Review of the Failure of Waccamaw Bank

Review and update the Board's Guidelines for Appeals of Material Supervisory Determinations to establish a framework for Federal Reserve Bank Presidents and the Board to conduct appeals. In addition to any enhancements identified during the review, the framework should address

1. 1. the standard of review for the appeal.
   2. whether the appellant has the burden of proof to demonstrate that the material supervisory determination should be reversed.
   3. whether the party assessing the higher-level appeal is limited to reviewing the prior factual record.
   4. whether the appellant has the right to comment on the evidence providing the basis for the initial material supervisory determination, even if confidential supervisory information protections apply.