[Federal Register Volume 68, Number 81 (Monday, April 28, 2003)]
[Notices]
[Pages 22381-22385]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-10316]



[[Page 22381]]

-----------------------------------------------------------------------

FEDERAL RESERVE SYSTEM

[Docket No. R-1148]


Privacy Act of 1974; Notice of Amendment of System of Records

AGENCY: Board of Governors of the Federal Reserve System.

ACTION: Notice; amendment of systems of records.

-----------------------------------------------------------------------

SUMMARY: In accordance with the Privacy Act, the Board of Governors of 
the Federal Reserve System (Board) is amending two systems of records, 
entitled Recruiting and Placement Records (BGFRS-1) and General 
Personnel Records (BGFRS-4). These amendments include new routine uses 
and reflect changes due to increased use of electronic records 
management. We invite public comment on this publication.

DATES: Comment must be received on or before May 28, 2003.

ADDRESSES: Comments should refer to Docket No. R-1148 and should be 
mailed to Ms. Jennifer J. Johnson, Secretary, Board of Governors of the 
Federal Reserve System, 20th Street and Constitution Avenue, N.W., 
Washington, D.C. 20551, or mailed electronically to 
[email protected]. Members of the public may inspect 
comments in Room MP-500 of the Martin Building between 9:00 a.m. and 
5:00 p.m. on weekdays pursuant to Sec.  261.12, except as provided in 
Sec.  261.14, of the Board's Rules Regarding Availability of 
Information, 12 CFR 261.12 and 261.14.

FOR FURTHER INFORMATION CONTACT: Elaine M. Boutilier, Managing Senior 
Counsel, Legal Division (202/452-2418), or Chris Fields, Assistant 
Director, Human Resources Function, Management Division (202/452-3654). 
For the hearing impaired only, contact Telecommunications Device for 
the Deaf (TDD)(202/263-4869).

SUPPLEMENTARY INFORMATION: Unlike most Federal government agencies 
whose personnel files are maintained by the Office of Personnel 
Management (OPM), the Board maintains its own recruiting and personnel 
files. because the Board has independent statutory authority to hire 
staff and set the salary and benefit terms for its staff. Accordingly, 
the recruiting and personnel files of Board employees are not contained 
in the systems of records identified as OPM/GOVT-1 and OPM/GOVT-5. 
Nevertheless, the Board's personnel and recruiting files are used in 
much the same manner as personnel and recruiting files of other federal 
employees, and the Board has adopted many of the routine uses that are 
included in OPM/GOVT-1 and OPM/GOVT-2. The current amendments being 
made to the routine uses are necessary due to changes in laws and 
increases in national security measures.
    In accordance with 5 U.S.C. 552a(r), a report of these amended 
systems of records is being filed with the Chair of the House Committee 
on Government Reform and Oversight, the Chair of the Senate Committee 
on Governmental Affairs, and the Office of Management and Budget. These 
amendments will become effective on June 16a, 2003, without further 
notice, unless the Board publishes a notice to the contrary in the 
Federal Register.
    Accordingly, the systems of records entitled FRB-Recruiting and 
Placement Records (BGFRS-1) and FRB-General Personnel Records (BGFRS-4) 
are amended as set forth below.

System name:
    BGFRS 1- Recruiting and Placement Records

System location:
    Most records are maintained at the Board of Governors of the 
Federal Reserve System, 20th and Constitution, N.W., Washington, D.C. 
20551. Some information, primarily resumes, is electronically collected 
and stored off-site on behalf of the Board by a contractor.

Categories of individuals covered by the system:
    Persons who have applied for employment with the Federal Reserve 
Board.

Categories of records in the system:
    The following categories of records are maintained in this system: 
resumes, applications, and supporting documentation submitted by 
persons seeking employment; information from job fairs; referrals from 
Federal Reserve Banks and other Federal government agencies; 
transcripts or notes from interviews with some applicants; notes of 
interviews with references; information regarding verification of 
education and/or military status; some employment inquiries (and 
responses) sent to the Chairman of the Board; and offer letters and 
related correspondence. Certain information is retained in an 
electronic database to enable the Board's Equal Employment Opportunity 
Office to monitor and track its recruiting and hiring performance.

Authority for maintenance of the system:
    Sections 10 and 11 of the Federal Reserve Act (12 U.S.C. 244 and 
248(l)).

