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The statute specifically mandates actions that a bank must take with regard to substitute checks. This includes ensuring endorsements are present and identifying the reconverting bank. These are specific regulatory tasks and therefore are considered Specific Authority Delegations.
The statute provides a clear and specific regulatory task for the Board of Governors: to order examinations of Federal Reserve Banks. The statute instructs the agency on the task, frequency and trigger for special examinations.
While 12 U.S.C. § 485 mandates an examination, it also requires a “report of the condition” of the bank. This provides a specific regulatory task, triggering Specific Authority delegation. The regulation 12 CFR Part 217, by including capital adequacy requirements, directly relates to assessing and reporting on the “condition” of the bank.
The statute directs the Board to perform a very specific task (examination of Federal Reserve Banks) and defines the frequency (at least once a year, plus special examinations under certain conditions). This meets the criteria for Specific Authority Delegation.
The statute specifically identifies the regulatory task: whether or not to waive the reporting requirements for affiliated banks. It provides a clear context for the exercise of agency authority by using the phrase “if in the judgment of the said Board or Comptroller, respectively, such report or examination is not necessary to disclose fully the relations between such affiliate and such bank and the effect thereof upon the affairs of such bank.”
The statute clearly instructs the Board of Governors of the Federal Reserve System and the Comptroller of the Currency on a specific regulatory task: waiving reporting and examination requirements for affiliates of member banks under certain conditions (“if in the judgment of the said Board or Comptroller, respectively, such report or examination is not necessary to disclose fully the relations between such affiliate and such bank and the effect thereof upon the affairs of such bank”). The statute also uses the term “judgment”, which is explicitly allowed for under the Specific Authority delegation.
The statute does not give direct instruction for specific regulatory tasks. Although 12 U.S.C. § 484 speaks about the visitorial powers, it uses open-ended terms such as “authorized by Federal law.” It allows but does not clearly instruct an agency to regulate a specific task or fill a regulatory gap.
The statutes listed in the “Authority” section of 12 CFR Part 217 (including 12 U.S.C. §§ 481-486) grant broad rulemaking authority to the Federal Reserve regarding the regulation of banks but do not identify specific regulatory tasks for capital adequacy. Therefore, it’s a general authority delegation.
While 12 U.S.C. § 484 relates to visitorial powers and authorizes federal law in that area, it does not explicitly instruct the agency (likely the Federal Reserve in this case, given the regulation provided) to undertake specific regulatory tasks. Instead, it grants broad authority to authorize exceptions to the limitations on visitorial powers. The regulation 12 CFR Part 252 cites 12 U.S.C. 481-486 which is related to the examination of member banks; however 12 USC 484 only allows for regulations limiting visitorial powers, but does not direct any specific rules or tasks.
While 12 U.S.C. § 484(a) is framed as a limitation on visitorial powers, it simultaneously authorizes such powers when permitted by federal law. This implies a specific area (visitorial powers over national banks) where the agency can act, regulating the scope and nature of permissible examinations. Although the statute uses the open-ended term “authorized,” it relates directly to a specific gap, which counts it as “Specific Authority Delegations.”
Although 12 U.S.C. 484 allows for the authorization of visitorial powers, it also places a limitation on the exercise of such powers. The statute anticipates the need for federal law to specifically authorize these powers and regulates their scope. The CFR Part 7 regulation provides specific regulations pertaining to powers that congress authorized.
The statute provides specific regulatory tasks regarding the assessment of fees. It instructs the agency to impose and collect assessments, fees, or other charges “as necessary or appropriate to carry out the responsibilities of the office of the Comptroller” and states that these fees “shall be set to meet the Comptroller”™s expenses in carrying out authorized activities.” Although the phrase “necessary or appropriate” is somewhat open-ended, it still directs the agency towards a specific regulatory objective: funding the office’s activities through assessments and fees.
