Section 304.11 - Authority, purpose, and scope(a)Authority. This subpart is issued pursuant to 12 U.S.C. 1464(v) , and section 7 (12 U.S.C. 1817(a)(12) ) and section 9 (12 U.S.C. 1819 Tenth) of the Federal Deposit Insurance Act.(b)Purpose. This subpart implements 12 U.S.C. 1817(a)(12) to allow reduced reporting for a covered depository institution when such institution makes its reports of condition for the first and third calendar quarters of a year.(c)Scope. This subpart applies to an insured depository institution, as that term is defined in section 3(c) of the Federal Deposit Insurance Act, 12 U.S.C. 1813(c) , that meets the definition of a covered depository institution under § 304.12 .(d)Preservation of authority. Nothing in this subpart in any way limits the authority of the Corporation under other provisions of applicable law and regulation.