[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: 12CFR215.23]

[Page 436]
 
                       TITLE 12--BANKS AND BANKING
 
                   CHAPTER II--FEDERAL RESERVE SYSTEM
 
PART 215--LOANS TO EXECUTIVE OFFICERS, DIRECTORS, AND PRINCIPAL SHAREHOLDERS OF MEMBER BANKS (REGULATION O)--Table of Contents
 
 Subpart B--Reports on Indebtedness of Executive Officers and Principal 
                   Shareholders to Correspondent Banks
 
Sec. 215.23  Disclosure of credit from correspondent banks to executive officers and principal shareholders.

    (a) Public disclosure. (1) Upon receipt of a written request from 
the public, a member bank shall make available the names of each of its 
executive officers and each of its principal shareholders to whom, or to 
whose related interests, any correspondent bank of the member bank had 
outstanding, at any time during the previous calendar year, an extension 
of credit that, when aggregated with all other outstanding extensions of 
credit at such time from all correspondent banks of the member bank to 
such person and to all related interests of such person, equaled or 
exceeded 5 percent of the member bank's capital and unimpaired surplus 
or $500,000, whichever amount is less. No disclosure under this 
paragraph is required if the aggregate amount of all extensions of 
credit outstanding from all correspondent banks of the member bank to 
the executive officer or principal shareholder of the member bank and to 
all related interests of such a person does not exceed $25,000 at any 
time during the previous calendar year.
    (2) A member bank is not required to disclose the specific amounts 
of individual extensions of credit.
    (b) Maintaining records. Each member bank shall maintain records of 
all requests for the information described in paragraph (a) of this 
section and the disposition of such requests. These records may be 
disposed of after two years from the date of the request.

[48 FR 56936, Dec. 27, 1983]