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Federal R eserve Bank OF DALLAS W ILL IA M H. WALLACE DALLAS, TEXAS 7 5 2 2 2 FIRST VIC E PR E S ID E N T and chief operating officer December 15, 1989 Circular TO: 89-79 The Chief Executive O f f i c e r o f a l l member banks concerned in t h e Eleventh Federal Reserve D i s t r i c t SUBJECT Form FFIEC 004, Report o f Indebtedness o f Executive O ff ic e r s and Principal Shareholders and Their Related I n t e r e s t s to Correspondent Banks DETAILS Since 1979, member banks have been s u b j e c t t o c e r t a i n r e p o r t i n g and d i s c l o s u r e r e q u ir em e nt s s e t f o r t h under t h e Board’ s R eg ul at i on 0. These r e q u ir e me n ts were e s t a b l i s h e d under T i t l e s VIII and IX o f t h e F ina nc ia l I n s t i t u t i o n s Regul ator y and I n t e r e s t Rate Control Act o f 1978 (FIRA). The Garn-St Germain De posito ry I n s t i t u t i o n s Act o f 1982 has s i n c e amended some of t h e s e r e p o r t i n g and d i s c l o s u r e r e q u i r e m e n t s . A copy o f Form FFIEC 004 i s e ncl ose d t o a s s i s t your b a n k a n d your bank’ s e x e c u t i v e o f f i c e r s and p r i n c i p a l s h a r e h o l d e r s r e g a r d i n g compliance with t h e r e p o r t i n g and d i s c l o s u r e re q ui re me n ts s e t f o r t h in Reg ul ati on 0. Executive o f f i c e r s and p r i n c i p a l s h a r e h o l d e r s s u b j e c t t o t h e r e p o r t i n g re q ui re me n ts o f T i t l e VIII o f FIRA must f i l e annual r e p o r t s concerning t h e i r i n d e b t e d n e s s , and t h e i nde bt e dn es s o f t h e i r r e l a t e d i n t e r e s t s , t o t h e c or re sp o nd e nt banks o f t h e member bank. These r e p o r t s are f i l e d with t h e member bank’ s board o f d i r e c t o r s by Janua ry 31 o f each y e a r . The 1990 r e p o r t cover s t h e p er iod J anuary 1 t o December 31, 1989. Each member bank should n o t i f y i t s e x e c u t i v e o f f i c e r s and p r i n c i p a l s h a r e h o l d e r s o f t h e r e p o r t i n g re q ui re me n ts o f T i t l e VIII o f FIRA. The persons n o t i f i e d should i nc l u d e any person who was an e x e c u t i v e o f f i c e r or p r i n c i p a l s h a r e h o l d e r o f t h e member bank du ri ng t h e p er io d Jan ua ry 1 t o December 31, 1989, s i n c e a l l o f t h e s e persons a re s u b j e c t t o r e p o r t i n g r e q u ir e me n ts i f they were ind ebt ed t o a c o r r e sp o nd e nt bank o f t h e member bank du ri ng t h i s p e r i o d . Each member bank i s a l s o r e q u i r e d t o make a v a i l a b l e t o i t s e x e c u t i v e o f f i c e r s and p r i n c i p a l s h a r e h o l d e r s a l i s t o f t h e member bank’ s c or re sp on de n t banks. A c o rr e s p o n d e n t bank i s d e f i n e d as a bank t h a t m a i n t a i n s one or more c or re s p o n d e n t accounts f o r a member bank du ri ng t h e c a l e n d a r y e a r t h a t in t he a g g r eg at e exceed c e r t a i n amounts s p e c i f i e d in t h e r e g u l a t i o n . For additional copies of any circular please contact the Public A ffairs Departm ent at (214) 6 51 -6 2 8 9 . Banks and others are encouraged to use the following incoming W A TS numbers in contacting this Bank (800) 4 4 2 -7 1 4 0 (in trastate) and (800) 5 2 7 -9 2 0 0 (interstate). This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org) Form FFIEC 004, o r a s i m i l a r form, t h a t i s f i l e d by e x e c u t i v e o f f i c e r s and p r i n c i p a l s h a r e h o l d e r s , must be kept on f i l e a t t h e member bank f o r a p e r i o d o f t h r e e y e a r s . These r e p o r t s a r e not r e q u i r e d t o be made a v a i l a b l e t o t h e p u b l i c , however, t h e r e p o r t s w i l l be reviewed by examiners dur ing t h e c ou rs e o f t h e examination of t h e member bank. The r e p o r t s f i l e d by e x e c u t i v e o f f i c e r s and p r i n c i p a l s h a r e h o l d e r s a re not r e q u i r e d t o be f i l e d with t h e Reserve Bank or Regional A d m i n i s t r a t o r . The e nc l os ed Form FFIEC 004 i s provided t o your bank t o a s s i s t your e x e c u t i v e o f f i c e r s and p r i n c i p a l s h a r e h o l d e r s in meeting t h e i r c o n t i n u i n g r e p o r t i n g r e q u ir e me n ts under T i t l e VIII o f FIRA. The e x e c u t i v e o f f i c e r s and p r i n c i p a l s h a r e h o l d e r s can, i f th e y wish, p rov id e t h e r e q u i r e d i n f or m a t i on on o t h e r forms. P l e a se d u p l i c a t e t h e form in accordance with your needs. Forms are being provided to national banks at the request o f the Comptroller o f the Currency. Form FFIEC 004 has been approved by t h e FFIEC f o r use by e x e c u t i v e o f f i c e r s and p r i n c i p a l s h a r e h o l d e r s in complying with t h e r e p o r t i n g r e q u ir e me n ts o f T i t l e VIII o f FIRA. ENCLOSURES The FFIEC 004 form i s e n cl o s e d . MORE INFORMATION Any q u e s t i o n s your bank may have on t h e c u r r e n t forms should be d i r e c t e d t o James Dean o r Gary Krumm a t (214) 744-7328 o r 744-7434, r e s p e c t i v e l y . Questions r e g a r d i n g t h e r e g u l a t i o n should be d i r e c t e d t o Dean A. Pankonien a t (214) 651-6228. Sincerely yours,
@FedFRASER