(a) In appropriate situations, a national bank may satisfy the ``written'' notification requirement under Secs. 12.4 and 12.5 through electronic communications. Where a customer has a facsimile machine, a national bank may fulfill its notification delivery requirement by sending the notification by facsimile transmission. Similarly, a bank may satisfy the notification delivery requirement by other electronic communications when:
(1) The parties agree to use electronic instead of hard-copy notifications;
(2) The parties have the ability to print or download the notification;
(3) The recipient affirms or rejects the trade through electronic notification;
(4) The system cannot automatically delete the electronic notification; and
(5) Both parties have the capacity to receive electronic messages.
(b) The OCC would consider the permissibility of other situations using electronic notifications on a case-by-case basis.