Purpose(s):
    These records are collected and maintained to assist the Board in 
recruiting and retaining qualified employees, and to allow the Board to 
periodically review its hiring practices.

Routine uses of records maintained in the system, including categories 
of users and the purposes of such uses:
    The information in the records may be used:
    a. By the National Archives and Records Administration in 
connection with records management inspections and its role as 
Archivist.
    b. To disclose to contractors, agents, or volunteers performing or 
working on a contract, service, cooperative agreement, or job for the 
Board.
    c. To disclose pertinent information to the appropriate Federal, 
State, or local agency responsible for investigating, prosecuting, 
enforcing, or implementing a statute, rule, regulation, or order, when 
the Board becomes aware of an indication of a violation or potential 
violation of civil or criminal law or regulation.
    d. To disclose information to any source from which additional 
information is requested (to the extent necessary to identify the 
individual, inform the source of the purpose(s) of the request, and to 
identify the type of information requested), when necessary to obtain 
information relevant to a Board decision to hire or retain an employee, 
issue a security clearance, conduct a security or suitability 
investigation of an individual, classify jobs, let a contract, or issue 
a license, grant, or other benefits.
    e. To disclose to a Federal agency or to a Federal Reserve Bank, in 
response to its request, or at the initiation of the Board, information 
in connection with the hiring of an employee, issuing a security 
clearance, conducting a security or suitability investigation of an 
individual, classifying positions, letting a contract, or issuing a 
license, grant, or other benefit by the requesting agency or Federal 
Reserve Bank, or the lawful statutory, administrative, or investigative 
purpose of the agency to the extent that the information is relevant 
and necessary to the requesting agency's or Federal Reserve Bank's 
decision.
    f. To provide information to a congressional office from the record 
of an individual in response to an inquiry from the congressional 
office made at the request of the individual.
    g. To disclose information to another Federal agency, a court, or a 
party in litigation before a court or in an administrative proceeding 
being

[[Page 22382]]

conducted by a Federal agency, when the Board or United States is a 
party to the judicial or administrative proceeding.
    h. To disclose information to the Department of Justice or in a 
proceeding before a court, adjudicative body, or other administrative 
body before which the Board is authorized to appear, when:
    (1) The Board or any employee of the Board in his or her official 
capacity; or
    (2) Any employee of the Board in his or her individual capacity 
where the Department of Justice or the Board has agreed to represent 
the employee; or
    (3) The United States (when the Board determines that the 
litigation is likely to affect the Board) is a party to litigation or 
has an interest in such litigation, and the use of such records by the 
Department of Justice or the Board is deemed by the Board to be 
relevant and necessary to the litigation provided, however, that in 
each case it has been determined that the disclosure is compatible with 
the purpose for which the records were collected.
    i. To disclose, in response to a request for discovery or for 
appearance of a witness, information that is relevant to the subject 
matter involved in a pending judicial or administrative proceeding.
    j. To disclose information to the Equal Employment Opportunity 
Commission when requested in connection with investigations of alleged 
or possible discrimination practices in the Federal sector, examination 
of Federal affirmative employment programs, or other functions vested 
in the Commission.
    k. To disclose information to the Merit Systems Protection Board or 
the Office of Special Counsel in connection with appeals, special 
studies of the civil service and other merit systems, review of Office 
rules and regulations, investigation of alleged or possible prohibited 
personnel practices, and such other functions, e.g., as prescribed in 5 
U.S.C. chapter 12, or as may be authorized by law.
    l. To disclose information to the Merit Systems Protection Board or 
the Office of Special Counsel in connection with appeals, special 
studies of the civil service and other merit systems, investigation of 
alleged or possible prohibited personnel practices, and such other 
functions promulgated in 5 U.S.C. chapter 12, or as may be authorized 
by law.
    m. To disclose information in connection with the investigation and 
resolution of allegations of unfair labor practices before the Federal 
Reserve Board Labor Relations Panel when requested.
    n. To disclose information to Federal, State, local, and 
professional licensing boards, Board of Medical Examiners, or to the 
Federation of State Medical Boards or a similar non-government entity 
which maintains records concerning individuals' employment histories or 
concerning the issuance, retention or revocation of licenses, 
certifications or registration necessary to practice an occupation, 
profession or speciality, in order to obtain information relevant to a 
Board decision concerning the hiring, retention or termination of an 
employee or to inform a Federal agency or licensing boards or the 
appropriate non-government entities about the health care practices of 
a terminated, resigned or retired health care employee whose 
professional health care activity so significantly failed to conform to 
generally accepted standards of professional medical practice as to 
raise reasonable concern for the health and safety of patients in the 
private sector or from another Federal agency.

