Banking Regulators Extend No-Action Relief on Loans to Insiders
The Federal Reserve Board, the FDIC and the OCC extended previously issued no-action relief to asset managers and other institutions from regulations that limit extensions of credit to "insiders" as defined in Regulation O ("Loans to Executive Officers, Directors, and Principal Shareholders of Member Banks").
The new relief rescinds and supersedes the agencies' prior extension of the no-action relief (see previous coverage). The relief that was set to expire on January 1, 2023 will now expire on the earlier of (i) January 1, 2024 or (ii) the effective date of a final rule by the FRB that revises Regulation O with respect to "treatment of extensions of credit by a bank to fund complex-controlled portfolio companies that are insiders of the bank."
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The FRB, the FDIC and the OCC extended previously issued no-action relief to asset managers and other institutions from certain regulations that limit extensions of credit to "insiders."
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The Federal Reserve Board, the FDIC and the OCC extended time-limited no-action relief to asset managers and other institutions from certain regulations that limit extensions of credit to "insiders."
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The Federal Reserve Board, the FDIC and the OCC provided time-limited no-action relief to asset managers and other institutions from certain regulations that limit extensions of credit to "insiders."
