Federal Reserve Board announces it will extend, until November 4, the comment period on its proposal to modernize Regulation O

The Federal Reserve Board announced Friday that it will extend, until November 4, the comment period on its proposal to modernize Regulation O, its rule governing the extension of credit by a bank to its "insiders"—bank executives, board members and major shareholders who could potentially influence a bank's lending decisions. The Board extended the comment period to allow interested parties more time to analyze the issues and prepare their comments. For media inquiries, please email [email protected] or call 202-452-2955. Federal Register notice: Loans to Executive Officers, Directors, and Principal Shareholders of Member Banks: Bank Holding Companies (PDF)