Disclosure to consumer reporting agencies:
    Not applicable.

Policies and practices for storing, retrieving, accessing, retaining, 
and disposing of records in the system:
Storage:
    Since January 2000, records have been stored in an automated 
database and in paper format.

Retrievability:
    Resumes and related material received since January 2000 are 
retrievable by name and other identifying aspects in the automated 
database. Resumes and related material received prior to January 2000 
are filed in paper form by year and job category, not by individually 
identifiable labels.

Safeguards:
    Access to computerized records is limited to those whose official 
duties require it.

Retention and disposal:
    Resume 233;s are retained for two years. The retention 
period for otherrecords is currently under review. Until review is 
completed, those records will not be destroyed.

System manager(s) and address:
    Associate Director, Human Resources Function, Management Division, 
Board of Governors of the Federal Reserve System, 20th & Constitution, 
NW, Washington, DC 20551.

Notification procedure:
    Inquiries should be sent to the Secretary of the Board, Board of 
Governors of the Federal Reserve System, 20th and Constitution Avenue, 
N.W., Washington, DC 20551. The request should contain the individual's 
name, date of birth, Social Security number, identification number (if 
known), approximate date of record, and type of position.

Record access procedures:
    Current Board employees who wish to gain access to or contest their 
records should contact the system manager, address above. Former Board 
employees should direct such a request in writing to the Secretary of 
the Board, Board of Governors of the Federal Reserve System, 20th and 
Constitution Avenue, N.W., Washington, DC 20551. The request should 
contain the individual's name, date of birth, Social Security number, 
identification number (if known), approximate date of record, and type 
of position.

Contesting record procedures:
    Same as ``Record access procedures'' above.

Record source categories:
    Information comes from the job applicant; the transcript or notes 
from interviews with the applicant; notes from interviews and 
supporting documentation from references; OPM Personnel Management 
Records System; personnel records of other Government civilian or 
military agencies or Federal Reserve Banks; and official transcripts 
and other documentation from schools identified by the applicant.

Systems exempted from certain provisions of the act:
    Pursuant to subsections (k)(2) and (k)(5) of the Privacy Act and 
the Board's regulation relating thereto (12 CFR 261a), certain portions 
of this system of records may be exempted from certain provisions of 
the Act where: (1) such portions represent investigatory material 
compiled for law enforcement purposes, or (2) such portions represent 
investigatory material compiled solely for the purpose of determining 
suitability, eligibility, or qualifications for Board employment to 
extent that disclosure of such portions would reveal the identity of a 
source who furnished information under a promise of confidentiality.
BGFRS - 4

System name:
    FRB -- General Personnel Records

[[Page 22383]]

Security classification:
    None.

System location:
    Board of Governors of the Federal Reserve System, 20th and 
Constitution, N.W., Washington, D.C. 20551

Categories of individuals covered by the system:
    Current and former employees of the Board, and the surviving 
spouses and children of former Board employees.

Categories of records in the system:
    This system of records consists of information relating to 
employment determinations, such as salary and job classification 
actions, disciplinary actions, leave issues, reasonable accommodation 
decisions, Performance Management Program (PMP) appeals, grievances, as 
well as any other decisions made about an individual during the course 
of his or her employment by the Board. These records may contain 
information about employees and former employees relating to 
employment, placement, and personnel actions; academic assistance, and 
training and development activities; health conditions; background 
investigations; and salary actions. PMP ratings are included, but the 
actual PMP form is not included. Also included are: minority group and 
medical disability designators; records relating to benefits and 
designation of beneficiary; emergency contact information; address and 
name changes; information concerning awards; and other information 
relating to the status of the individual while employed by the Board, 
including records of jury duty by the employee and any doctor's 
certificate that may have been filed at the request of the employee 
regarding the employee's health. The system of records also contains 
information regarding surviving beneficiaries of deceased Board 
employees to the extent necessary to provide benefits to those 
individuals. All categories of records may include identifying 
information, such as name, date of birth, home address, mailing 
address, social security number, and home telephone.

