Amendments to Management Interlocks Regulations
The FDIC Board
of Directors is issuing for public comment proposed revisions to
its management interlocks regulations. With certain exceptions,
these rules prohibit bank management officials from simultaneously
serving in a similar capacity with other financial institutions.
The proposal would implement recent statutory changes, including
new restrictions on the authority of federal regulators to permit
certain interlocks. Other aspects of the proposal are intended to
streamline and clarify the rules.
A copy of the
proposed rule is attached. Written comments are due by February
27, 1996. Similar revisions are being proposed by the Federal Reserve
Board, the Office of the Comptroller of the Currency and the Office
of Thrift Supervision.
the FDIC's proposed rule should be directed to Mark Mellon, Counsel
in the Legal Division at 202-898-3854, or Curtis Vaughn, Examination
Specialist in the Division of Supervision at 202-898-6759.