View original document

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

Federal Deposit Insurance Corporation

Division of Supervision

550 17th Street NW, Washington, DC 20429

Management Interlocks
February 13, 1995



Withdrawal of Proposed Amendments to the FDIC's Management Interlocks Regulations


The Riegle Community Development and Regulatory Improvement Act of 1994 limited the flexibility of the
FDIC and other federal regulators to grant exceptions to the general prohibition against management
interlocks in the banking industry. As a result, on January 31, 1995, the FDIC Board withdrew proposed
amendments from February 1994 that would have permitted certain management interlocks not
authorized under the new law.


The FDIC is working with the Office of the Comptroller of the Currency, the Federal Reserve System, the
Office of Thrift Supervision and the National Credit Union Administration to revise existing interlocks
regulations to reflect the 1994 statutory changes that permit certain limited exceptions. Proposed rules
are expected to be issued for public comment in the next few months.
Attached is a copy of the FDIC's announcement regarding the withdrawal of the 1994 proposal. For more
information, please contact Curtis L. Vaughn, an Examination Specialist in the Division of Supervision
(202-898-6759), or Mark Mellon, a Senior Attorney in the Legal Division (202-898-3854).
Stanley J. Poling

Attachment: PDF Format (20 kb, PDF help or hard copy), HTML Format


Distribution: FDIC-Supervised Banks (Commercial and Savings)