Management Official Interlocks

Короткий зміст

The Board of Governors of the Federal Reserve System is proposing to amend its regulations that implement the Depository Institution Management Interlocks Act (Interlocks Act or Act). The Interlocks Act generally prohibits certain management official interlocks between depository institutions, depository holding companies, and their affiliates. The proposed amendment would create limited exemptions to the prohibition on management official interlocks between certain depository organizations located in the same community or relevant metropolitan statistical area (RMSA). These exemptions would permit management official interlocks between depository organizations that together control only a small percentage of the total deposits in the community or RMSA. These exemptions are based on the Board's belief that these management interlocks would not threaten to inhibit or restrict competition among depository organizations. In addition, the Board is soliciting comment generally on revisions to the existing Interlocks Act regulations that the Board should consider, including the addition of other exemptions. The Board also is proposing amendments to implement certain provisions of the Man