Recordkeeping and Disclosure Requirements Associated with Regulation O

ICR 202103-7100-012

OMB: 7100-0382

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2021-03-31
IC Document Collections
IC ID
Document
Title
Status
243795
Unchanged
243793
Unchanged
ICR Details
7100-0382 202103-7100-012
Active 202009-7100-005
FRS FR O
Recordkeeping and Disclosure Requirements Associated with Regulation O
Extension without change of a currently approved collection   No
Delegated
Approved without change 03/31/2021
Retrieve Notice of Action (NOA) 03/31/2021
  Inventory as of this Action Requested Previously Approved
03/31/2024 36 Months From Approved 05/31/2021
3,140 0 3,140
9,420 0 9,420
0 0 0

The Board’s Regulation O - Loans to Executive Officers, Directors, and Principal Shareholders of Member Banks (12 CFR Part 215) governs any extension of credit made by a member bank to an executive officer, director, or principal shareholder of the member bank, of any company of which the member bank is a subsidiary, and of any other subsidiary of that company. It prohibits such extensions of credit unless they are made on substantially the same terms (including interest rates and collateral) as those prevailing at the time for comparable transactions by the bank with other persons who are not employed by the bank and do not involve more than the normal risk of repayment or present other unfavorable features. Sections 215.8 and 215.9 of Regulation O contain recordkeeping and disclosure requirements on member banks.

US Code: 12 USC 375b Name of Law: Federal Reserve Act
   US Code: 12 USC 248(a) Name of Law: Federal Reserve Act
   US Code: 12 USC 324 Name of Law: Federal Reserve Act
   US Code: 12 USC 1817(k) Name of Law: Federal Deposit Insurance Act
  
None

Not associated with rulemaking

  85 FR 22345 04/22/2020
86 FR 13384 03/08/2021
No

2
IC Title Form No. Form Name
Disclosure Section 215.9
Recordkeeping Sections 215.8 and 215.9

  Total Approved Previously Approved Change Due to New Statute Change Due to Agency Discretion Change Due to Adjustment in Estimate Change Due to Potential Violation of the PRA
Annual Number of Responses 3,140 3,140 0 0 0 0
Annual Time Burden (Hours) 9,420 9,420 0 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No

$0
No
    No
    No
No
No
No
No
Robert Dahl 202 622-3119 [email protected]

  No

On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
 
 
 
 
 
 
 
    (i) Why the information is being collected;
    (ii) Use of information;
    (iii) Burden estimate;
    (iv) Nature of response (voluntary, required for a benefit, or mandatory);
    (v) Nature and extent of confidentiality; and
    (vi) Need to display currently valid OMB control number;
 
 
 
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
03/31/2021


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