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Federal R eserve bank OF DALLAS WILLIAM H. WALLACE F IR S T VICE P R E S ID E N T tr\r> r- DALLAS, TEXAS 75222 December ll, 1986 Circular 86-107 TO: The Chief Executive Officer of all member banks concerned in the Eleventh Federal Reserve District SUBJECT Form FFIEC 004, Report on Indebtedness o f Executive O fficers and Principal Shareholders and Their Related In terests to Correspondent Banks DETAILS Since 1979 member banks have been subject to certain reporting and disclosure requirements set forth under the Board's Regulation 0, such requirements established under Titles VIII and IX of the Financial Institutions Regulatory and Interest Rate Control Act of 1978 (FIRA). The Garn-St Germain Depository Institutions Act of 1982 amended certain of the reporting and disclosure requirements. A copy of Form FFIEC 004 is enclosed to assist your bank and your bank's executive officers and principal shareholders regarding compliance with the reporting and disclosure requirements set forth in Regulation 0. Executive officers and principal shareholders subject to the reporting requirements of Title VIII of FIRA must file annual reports concerning their indebtedness, and the indebtedness of their related interests, to the correspondent banks of the member bank. These reports are filed with the member bank's board of directors by January 31 of each year. The 1987 report covers the period January 1 to December 31, 1986. Each member bank should notify its executive officers and principal shareholders of the reporting requirements of Title VIII of FIRA. The persons notified should include any person who was an executive officer or principal shareholder of the member bank during the period January 1 to December 31, 1986, since all of these persons are subject to reporting requirements if they were indebted to a correspondent bank of the member bank during this period. For additional copies of any circular please contact the Public Affairs Department at (214) 651-6289. Banks and others are encouraged to use the following incoming WATS numbers in contacting this Bank (800) 442-7140 (intrastate) and (800) 527-9200 (interstate). This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org) - 2 - Each member bank is also required to make available to its executive officers and principal shareholders a list of the member bank's correspondent banks. A correspondent bank is defined as a bank that maintains one or more correspondent accounts for a member bank during the calendar year that in the aggregate exceed certain amounts specified in the regulation. Form FFIEC 004, or a similar form, that is filed by executive officers and principal shareholders, must be kept on file at the member bank for a period of three years. These reports are not required to be made available to the public; however, the reports will be reviewed by examiners during the course of the examination of the member bank. The reports filed by executive officers and principal shareholders are not required to be filed with the Reserve Bank or Regional Administrator. The enclosed Form FFIEC 004 is provided to your bank to assist your executive officers and principal shareholders in meeting their continuing reporting requirements under Title VIII of FIRA. The executive officers and principal shareholders can, if they wish, provide the required information on other forms. Please duplicate the form in accordance with your needs. Forms are being provided to national banks a t the request o f the Comptroller o f the Currency. Form FFIEC 004 has been approved by the FFIEC for use by executive officers and principal shareholders in complying with the reporting requirements of Title VIII of FIRA. ENCLOSURES The FFIEC 004 form is enclosed. M R INFORM OE ATION Any questions your bank may have on the current forms should be directed to Linda Myers or Gary Krumm at (214) 651-6670 or 651-6671, respectively. Questions regarding the regulation should be directed to this Bank's Legal Department at (214) 651-6228. Sincerely yours,
@FedFRASER