Bankowość · 10/10/2019

Thresholds Increase for the Major Assets Prohibition of the Depository Institution Management Interlocks Act Rules

The Office of the Comptroller of the Currency (OCC), the Federal Reserve Board, and the Federal Deposit Insurance Corporation (FDIC) are issuing a final rule that increases the thresholds for the major assets prohibition on management interlocks for the Depository Institution Management Interlocks Act (DIMIA). The new thresholds are $10 billion for depository organizations and $5 billion for their affiliates, and $10 billion for unaffiliated depository organizations and $5 billion for their affiliates, effective January 1, 2024.