Authority for maintenance of the system:
    Sections 10 and 11 of the Federal Reserve Act (12 U.S.C. 244 and 
248(l)).

Purpose(s):
    These records are collected and maintained to assist the Board in 
its personnel actions and decisions, and in the administration of its 
benefits programs.

Routine uses of records maintained in the system, including categories 
of users and the purposes of such uses:
    These records and information in these records may be used:
    a. To disclose information to Government training facilities 
(Federal, State, and local) and to non-Government training facilities 
(private vendors of training courses or programs, private schools, 
etc.) for training purposes.
    b. To disclose information to educational institutions on 
appointment of a recent graduate to a position at the Board, and to 
provide college and university officials with information about their 
students who are working in internships or other similar programs 
necessary to a student's obtaining credit for the experience gained.
    c. To disclose information to the Department of Labor, Department 
of Veterans Affairs, Social Security Administration, Department of 
Defense, a Federal Reserve Bank, or any Federal agencies that have 
special civilian employee retirement programs; or to a national, State, 
county, municipal, or other publicly recognized charitable or income 
security, administration agency (e.g., State unemployment compensation 
agencies), when necessary to adjudicate a claim under the retirement, 
insurance, unemployment, or health benefits programs of the Board, a 
Federal Reserve Bank, or any agency cited above, or to an agency to 
conduct an analytical study or audit of benefits being paid under such 
programs.
    d. To disclose to the Office of Federal Employees Group Life 
Insurance, information necessary to verify election, declination, or 
waiver of regular and/or optional life insurance coverage, eligibility 
for payment of a claim for life insurance, or a Thrift Savings Program 
(TSP) election change and designation of beneficiary.
    e. To disclose to an employee, agent, contractor, or administrator 
of any Board, Federal Reserve System, or Federal government employee 
benefit or savings plan, any information necessary to carry out any 
function authorized under such plan, or to carry out the coordination 
or audit of a benefit or savings plan.
    f. To disclose pertinent information to the appropriate Federal, 
State, or local agency responsible for investigating, prosecuting, 
enforcing, or implementing a statute, rule, regulation, or order, when 
the Board becomes aware of an indication of a violation or potential 
violation of civil or criminal law or regulation.
    g. To disclose information to any source from which additional 
information is requested (to the extent necessary to identify the 
individual, inform the source of the purpose(s) of the request, and to 
identify the type of information requested), when necessary to obtain 
information relevant to a Board decision to hire or retain an employee, 
issue a security clearance, conduct a security or suitability 
investigation of an individual, classify jobs, let a contract, or issue 
a license, grant, or other benefits.
    h. To disclose to a Federal agency in the executive, legislative or 
judicial branch of government, or to a Federal Reserve Bank, in 
response to its request, or at the initiation of the Board, information 
in connection with the hiring of an employee, the issuance of a 
security clearance, the conducting of a security or suitability 
investigation of an individual, the classifying of jobs, the letting of 
a contract, the issuance of a license, grant, or other benefits by the 
requesting agency, or the lawful statutory, administrative, or 
investigative purpose of the agency to the extent that the information 
is relevant and necessary to the requesting agency's decision.
    i. To provide information to a congressional office from the record 
of an individual in response to an inquiry from the congressional 
office made at the request of the individual.
    j. To disclose information to another Federal agency, a court, or a 
party in litigation before a court or in an administrative proceeding 
being conducted by a Federal agency, when the Board or United States is 
a party to the judicial or administrative proceeding.
    k. To disclose information to the Department of Justice, or in a 
proceeding before a court, adjudicative body, or other administrative 
body before which the Board is authorized to appear, when:
    (1) The Board or any employee of the Board in his or her official 
capacity; or
    (2) Any employee of the Board in his or her individual capacity 
where the Department of Justice or the Board has agreed to represent 
the employee; or
    (3) The United States (when the Board determines that the 
litigation is likely to affect the Board) is a party to litigation or 
has an interest in such litigation, and the use of such records by the 
Department of Justice or the Board is deemed by the Board to be 
relevant and necessary to the litigation provided, however, that in 
each case it has been determined that the disclosure is compatible with 
the purpose for which the records were collected.

