Required Forms For Reg O Compliance: What do directors and executives need to sign? Answer by: Andy Zavoina, BOL Guru BIO AND CONTACT INFO
Question: What forms are required to be completed by Executive Officers and Directors for Reg O on an annual basis? We are a national bank. I have the Report on Indebtedness. Don't we have to complete a form listing affiliated parties and have to complete a Directors Oath?
Answer: I won't say this list is exhaustive, but:
* §215.12 Reporting requirement for credit secured by certain bank stock.
* §215.22 Report by executive officers and principal shareholders who has outstanding an extensions of credit from a correspondent bank.
* §215.8(b) (1) & (c) (1) (Various methods are possible, but these may be annual requirements if you handle them in this manner.) Survey method. (i) Identifying, through an annual survey, all insiders of the bank itself; and each insider of the member bank’s affiliates; (this also requires you to track the debts)
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