor in Column E. Calculate how much your total assets exceed your Column E class floor. Multiply this number by your Column D marginal rate. Add this number to your Column C base assessment amount. The total is your size component. OTS will establish the base assessment amounts and

the marginal rates in columns C and D in a Thrift Bulletin.

(b) Special size component calculation for qualifying savings associations. If you meet all of the criteria set forth in paragraph (b)(1) of this section, you are a qualifying savings association and OTS will calculate your size component in accordance with paragraph (b)(2) of this section.

(1) Criteria for qualifying savings association status. (i) You were a savings association as of January 1, 1999.

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