Loans to Executive Officers, Directors, and Principal Shareholders of Member Banks; Loans to Holding Companies and Affiliates

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The Board is revising Regulation O to permit the aggregate limit on lending to insiders by eligible, adequately capitalized small banks to be increased from 100 percent of unimpaired capital and surplus to 200. The Board also is revising Regulation O to permit banks to follow alternative recordkeeping procedures on loans to insiders of affiliates, to narrow the definition of ``extension of credit,'' and to adopt certain exceptions to the general restrictions on lending to insiders and the special restrictions on lending to executive officers. Other minor revisions clarifying certain exemptions and conforming certain provisions to the enabling statutes are included as well.