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F e d e r a l R e s e r v e B an k o f D alla s
DALLAS. TEXAS

75222
Circular No. 82-171
Decem ber 22, 1982

REGULATION O
LOANS TO EXECUTIVE OFFICERS, DIRECTORS, AND
PRINCIPAL SHAREHOLDERS OF MEMBER BANKS
(Forms FFIEC 003 and 004)
TO THE CHIEF EXECUTIVE OFFICER
OF ALL MEMBER BANKS IN THE
ELEVENTH FEDERAL RESERVE DISTRICT:
On November 21, 1979, the Federal Reserve Board published amend­
ments to its Regulation O to implement the reporting requirements of Titles VIII
and IX of the Financial Institutions Regulatory and Interest Rate Control A ct of
1978 (FIRA). T itles VIII and IX and Regulation O require two separate types of
reports: (1) an annual report to be submitted by executive officers and principal
shareholders of member banks to the boards of directors o f their banks with
respect to indebtedness o f the execu tive o fficers and principal shareholders and
their related interests to the member bank's correspondent banks; and (2) a report
to be submitted by each member bank to its primary federal bank supervisor
concerning the principal shareholders o f the reporting bank and the indebtedness of
its executive o fficers and principal shareholders and their related interests to the
reporting bank itself and to its correspondent banks.
Two forms are enclosed for your use and the use o f your executive
o fficers and principal shareholders in fulfilling these reporting requirements. Only
one copy of each form is provided. Please duplicate the forms in accordance with
your needs. Both forms have been approved by the Federal Financial Institutions
Examination Council (FFIEC) for use by all federally-insured banks and by their
executive o fficers and principal shareholders. Thus, all insured banks will be using
uniform report forms in complying with the reporting requirements of T itles VIII
and IX of FIRA. Forms are being provided to national banks at the request o f the
Comptroller o f the Currency.
The first form is Form FFIEC 003 which member banks are required
under Regulation O to file either with the appropriate Federal Reserve Bank, in
the case of State member banks, or the Regional Administrator, in the case of
national banks. The report must be filed by March 31 of each year and covers the
previous calendar year. The tim e period covered by the 1983 report is January 1
to Decem ber 31, 1982.
Some o f the information required to be filed on
Form FFIEC 003 will be taken from the FFIEC 004 (or similar form) forms
submitted to the member banks by their executive o fficers and principal
shareholders.
The other
executive o fficers and
reporting requirements
the form available to

form enclosed, Form FFIEC 004, is provided to assist
principal shareholders o f member banks in m eeting their
under Title VIII of FIRA. Your bank should make copies of
your executive o fficers and principal shareholders. The

Banks and others are encouraged to use the following Incoming W ATS numbers in contacting this Bank:
1-800-442-7140 (intrastate) and 1-800-527-9200 (interstate). For calls placed locally, please use 651 plus the
extension referred to above.

This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)

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execu tive o fficers and principal shareholders can, if they wish, provide the required
information on other forms.
E xecutive o fficers and principal shareholders subject to the reporting
requirements of Title VIII o f FIRA must file annual reports concerning their
indebtedness, and the indebtedness o f their related interests, to the correspondent
banks o f the member bank. These reports are filed with the member bank's board
of directors by January 31 o f each year. The 1983 report covers the period
January 1 to Decem ber 31, 1982.
Each member bank should notify its executive o fficers and principal
shareholders of the reporting requirements of T itle VIII of FIRA. The persons
notified should include any person who was an executive o fficer or principal
shareholder of the member bank during the period January 1 to Decem ber 31, 1982,
since all o f these persons are subject to reporting requirements if they were
indebted to a correspondent bank o f the member bank during this period. Each
member bank is also required to make available to its executive o fficers and
principal shareholders a list o f 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 similar form, that is filed by execu tive 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 o f the
examination o f the member bank. The reports filed by executive o fficers and
principal shareholders are not required to be filed with the Reserve Bank or
Regional Administrator.
Form FFIEC 003, which is
Bank or the Regional Administrator,
member bank and the primary federal
o f the report available to the public

filed by the member bank with the Reserve
is subject to public disclosure. Both the
bank supervisor are required to make a copy
upon request.

The Garn-St. Germain Depository Institutions A ct o f 1982 authorizes
the regulatory agencies to develop alternative reporting and disclosure require­
ments which will result in the replacem ent o f the current FFIEC 003 and 004
forms.
The agencies are now considering alternative requirements.
When
replacem ent forms are developed, they will be submitted to the banking industry
for public comment.
Any suggestions that you might have at this tim e on
alternative requirements will be appreciated.
Questions your bank may have on the current forms or Regulation O
may be directed to Marvin C. McCoy, Extension 6657, or William C. Reddick,
Extension 6652, in this Bank's Bank Supervision and Regulations Department.
Additional copies of this circular will be furnished upon request to the
Department of Communications, Financial and Community Affairs, Extension 6289.
Sincerely yours,

William H. Wallace
First Vice President
Enclosures