What a confusing regulation.

Is this correct:

For extension of credit to Executive Officers for "other purpose" loans, amounts are limited to $25,000 or 2.5% of unimpaired capital and unimpaired surplus, whichever is greater, up to $100,000

For directors, principal shareholders and related interests AND Executive Officers, rules concerning prohibitions, board approval, borrowing amounts, and aggregation of credit apply.

For executive officers and directors, overdraft rules apply.

I've never paid much attention to Reg. O because there was no need, and now that I need to understand it, I see it's no easy task.

Don't forget that for Executive Officers all extensions of credit must be "Made subject to the condition in writing that the extension of credit will, at the option of the member bank, become due and payable at any time that the officer is indebted to any other bank or banks in an aggregate amount greater than the amount specified for a category of credit in paragraph (c) of this section [215.5]".

Lois, it is truly an aggravating reg...HOWEVER, that said...if you have to utilize it on a regular basis, it becomes clearer each time you look at it. be SURE you pay attention to the footnotes!