Reg O Revisions

The Federal Reserve has adopted an Interim Rule, eliminating some Regulation O (loans to insiders) reporting requirements.  The Interim Rule is effective immediately upon Federal Register Publication -- but FRB seek comments for 30 days.  This Interim Rule does not change substantive Reg O requirements, but merely fulfills the statutory mandate of the Reg Relief Act to reduce regulatory burden on banks.

Link to Dec. 6, 2006, Press Release:  http://www.federalreserve.gov/BoardDocs/press/bcreg/2006/200612062/default.htm

(ag) Dec. 8, 2006, in FRB/Lending Issues/Reg Relief