[[Page 22384]]

    l. By the National Archives and Records Administration in 
connection with records management inspections and its role as 
Archivist.
    m. When an individual to whom a record pertains is deceased, or 
mentally incompetent, or under other legal disability, information in 
the individual's record may be disclosed to the executor of the 
individual's estate, the government entity probating a will, a 
designated beneficiary, or to any person who is responsible for the 
care of the individual, to the extent necessary to assure payment of 
benefits to which the individual, heir, or beneficiary is entitled.
    n. To disclose to the Board-appointed representative of an employee 
all notices, determination, decisions, or other written communications 
issued to the employee, in connection with an examination ordered by 
the Board under fitness-for-duty examination procedures.
    o. To disclose, in response to a request for discovery or for 
appearance of a witness, information that is relevant to the subject 
matter involved in a pending judicial or administrative proceeding.
    p. To disclose to a requesting agency, organization, or individual 
the home address and other relevant information on those individuals 
who it reasonably believed might have contracted an illness or might 
have been exposed to or suffered from a health hazard while employed in 
the Federal workforce.
    q. To disclose information to the Equal Employment Opportunity 
Commission when requested in connection with investigations of alleged 
or possible discrimination practices in the Federal sector, examination 
of Federal affirmative employment programs, or other functions vested 
in the Commission.
    r. To disclose to prospective non-Federal employers the following 
information about a specifically identified current or former Board 
employee: (1) tenure of employment; (2) civil service status; (3) 
length of service at the Board and in the Government; and (4) when 
separated, the date and nature of action as shown on the Job Action.
    s. To disclose information to contractors, agents, or volunteers 
performing or working on a contract, service, cooperative agreement, or 
job for the Board.
    t. To disclose information to a Federal, State or local 
governmental entity or agency (or its agent) when necessary to locate 
individuals who are owed money or property either by a Federal, State, 
or local agency, or by a financial or similar institution.
    u. To disclose to a spouse or dependent child (or court-appointed 
guardian thereof) of a Board employee enrolled in the Federal Employees 
Health Benefits Program, upon request, whether the employee has changed 
from a self-and-family to a self-only health benefits enrollment.
    v. To verify for an entity preparing to make a loan to an employee 
the individual's employment status and salary.
    w. To disclose information to officials of labor organizations 
recognized under applicable law when relevant and necessary to their 
duties of exclusive representation concerning personnel policies, 
practices, and matters affecting working conditions.
    x. To disclose information to the Merit Systems Protection Board or 
the Office of Special Counsel in connection with appeals, special 
studies of the civil service and other merit systems, review of Office 
rules and regulations, investigation of alleged or possible prohibited 
personnel practices, and such other functions promulgated in 5 U.S.C. 
chapter 12, or as may be authorized by law.
    y. To disclose information to officials of foreign governments for 
clearance before a Board employee is assigned to that country.
    z. To disclose information to a Federal, State, or local agency for 
determination of an individual's entitlement to benefits in connection 
with Federal Housing Administration programs.
    aa. To consider and select employees for incentive awards and other 
honors and to publicize those granted. This may include disclosure to 
other public and private organizations, including news media, which 
grant or publicize employee recognition.
    bb. To disclose specific Board or civil service employment 
information required under law by the Department of Defense on 
individuals identified as members of the Ready Reserve to assure 
continuous mobilization readiness of Ready Reserve units and members, 
and to identify demographic characteristics of Board or civil service 
retirees for national emergency mobilization purposes.
    cc. To disclose information to the Department of Defense, National 
Oceanic and Atmospheric Administration, U.S. Public Health Service, 
Department of Veterans Affairs, and the U.S. Coast Guard needed to 
effect any adjustments in retired or retained pay required by the dual 
compensation provisions of section 5532 of title 5, United States Code.
    dd. To disclose information in connection with the investigation 
and resolution of election disputes or other matters within the 
jurisdiction of the Federal Reserve Board Labor Relations Panel when 
requested.
    ee. To disclose relevant information with personal identifiers of 
Board employees to authorized Federal agencies and non-Federal entities 
for use in computer matching. The matches will be performed to help 
eliminate waste, fraud, and abuse in Governmental programs; to help 
identify individuals who are potentially in violation of civil or 
criminal law or regulation; and to collect debts and overpayments owed 
to Federal, State, or local governments and their components. The 
information disclosed may include, but is not limited to, the name, 
social security number, date of birth, sex, annualized salary rate, 
service computation date of basic active service, veteran's preference, 
retirement status, occupational services, health plan code, position 
occupied, work schedule (full time, part time, or intermittent), duty 
station location, standard metropolitan service area, special program 
identifier, and submitting office number of Board employees.
    ff. To disclose information to Federal, State, local, and 
professional licensing boards, Board of Medical Examiners, or to the 
Federation of State Medical Boards or a similar non-government entity 
which maintains records concerning individuals' employment histories or 
concerning the issuance, retention or revocation of licenses, 
certifications or registration necessary to practice an occupation, 
profession or speciality, in order to obtain information relevant to a 
Board decision concerning the hiring, retention or termination of an 
employee or to inform a Federal agency or licensing boards or the 
appropriate non-government entities about the health care practices of 
a terminated, resigned or retired health care employee whose 
professional health care activity so significantly failed to conform to 
generally accepted standards of professional medical practice as to 
raise reasonable concern for the health and safety of patients in the 
private sector or from another Federal agency.
    gg. To disclose information to the Office of Child Support 
Enforcement, Administration for Children and Families, Department of 
Health and Human Services, Federal Parent Locator System and Federal 
Offset System for use in locating individuals, verifying

