---
kind: "section"
citation: "12 C.F.R. § 308.121"
title: "12"
number: "308.121"
heading: "Notification to primary regulator."
url: "https://uscodex.org/cfr/12/308.121"
---

# §308.121. Notification to primary regulator.

- (a) **Service of notification.**
  - (1) Upon a determination by the Board of Directors or its designee pursuant to [§ 308.120](/cfr/12/308.120.md) of an unsafe or unsound practice or condition or of a violation, a notification shall be served upon the appropriate Federal banking agency of the insured depository institution, or the State banking supervisor if the FDIC is the appropriate Federal banking agency.
  - (2) Appropriate Federal banking agency shall have the meaning given that term in [section 3(q)](/cfr/12/3.md?p=q) of the FDIA ([12 U.S.C. 1813(q)](/usc/12/1813.md?p=q)), and shall be the OCC in the case of a national bank, a District bank or an insured Federal branch of a foreign bank; the FDIC in the case of an insured nonmember bank, including an insured State branch of a foreign bank; the Board of Governors in the case of a state member bank; or the OTS in the case of an insured Federal or state savings association.
  - (3) In the case of a state nonmember bank, insured Federal branch of a foreign bank, or state member bank, in addition to service of the notification upon the appropriate Federal banking agency, a copy of the notification shall be sent to the appropriate State banking supervisor.
  - (4) In instances in which a Temporary Order Suspending Insurance is issued pursuant to [section 8(a)(8)](/cfr/12/8.md?p=a-8) of the FDIA ([12 U.S.C. 1818(a)(8)](/usc/12/1818.md?p=a-8)), the notification may be served concurrently with such order.
- (b) **Contents of notification.** The notification shall contain the FDIC's determination, and the facts and circumstances upon which such determination is based, for the purpose of securing correction of such practice, condition, or violation.

## Notes

### Authority

Authority: 5 U.S.C. 504, 554-557; 12 U.S.C. 93(b), 164, 505, 1464, 1467(d), 1467a, 1468, 1815(e), 1817, 1818, 1819, 1820, 1828, 1829, 1829(b), 1831i, 1831m(g)(4), 1831 o, 1831p-1, 1832(c), 1884(b), 1972, 3102, 3108(a), 3349, 3909, 4717, 5412(b)(2)(C), 5414(b)(3); 15 U.S.C. 78(h) and (i), 78 o (c)(4), 78 o -4(c), 78 o -5, 78q-1, 78s, 78u, 78u-2, 78u-3, 78w, 6801(b), 6805(b)(1); 28 U.S.C. 2461 note; 31 U.S.C. 330, 5321; 42 U.S.C. 4012a; Pub. L. 104-134, sec. 31001(s), 110 Stat. 1321; Pub. L. 109-351, 120 Stat. 1966; Pub. L. 111-203, 124 Stat. 1376; Pub. L. 114-74, sec. 701, 129 Stat. 584.

### Source

Source: 56 FR 37975, Aug. 9, 1991, unless otherwise noted.