We have adopted an employee loan program. Loans to insiders and executive officers are of course subject to Reg O limitations. Now the question has come up whether there are any limits on total loans to all employees? I am not aware of any but want to check with you pros.

Not outside of the Reg. O limits, which do not apply to all the employees.

"O" was written to prevent insider abuse. This is not likely to occur with an employee portfolio.