[[Page 22385]]

social security numbers, and identifying their incomes sources to 
establish paternity, establish and modify orders of support for 
enforcement action.
    hh. To disclose to Federal Reserve Bank personnel responsible for 
assigning examination or inspection staff information concerning a 
current employee's job qualifications and specializations and that 
employee's availability for assignment.

Disclosure to consumer reporting agencies:
    Not applicable.

Policies and practices for storing, retrieving, accessing, retaining, 
and disposing of records in the system:
Storage.
    Records are maintained in file folders, microfiche, and in 
electronic storage media.

Retrievability.
    Records are indexed by name, Social Security number, or 
identification number. Electronically maintained records may be sorted 
and retrieved by other variables, such as date of birth, division in 
which an employee works, or date of hire.

Safeguards.
    Paper or microfiche records are located in locked metal file 
cabinets or in metal file cabinets in secured rooms with access limited 
to those whose official duties require it. Access to electronic records 
is limited, through use of access codes, to those whose official duties 
require it. In addition, access to electronic records can be tracked 
through an automatically-generated audit trail.

Retention and disposal.
    The general employment records are retained indefinitely. An 
individual's benefits records are maintained until the death of the 
last surviving beneficiary.

System manager and address:
    Associate Director, Human Resources Function, Management Division, 
Board of Governors of the Federal Reserve System, 20th &Constitution, 
NW, Washington, DC 20551.

Notification procedure:
    Inquiries should be sent to the Secretary of the Board, Board of 
Governors of the Federal Reserve System, 20th and Constitution Avenue, 
N.W., Washington, DC 20551. The request should contain the individual's 
name, date of birth, Social Security number, identification number (if 
known), approximate date of record, and type of position.

Record access procedures.
    Current Board employees who wish to gain access to or contest their 
records should contact the system manager, address above. Former Board 
employees should direct such a request in writing to the Secretary of 
the Board, Board of Governors of the Federal Reserve System, 20th and 
Constitution Avenue, N.W., Washington, DC 20551. The request should 
contain the individual's name, date of birth, Social Security number, 
identification number (if known), approximate date of record, and type 
of position.

Contesting record procedures:
    Same as ``Notification procedure'' above.

Record source categories.
    Information in this system of records comes from the individual to 
whom it applies or is derived from the information the individual 
supplied, except information provided by Board officials. Information 
is also obtained from the following sources: OPM Personnel Management 
Records System; personnel records of other Government agencies; 
personnel records of Federal Reserve Banks; and official transcripts 
from schools when authorized by the employee.

Systems exempted from certain provisions of the Act:
    Pursuant to subsections (k)(2) and (k)(5) of the Privacy Act and 
the Board's regulation relating thereto (12 CFR 261a), certain portions 
of this system of records may be exempted from certain provisions of 
the Act where: (1) such portions represent investigatory material 
compiled for law enforcement purposes, or (2) such portions represent 
investigatory material compiled solely for the purpose of determining 
suitability, eligibility, or qualifications for Board employment to 
extent that disclosure of such portions would reveal the identity of a 
source who furnished information under a promise of confidentiality.

    By order of the Board of Governors of the Federal Reserve 
System, April 22, 2003.
Jennifer J. Johnson,
Secretary of the Board
[FR Doc. 03-10316 Filed 4-25-03; 8:45 am]
BILLING CODE 6210-01-S