The Federal Reserve has extended the comment period by a month for proposed changes to its regulation governing extensions of credit to bank “insiders,” such as board directors, executives and major shareholders.
Regulation O governs loans by covered banks to their insiders and affiliates of insiders. The proposed changes would update outdated dollar-based limits on certain types of lending to bank insiders and index them going forward, according to the Fed.
The original deadline for comment was Oct. 5. The new deadline is Nov. 4.
