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Federal Register / Vol. 86, No. 21 / Wednesday, February 3, 2021 / Rules and Regulations
ii Prior notice to institution. Prior to taking action pursuant to 324.403d of this chapter, the FDIC shall issue and serve on the FDIC-supervised institution a written notice of the FDICs intention to reclassify it.
2 Contents of notice. A notice of intention to reclassify an FDICsupervised institution based on unsafe or unsound condition shall include:
i A statement of the FDIC-supervised institutions capital measures and capital levels and the category to which the FDIC-supervised institution would be reclassified;
ii The reasons for reclassification of the FDIC-supervised institution; and iii The date by which the FDICsupervised institution subject to the notice of reclassification may file with the FDIC a written appeal of the proposed reclassification and a request for a hearing, which shall be at least 14
calendar days from the date of service of the notice unless the FDIC determines that a shorter period is appropriate in light of the financial condition of the FDIC-supervised institution or other relevant circumstances.
3 Response to notice of proposed reclassification. An FDIC-supervised institution may file a written response to a notice of proposed reclassification within the time period set by the FDIC.
The response should include:
i An explanation of why the FDICsupervised institution is not in an unsafe or unsound condition or otherwise should not be reclassified;
and ii Any other relevant information, mitigating circumstances, documentation, or other evidence in support of the position of the FDICsupervised institution regarding the reclassification.
4 Failure to file response. Failure by an FDIC-supervised institution to file, within the specified time period, a written response with the FDIC to a notice of proposed reclassification shall constitute a waiver of the opportunity to respond and shall constitute consent to the reclassification.
5 Request for hearing and presentation of oral testimony or witnesses. The response may include a request for an informal hearing before the FDIC under this section. If the FDICsupervised institution desires to present oral testimony or witnesses at the hearing, the FDIC-supervised institution shall include a request to do so with the request for an informal hearing. A
request to present oral testimony or witnesses shall specify the names of the witnesses and the general nature of their expected testimony. Failure to request a hearing shall constitute a waiver of any
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right to a hearing, and failure to request the opportunity to present oral testimony or witnesses shall constitute a waiver of any right to present oral testimony or witnesses.
6 Order for informal hearing. Upon receipt of a timely written request that includes a request for a hearing, the FDIC shall issue an order directing an informal hearing to commence no later than 30 days after receipt of the request, unless the FDIC allows further time at the request of the FDIC-supervised institution. The hearing shall be held in Washington, DC, or at such other place as may be designated by the FDIC before a presiding officers designated by the FDIC to conduct the hearing.
7 Hearing procedures. i The FDICsupervised institution shall have the right to introduce relevant written materials and to present oral argument at the hearing. The FDIC-supervised institution may introduce oral testimony and present witnesses only if expressly authorized by the FDIC or the presiding officers. Neither the provisions of the Administrative Procedure Act 5 U.S.C.
554557 governing adjudications required by statute to be determined on the record nor the Uniform Rules of Practice and Procedure in this part apply to an informal hearing under this section unless the FDIC orders that such procedures shall apply.
ii The informal hearing shall be recorded, and a transcript shall be furnished to the FDIC-supervised institution upon request and payment of the cost thereof. Witnesses need not be sworn, unless specifically requested by a party or the presiding officers. The presiding officers may ask questions of any witness.
iii The presiding officers may order that the hearing be continued for a reasonable period normally five business days following completion of oral testimony or argument to allow additional written submissions to the hearing record.
8 Recommendation of presiding officers. Within 20 calendar days following the date the hearing and the record on the proceeding are closed, the presiding officers shall make a recommendation to the FDIC on the reclassification.
9 Time for decision. Not later than 60 calendar days after the date the record is closed or the date of the response in a case where no hearing was requested, the FDIC will decide whether to reclassify the FDIC-supervised institution and notify the FDICsupervised institution of the FDICs decision.
b Request for rescission of reclassification. Any FDIC-supervised
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institution that has been reclassified under this section, may, upon a change in circumstances, request in writing that the FDIC reconsider the reclassification and may propose that the reclassification be rescinded and that any directives issued in connection with the reclassification be modified, rescinded, or removed. Unless otherwise ordered by the FDIC, the FDIC-supervised institution shall remain subject to the reclassification and to any directives issued in connection with that reclassification while such request is pending before the FDIC.
308.203 Order to dismiss a director or senior executive officer.

a Service of notice. When the FDIC
issues and serves a directive on an FDIC-supervised institution pursuant to 308.201 requiring the FDIC-supervised institution to dismiss from office any director or senior executive officer under section 38f2Fii of the FDI
Act, the FDIC shall also serve a copy of the directive, or the relevant portions of the directive where appropriate, upon the person to be dismissed.
b Response to directive1 Request for reinstatement. A director or senior executive officer who has been served with a directive under paragraph a of this section Respondent may file a written request for reinstatement. The request for reinstatement shall be filed within 10 calendar days of the receipt of the directive by the Respondent, unless further time is allowed by the FDIC at the request of the Respondent.
2 Contents of request; informal hearing. The request for reinstatement shall include reasons why the Respondent should be reinstated and may include a request for an informal hearing before the FDIC under this section. If the Respondent desires to present oral testimony or witnesses at the hearing, the Respondent shall include a request to do so with the request for an informal hearing. The request to present oral testimony or witnesses shall specify the names of the witnesses and the general nature of their expected testimony. Failure to request a hearing shall constitute a waiver of any right to a hearing, and failure to request the opportunity to present oral testimony or witnesses shall constitute a waiver of any right or opportunity to present oral testimony or witnesses.
3 Effective date. Unless otherwise ordered by the FDIC, the dismissal shall remain in effect while a request for reinstatement is pending.
c Order for informal hearing. Upon receipt of a timely written request from a Respondent for an informal hearing on
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