Final Rule Approved to Implement Section 601 of Financial Services Regulatory Relief Act of 2006
May 29, 2007
Circular No. 11863

The Federal Reserve Board has announced the approval of a final rule that would implement section 601 of the Financial Services Regulatory Relief Act of 2006, which eliminated several statutory reporting and disclosure requirements relating to insider lending by insured depository institutions.

The final rule amends the Board's Regulation O (12 CFR part 215) to reflect the elimination of these reporting and disclosure requirements. The final rule does not alter the substantive restrictions on loans by insured depository institutions to their insiders or to insiders of their correspondent banks.

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