Change in Directors/Officers (FIRREA)

Certain state member banks must provide prior notice to the Federal Reserve before adding or replacing a director or a senior executive officer, or substantially changing the responsibilities of any senior executive officer. An institution may request a waiver of the prior notice requirement if the individual's services are needed immediately.

Sections 225.71-225.73 of Regulation Y

None required

Form FR 2081b – Interagency Notice of Change in Director or Senior Executive Officer

Form FR 2081c – Interagency Biographical and Financial Report

30 days after the notice is received by the Federal Reserve unless applicant is otherwise notified