WASHINGTON, Aug. 6 -- Federal Deposit Insurance Corporation has issued a proposed rule called: Extensions of Credit to Insiders.
The proposed rule was published in the Federal Register on Aug. 6 by Jennifer M. Jones, Deputy Executive Secretary.
Summary: The Federal Deposit Insurance Corporation (FDIC) is proposing to increase quantitative thresholds for certain extensions of credit to insiders of FDIC-supervised institutions, as restricted by the Federal Reserve Act and regulations promulgated thereunder. Specifically, the proposal would increase the thresholds for certain extensions of credit to executive officers not otherwise specifically authorized by statute from $100, 000 to $400, 000; and extensions of credit to insiders requiring ...