The statute specifically instructs the Federal Reserve Banks to conduct examinations “so conducted as to inform the Federal reserve bank of the condition of its member banks and of the lines of credit which are being extended by them.” This language identifies a specific regulatory task – examining member bank condition and credit extension – even using the phrase “…as to inform…”
While 12 U.S.C. § 483 allows for special examinations and requires the furnishing of information, it does not delineate specific regulatory tasks. It grants the Board of Governors the authority to demand information and approve examinations but does not specify the content or frequency of those examinations, nor does it dictate standards for capital adequacy. It functions as a building block, allowing for more concrete regulations to be enacted, but it does not outline the creation of those regulations beyond allowing for examinations. The breadth of the authorization to request “such information as may be demanded” leans towards a general supervisory power.
The statute gives the Federal Reserve bank the power to conduct examinations of member banks within the district with the purpose of informing the Federal Reserve bank of the condition of its member banks and of the lines of credit which are being extended by them. It also dictates who pays for the examinations. Therefore, the statute specifically instructs the agency (Federal Reserve Bank) on a specific regulatory task.
While 12 U.S.C. § 483 provides the Federal Reserve with discretion regarding special examinations and information gathering, it specifically instructs the agency to inform the Federal Reserve Bank of the condition of member banks and their credit extensions. This constitutes a specific regulatory task, even with the discretionary language.
The statute provides broad authority to the Comptroller to impose and collect assessments, fees, or other charges as necessary or appropriate. It does not specify particular regulatory tasks but rather gives the Comptroller flexibility to determine what is necessary to carry out the responsibilities of the office. While the funds collected are directed towards meeting the Comptroller’s expenses, the nature of the expenses and the level of fees are not precisely defined, resulting in a general grant of authority.
While the statute allows the Comptroller to set assessments and fees “as necessary or appropriate to carry out the responsibilities of the office,” it does not define or provide specific instructions on how to regulate capital adequacy. The statute provides a broad framework without identifying specific regulatory tasks for capital adequacy.
The statute provides broad authority to the Comptroller to impose assessments and fees “as necessary or appropriate to carry out the responsibilities of the office”. This is a broad grant of power tied to the general responsibilities of the office, rather than specific regulatory tasks. The language “as necessary or appropriate” does not necessarily make it a “Specific Authority” as Hickman describes because the responsibilities aren’t themselves clearly delineated regulatory gaps the Comptroller must fill.
The statute provides broad rulemaking authority, authorizing the Comptroller to impose and collect assessments, fees, or other charges as “necessary or appropriate” to carry out the responsibilities of the office. This doesn’t specify the exact regulatory tasks but grants the agency discretion to determine what regulations are needed to fulfill its broader responsibilities, fitting the General Authority Delegation.
The statute grants the Comptroller the authority to impose and collect assessments, fees, or other charges as necessary or appropriate to carry out the responsibilities of the office. This is a broad grant of authority, not tied to a specific regulatory task, but allows the Comptroller to set fees necessary to meet the office’s expenses in carrying out authorized activities.
While the section of the CFR references 12 U.S.C. 1 et seq. generally, it also references 12 U.S.C. 481 specifically as authority. This means that the rule is made under an authority that clearly instructs an agency on a specific regulatory task.
While 12 U.S.C. § 481 mandates examinations and reporting, it does not specifically instruct the Comptroller on how to create liquidity risk measurement standards. The statute provides broad authority for the Comptroller to oversee national banks, but the specifics of Part 50 are an exercise of that broader authority and aren’t specifically tied to a gap identified within 481.
The statute directs the Comptroller of the Currency to appoint examiners and examine national banks. The statute details the scope of these examinations, the powers of the examiners, and reporting requirements. Furthermore, it authorizes regulations to govern the assessment and collection of expenses. This is a specific regulatory task, even using the term “authorized and empowered to prescribe regulations governing the computation and assessment of the expenses of examinations herein provided for and the collection of such assessments.”
The statute directs the Comptroller to appoint examiners and outlines their duties including examining banks, administering oaths, and reporting findings. While the phrase “as often as the Comptroller of the Currency shall deem necessary” allows for some discretion in examination frequency, the core regulatory task of examination is specifically defined. The authorization to prescribe regulations governing the computation and assessment of examination expenses is another example of specific authority.