§ 7.3000 - National bank and Federal savings association operating hours and closings.

§ 7.3000 National bank and Federal savings association operating hours and closings.

Cross Reference

Link to an amendment published at 85 FR 83736, Dec. 22, 2020.

(a) Bank Operating hours. A national bank's board of directors The board of directors of a national bank or Federal savings association, or an equivalent person or committee of a Federal branch or agency, should review its banking hours , of operations for customers and, independently of any other bank, savings association, or Federal branch or agency, take appropriate action to establish a schedule of banking operating hours for customers.

(b) Emergency closings declared by the Comptroller. Pursuant to 12 U.S.C. 95(b)(1) and 1463(a)(1)(A), the Comptroller of the Currency (Comptroller), a state, or a legally authorized state official may declare a any day a legal holiday if emergency conditions exist. That day is a legal holiday for national banks or their offices , Federal savings associations, and Federal branches or agencies in the affected geographic area (i.e., throughout the countryUnited States, in a stateState, or in part of a state). Emergency conditions include natural disasters and civil and municipal emergencies State), and national banks, Federal savings associations, and Federal branches and agencies may temporarily limit or suspend operations at their affected offices, unless the Comptroller by written order directs otherwise. Emergency conditions may be caused by acts of nature or of man and may include natural and other disasters, public health or safety emergencies, civil and municipal emergencies, and cyber threats or other unauthorized intrusions (e.g., severe flooding, a pandemic, terrorism, a cyber-attack on bank systems, or a power emergency declared by a local power company or government requesting that businesses in the affected area close). The Comptroller issues may issue a proclamation authorizing the emergency closing in accordance with 12 U.S.C. 95 anticipation of the emergency condition, at the time of the emergency condition, or soon thereafter. When In the absence of a Comptroller , a State, or a legally authorized State official declares a legal holiday due to emergency conditionsdeclaration of a bank holiday, a national bank, Federal savings associations, or Federal branch or agency may temporarily limit or suspend operations at its affected offices. Alternatively, the national bank may continue its operations unless the Comptroller by written order directs otherwise.

(c) Ceremonial closings. A state or a legally authorized state official may declare a day a legal holiday for ceremonial reasons. When a state or a legally authorized state official declares a

choose to temporarily close offices in response to an emergency condition. The national bank, Federal savings associations, or Federal branch or agency should notify the OCC of such temporary closure as soon as feasible.

(c) Emergency and ceremonial closings declared by a State or State official. In the event a State or a legally authorized State official declares any day to be a legal holiday for emergency or ceremonial reasons in that State or part of the State, that same day is a national bank may choose to remain open or to closelegal holiday for national banks, Federal savings associations, and Federal branches or agencies or their offices in the affected geographic area. National banks, Federal savings associations, and Federal branches or agencies or their affected offices may close their affected offices or remain open on such a State-designated holiday, unless the Comptroller by written order directs otherwise.

(d) Liability. A national bank, Federal savings association, or Federal branch or agency should assure that all liabilities or other obligations under the applicable law due to the bank's its closing are satisfied.

[61 FR 4862, Feb. 9, 1996, as amended at 66 FR 34791, July 2, 2001

(e) Definition. For the purpose of this subpart, the term “State” means any of the several States, the District of Columbia, the Commonwealth of Puerto Rico, the Northern Mariana Islands, Guam, the Virgin Islands, American Samoa, the Trust Territory of the Pacific Islands, or any other territory or possession of the United States.

[85 FR 83736, Dec. 22, 2020]