FDIC proposes raising limits on loans to bank insiders
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Table of Contents
The Federal Deposit Insurance Corporation (FDIC) is proposing to raise the dollar amounts that trigger certain restrictions on loans made to people close to a bank, such as executive officers or board members.
Why it matters: This is primarily an administrative change intended to update outdated dollar limits. It reduces the frequency of required board approvals and regulatory filings for mid-sized loans to bank leadership.
Who it affects
- FDIC-supervised banks and their executive officers
This is a proposed rule from the FDIC; readers should consult the Federal Register before taking action or relying on these new limits.
Agency: Federal Deposit Insurance Corporation
Source: Federal Register — read the official document