Section 1003.5 - Grounds on which meetings may be closed or information withheldA meeting, or portion thereof, may be closed and information pertinent to such meeting withheld if the Board determines that the meeting or release of information is likely to disclose matters that are:
(a) Specifically authorized under criteria established by an executive order to be kept secret in the interests of national defense or foreign policy; and, in fact, are properly classified pursuant to such executive order. In making the determination that this exemption applies, the Board shall rely on the classification assigned to the document or assigned to the information from the federal agency from which the document was received.(b) Related solely to the internal personnel rules and practices of the Board;(c) Specifically exempt from disclosure by statute (other than 5 U.S.C. 552 ), provided that such statute:(1) Requires that the matters be withheld from the public in such a manner as to leave no discretion on the issue; or(2) Establishes particular criteria for withholding or refers to particular types of matters to be withheld;(d) Trade secrets and commercial or financial information obtained from a person and privileged or confidential;(e) Involved with accusing any person of a crime or formally censuring any person;(f) Of a personal nature, if disclosure would constitute a clearly unwarranted invasion of personal privacy;(g) Either investigatory records compiled for law enforcement purposes or information which, if written, would be contained in such records, but only to the extent that the production of records or information would:(1) Interfere with enforcement proceedings;(2) Deprive a person of a right to either a fair trial or an impartial adjudication;(3) Constitute an unwarranted invasion of personal privacy;(4) Disclose the identity of a confidential source or sources and, in the case of a record compiled either by a criminal law enforcement authority or by an agency conducting a lawful national security intelligence investigation, confidential information furnished only by the confidential source(s);(5) Disclose investigative techniques and procedures; or(6) Endanger the life or physical safety of law enforcement personnel;(h) Contained in or relating to examination, operating, or condition reports prepared by, on behalf of, or for the use of an agency responsible for the regulation or supervision of financial institutions;(i) If prematurely disclosed, likely to significantly frustrate implementation of a proposed action of the Board, except that this subsection shall not apply in any instance where the Board has already disclosed to the public the content or nature of its proposed action or is required by law to make such disclosure on its own initiative prior to taking final action on such proposal; and(j) Specifically concerned with the Board's issuance of a subpoena, or its participation in a civil action or proceeding, an action in a foreign court or international tribunal, or an arbitration, or the initiation, conduct, or disposition by the Board of a particular case or formal agency adjudication pursuant to the procedures in 5 U.S.C. 554 or otherwise involving a determination on the record after opportunity for a hearing.