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F ederal R eserv e Bank OF DALLAS ROBERT D. M C T E E R , J R . P R E S ID E N T A N D C H IE F E X E C U T I V E O F F I C E R D A LLA S , TE X A S 75265-590 6 August 4, 1994 Notic e 94-78 TO: The C h ie f Executive O f f i c e r o f each member bank and o t h e r s concerned in th e Eleventh Federal Reserve D i s t r i c t SUBJECT Technical Amendments and C o r r e c t i o n s t o R egu la tion 0 (Loans t o Executive O f f i c e r s , D i r e c t o r s , and P r i n c i p a l Sh a re ho ld e rs o f Member Banks) DETAILS The Board o f Governors o f th e Federal Reserve System has is sue d t e c h n i c a l amendments and c o r r e c t i o n s to Regulati on 0 (Loans t o Executive O f f i c e r s , D i r e c t o r s , and P r i n c i p a l Sh are h old ers of Member Banks), which was pub l i s h e d on February 24, 1994. The r e g u l a t i o n s e t s f o r t h v a r i o u s re qu ir e m e n ts and r e s t r i c t i o n on lo a n s by a member bank t o i t s i n s i d e r s and t o i n s i d e r s o f i t s a f f i l i a t e s . The amendments and c o r r e c t i o n s became e f f e c t i v e J u l y 19, 1994. ATTACHMENT A copy o f t h e Board’ s n o t i c e (Federal Reserve System Docket Nos. R-0800 and R-0809) i s a t t a c h e d . MORE INFORMATION For more in f o r m a tio n , p l e a s e c o n t a c t Jane Anne Schmoker a t (214) 922-5101. For a d d i t i o n a l cop ie s o f t h i s Bank’ s n o t i c e , p l e a s e c o n t a c t th e P u b li c A f f a i r s Department a t (214) 922-5254. S i n c e r e l y y o u rs , For additional copies, bankers and others are encouraged to use one of the following toll-free numbers in contacting the Federal Reserve Bank of Dallas: Dallas Office (800) 333-4460; El Paso Branch Intrastate (800) 592-1631, Interstate (800) 351-1012; Houston Branch Intrastate (800) 392-4162, Interstate (800) 221-0363; San Antonio Branch Intrastate (800) 292-5810. This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org) FEDERAL RESERVE SYSTEM 12 CFR Part 215 [Regulation O; Docket Nos. R-0800 and R-0809] Loans to Executive Officers, Directors, and Principal Shareholders of Member Banks; Loans to Holding Companies and Affiliates; Correction AGENCY: Board of Governors of the Federal Reserve System ACTION: Corrections to final regulation. SUMMARY: This document contains technical corrections to the final regulation (12 CFR Part 215) that was published February 24, 1994 (59 FR 8831). The regulation sets forth various requirements and restriction on loans by a member bank to its insiders and to insiders of its affiliates. EFFECTIVE DATE: July 19, 1994. FOR FURTHER INFORMATION CONTACT: Gordon Miller, Attorney (202/452-2534), Legal Division, Board of Governors of the Federal Reserve System, 20th and C Street, NW., Washington, D.C. 20551. For the hearing impaired only. Telecommunications for the Deaf (TDD), Dorothea Thompson (202/452-3544). SUPPLEMENTARY INFORMATION: Background The final regulation that is the subject of these corrections makes permanent an interim rule increasing the aggregate lending limit for small, adequately capitalized banks from 100 percent of unimpaired capital and surplus to 200 percent. The final regulation also reduces the burden and complexity of the regulation and implements certain technical - 2 - amendments in order to make it more readily understandable and somewhat shorter. Correction of Publication As published, the final regulation contains certain errors. Accordingly, the publication on February 24, 1994, of the final regulation, which was the subject of FR Doc. 94-3860, is corrected as follows: § 215.2 [corrected] 1. On page 8838, in the first column, in paragraph (c)(4), the phrase "paragraph (b)(2) of this section" is corrected to read "paragraph (c)(2) of this section". 2. On page 8838, in the first column, in paragraph (d), in the first sentence, the phrase "Director of a member bank means any director of a member bank" is corrected to read "Director of a company or bank means any director of the company or bank". § 215.3 [corrected] 3. On page 8839, in the first column, in paragraph (b)(2), the word "§ 215(4)(e)" is corrected to read "§ 215.4(e)". § 215.4 [corrected] 4. On page 8840, in the second column, in paragraph (e)(1), the phrase "No member bank may pay an overdraft of an executive officer or director of the bank" is corrected to read "No member bank may pay an overdraft of an executive officer or director of the bank or executive officer or director of its affiliates", and the footnote immediately following the original phrase is corrected to immediately follow the corrected phrase. 5. On page 8840, in the second column, in paragraph (e)(1), in footnote 3, in the second sentence, the phrase "executive officer, director, or - 3 - principal shareholder of the member bank" is corrected to read "executive officer, director, or principal shareholder of the member bank or executive officer, director, or principal shareholder of its affiliates". § 215.5 [corrected] 6. On page 8840, in the third column, in paragraph (b)(2), the phrase "paragraph (c)(3) of this section" is corrected each time it appears to read "paragraph (c)(4) of this section". 7. On page 8841, in the first column, in paragraph (c)(4), the phrase "capital and unimpaired surplus" is corrected to read "unimpaired capital and unimpaired surplus". § 215.11 [corrected] 8. On page 8842, in the first column, in paragraph (b)(1), in the first sentence, the word "of as it appears before the word "$500,000" is corrected to read "or". Board of Governors of the Federal Reserve System, July 19, 1994. (Signed) William W. Wiles William W. Wiles Secretary of the Board [FR Doc. 94-00000 Filed 00-00-94; 8:45 am]
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