WASHINGTON, Aug. 4 -- Federal Reserve System has issued a proposed rule called: Loans to Executive Officers, Directors, and Principal Shareholders of Member Banks; Bank Holding Companies.
The proposed rule was published in the Federal Register on Aug. 4 by Benjamin W. McDonough, Secretary of the Board.
Summary: The Board is inviting public comment on proposed amendments to Regulation O, which governs loans by member banks to their insiders and insiders of their affiliates. The proposed amendments would update and modernize the regulation, increase transparency by clarifying requirements and incorporating existing interpretations, and promote efficiency by reducing regulatory burden. The proposed amendments also would incorporate existing ...