
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 12USC1831m-1]

 
                       TITLE 12--BANKS AND BANKING
 
            CHAPTER 16--FEDERAL DEPOSIT INSURANCE CORPORATION
 
Sec. 1831m-1. Reports of information regarding safety and 
        soundness of depository institutions
        

(a) Reports to appropriate Federal banking agencies

                           (1) In general

        The Attorney General, the Secretary of the Treasury, and the 
    head of any other agency or instrumentality of the United States 
    shall, unless otherwise prohibited by law, disclose to the 
    appropriate Federal banking agency any information that the Attorney 
    General, the Secretary of the Treasury, or such agency head believes 
    raises significant concerns regarding the safety or soundness of any 
    depository institution doing business in the United States.

                           (2) Exceptions

        (A) Intelligence information

            (i) In general

                The Director of Central Intelligence shall disclose to 
            the Attorney General or the Secretary of the Treasury any 
            intelligence information that would otherwise be reported to 
            an appropriate Federal banking agency pursuant to paragraph 
            (1). After consultation with the Director of Central 
            Intelligence, the Attorney General or the Secretary of the 
            Treasury, shall disclose the intelligence information to the 
            appropriate Federal banking agency.
            (ii) Procedures for receipt of intelligence 
                    information

                Each appropriate Federal banking agency, in consultation 
            with the Director of Central Intelligence, shall establish 
            procedures for receipt of intelligence information that are 
            adequate to protect the intelligence information.

        (B) Criminal investigations, safety of Government investigators, 
                informants, and witnesses

            If the Attorney General, the Secretary of the Treasury or 
        their respective designees determines that the disclosure of 
        information pursuant to paragraph (1) may jeopardize a pending 
        civil investigation or litigation, or a pending criminal 
        investigation or prosecution, may result in serious bodily 
        injury or death to Government employees, informants, witnesses 
        or their respective families, or may disclose sensitive 
        investigative techniques and methods, the Attorney General or 
        the Secretary of the Treasury shall--
                (i) provide the appropriate Federal banking agency a 
            description of the information that is as specific as 
            possible without jeopardizing the investigation, litigation, 
            or prosecution, threatening serious bodily injury or death 
            to Government employees, informants, or witnesses or their 
            respective families, or disclosing sensitive investigation 
            techniques and methods; and
                (ii) permit a full review of the information by the 
            Federal banking agency at a location and under procedures 
            that the Attorney General determines will ensure the 
            effective protection of the information while permitting the 
            Federal banking agency to ensure the safety and soundness of 
            any depository institution.

        (C) Grand jury investigations; criminal procedure

            Paragraph (1) shall not--
                (i) apply to the receipt of information by an agency or 
            instrumentality in connection with a pending grand jury 
            investigation; or
                (ii) be construed to require disclosure of information 
            prohibited by rule 6 of the Federal Rules of Criminal 
            Procedure.

(b) Procedures for receipt of disclosure reports

                           (1) In general

        Within 90 days after October 28, 1992, each appropriate Federal 
    banking agency shall establish procedures for receipt of a 
    disclosure report by an agency or instrumentality made in accordance 
    with subsection (a)(1) of this section. The procedures established 
    in accordance with this subsection shall ensure adequate protection 
    of information disclosed, including access control and information 
    accountability.

          (2) Procedures related to each disclosure report

        Upon receipt of a report in accordance with subsection (a)(1) of 
    this section, the appropriate Federal banking agency shall--
            (A) consult with the agency or instrumentality that made the 
        disclosure regarding the adequacy of the procedures established 
        pursuant to paragraph (1), and
            (B) adjust the procedures to ensure adequate protection of 
        the information disclosed.

(c) Effect on agencies

    This section does not impose an affirmative duty on the Attorney 
General, the Secretary of the Treasury, or the head of any agency or 
instrumentality of the United States to collect new or to review 
existing information.

(d) Definitions

    For purposes of this section, the terms ``appropriate Federal 
banking agency'' and ``depository institution'' have the same meanings 
as in section 1818 of this title.

(Pub. L. 102-550, title XV, Sec. 1542, Oct. 28, 1992, 106 Stat. 4067; 
Pub. L. 105-362, title X, Sec. 1001(f), Nov. 10, 1998, 112 Stat. 3292.)

                       References in Text

    Rule 6 of the Federal Rules of Criminal Procedure, referred to in 
subsec. (a)(2)(C)(ii), is set out in the Appendix to Title 18, Crimes 
and Criminal Procedure.

                          Codification

    Section was enacted as part of the Annunzio-Wylie Anti-Money 
Laundering Act and also as part of the Housing and Community Development 
Act of 1992, and not as part of the Federal Deposit Insurance Act which 
comprises this chapter.


                               Amendments

    1998--Subsec. (e). Pub. L. 105-362 struck out heading and text of 
subsec. (e). Text read as follows: ``The Attorney General and the 
Secretary of the Treasury shall report to the Committee on Banking, 
Housing, and Urban Affairs of the Senate and the Committee on Banking, 
Finance and Urban Affairs of the House of Representatives, not later 
than 90 days after the end of each calendar year on their utilization of 
the exceptions provided in subsection (a)(1)(B) of this section.''
