Recordkeeping and Disclosure Requirements Associated with Regulation O

The Board’s Regulation O - Loans to Executive Officers, Directors, and Principal Shareholders of Member Banks (12 CFR Part 215) governs any extension of credit made by a member bank to an insider of the member bank, of any company of which the member bank is a subsidiary, and of any other subsidiary of that company. Insiders include executive officers, directors, principal shareholders, and any related interest of such person. Consistent with statute, the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) have issued regulations generally requiring the depository institutions that they supervise to comply with Regulation O. Regulation O prohibits extensions of credit to insiders unless they are made on substantially the same terms (including interest rates and collateral) as those prevailing at the time for comparable transactions by the bank with other persons who are not employed by the bank and do not involve more than the normal risk of repayment or present other unfavorable features, limits extensions of credit by a member bank to individual insiders and to all insiders, requires a member bank’s board of directors to approve certain large extensions of credit, and sets forth recordkeeping and disclosure requirements.

The latest form for Recordkeeping and Disclosure Requirements Associated with Regulation O expires 2027-03-31 and can be found here.

Recordkeeping Sections 215.8 and 215.9

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