[Code of Federal Regulations]
[Title 12, Volume 2]
[Revised as of January 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 12CFR212.3]

[Page 393-394]
 
                       TITLE 12--BANKS AND BANKING
 
                   CHAPTER II--FEDERAL RESERVE SYSTEM
 
PART 212--MANAGEMENT OFFICIAL INTERLOCKS--Table of Contents
 
Sec. 212.3  Prohibitions.

    (a) Community. A management official of a depository organization 
may not serve at the same time as a management official of an 
unaffiliated depository organization if the depository organizations in 
question (or a depository institution affiliate thereof) have offices in 
the same community.
    (b) RMSA. A management official of a depository organization may not 
serve at the same time as a management official of an unaffiliated 
depository organization if the depository organizations in question (or 
a depository institution affiliate thereof) have offices in the same 
RMSA and, in the case of depository institutions, each depository 
organization has total assets of $20 million or more.
    (c) Major assets. A management official of a depository organization 
with total assets exceeding $2.5 billion (or any affiliate of such an 
organization) may not serve at the same time as a management official of 
an unaffiliated

[[Page 394]]

depository organization with total assets exceeding $1.5 billion (or any 
affiliate of such an organization), regardless of the location of the 
two depository organizations. The Board will adjust these thresholds, as 
necessary, based on the year-to-year change in the average of the 
Consumer Price Index for the Urban Wage Earners and Clerical Workers, 
not seasonally adjusted, with rounding to the nearest $100 million. The 
Board will announce the revised thresholds by publishing a final rule 
without notice and comment in the Federal Register.

[61 FR 40302, Aug. 2, 1996, as amended at 64 FR 51679, Sept. 24, 1999]