12 U.S.C. § 3109 : US Code - Section 3109: Cooperation with foreign supervisors

Search 12 U.S.C. § 3109 : US Code - Section 3109: Cooperation with foreign supervisors

(a) Disclosure of supervisory information to foreign supervisors
Notwithstanding any other provision of law, the Board,
Comptroller of the Currency, Federal Deposit Insurance Corporation,
and Director of the Office of Thrift Supervision may disclose
information obtained in the course of exercising supervisory or
examination authority to any foreign bank regulatory or supervisory
authority if the Board, Comptroller, Corporation, or Director
determines that such disclosure is appropriate and will not
prejudice the interests of the United States.
(b) Requirement of confidentiality
Before making any disclosure of any information to a foreign
authority, the Board, Comptroller of the Currency, Federal Deposit
Insurance Corporation, and Director of the Office of Thrift
Supervision shall obtain, to the extent necessary, the agreement of
such foreign authority to maintain the confidentiality of such
information to the extent possible under applicable law.
(c) Confidential information received from foreign supervisors
(1) In general
Except as provided in paragraph (3), a Federal banking agency
may not be compelled to disclose information received from a
foreign regulatory or supervisory authority if -
(A) the Federal banking agency determines that the foreign
regulatory or supervisory authority has, in good faith,
determined and represented in writing to such Federal banking
agency that public disclosure of the information would violate
the laws applicable to that foreign regulatory or supervisory
authority; and
(B) the relevant Federal banking agency obtained such
information pursuant to -
(i) such procedures as the Federal banking agency may
establish for use in connection with the administration and
enforcement of Federal banking laws; or
(ii) a memorandum of understanding or other similar
arrangement between the Federal banking agency and the
foreign regulatory or supervisory authority.
(2) Treatment under title 5
For purposes of section 552 of title 5, this subsection shall
be treated as a statute described in subsection (b)(3)(B) of such
section.
(3) Savings provision
No provision of this section shall be construed as -
(A) authorizing any Federal banking agency to withhold any
information from any duly authorized committee of the House of
Representatives or the Senate; or
(B) preventing any Federal banking agency from complying with
an order of a court of the United States in an action commenced
by the United States or such agency.
(4) Federal banking agency defined
For purposes of this subsection, the term "Federal banking
agency" means the Board, the Comptroller of the Currency, the
Federal Deposit Insurance Corporation, and the Director of the
Office of Thrift Supervision.