Section 4
SEC. 4. Section 27 of the same Act is hereby amended to read as follows; "SEC. 27. Prohibitions.—Personnel of the Central Bank are hereby prohibited from: Being an officer, director, employee, or stockholder, directly or indirectly, of any institution subject to supervision or examination by the Central Bank, except non-stock savings and loan associations and provident funds organized exclusively for employees of the Central Bank, and except as otherwise provided in this Act; Receiving any gift or thing of value from any officer, director, or employee thereof; Revealing in any manner, except under order of the court, or under such conditions as may be prescribed by the Monetary Board, information relating to the condition or business of any such institution. This prohibition shall not be held to apply to the giving of information to the Monetary Board or the Governor of the Central Bank, or to any person authorized by either of them, in writing, to receive such information. "Notwithstanding the provisions of this Section and Section 8, members of the Monetary Board and deputy-governors and other personnel of the Central Bank may become directors of any institution subject to supervision or examination by the Central Bank and of any entity related to such institution in connection with financial assistance extended by the Central Bank to such institution and when in the opinion of the Monetary Board it is appropriate to make such designation to protect the interest of the Central Bank. "Borrowing from any institution subject to supervision or examination by the Central Bank by examiners and other personnel of the supervising and examining departments of the Central Bank shall be prohibited only with respect to the particular institution in which they are assigned, or are conducting an examination: Provided, however, That any credit union or cooperative composed of personnel of the supervising and examining departments of the Central Bank may borrow any time from such institution, subject to Monetary Board approval and provided that the loan is fully secured. Personnel of other departments, offices, or units of the Central Bank shall likewise be prohibited from borrowing from any financial institution during the period of time that an application with the Central Bank of such institution is being evaluated, processed, or acted upon by such personnel: Provided, however, That the Monetary Board may, at its discretion, indicate the position levels or functional groups to which the prohibition is applicable. "Borrowing by all full-time Central Bank personnel from any institution subject to supervision or examination by the Central Bank shall be fully secured, fully disclosed to the Monetary Board, and shall be subject to such further rules and regulations as the Monetary Board may prescribed."