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Inactive Financial Institution Letters 

Reporting Requirements

FIL-77-95
November 14, 1995

 

TO: CHIEF EXECUTIVE OFFICER
SUBJECT: Required Reports of Indebtedness by
Executive Officers and Principal Shareholders

The enclosed form is for use in complying with the reporting requirements of Title VIII of the Financial Institutions Regulatory and Interest Rate Control Act of 1978 for calendar year 1995. The Act requires each bank's executive officers and principal shareholders to submit an annual report to their board of directors on their indebtedness, and that of their related interests, to correspondent banks. Form FFIEC 004 is designed to assist executive officers and principal shareholders of a bank in meeting this reporting requirement.

In addition, Part 349 of the FDIC's rules and regulations requires a bank to disclose to the public, upon request, the names of its executive officers and principal shareholders who have indebtedness to their own bank, or to correspondent banks, that exceeds a specified amount. Form FFIEC 004 contains the information to be used to make these disclosures on indebtedness to correspondent banks.

Detailed instructions for the preparation of form FFIEC 004 are included on the back of the report. The reports should be retained by your bank and not forwarded to the FDIC. Any questions you may have should be directed to your FDIC Division of Supervision regional office.

Nicholas J. Ketcha Jr.
Acting Director

Enclosure

Distribution: FDIC-Supervised Banks

Last Updated 07/16/1999 communications@fdic.gov