Reg O

Front 1

Affiliate under Reg O

Back 1

Any company of which member bank is subsidiary, or any other subsidiary of that company

Front 2

Definitions of control

Back 2

1) same as bank act for group of people

25% vote power

Control election of majority of directors

Controlling influence over policy/ mgmt

2) single executive or director who has 10%+ voting power

Or an individual with 10%+ voting power and no one else has greater percentage

Front 3

Advisory director is not a director when

Back 3

Not elected

No voting power

Provides only general policy advice

Front 4

Executive officer is

Back 4

Anyone who participates in major policymaking functions of the bank, regardless of title

Front 5

Officers of affiliates are not subject to reg o when

Back 5

1) excluded from policymaking by board resolution

2) affiliate doesn't control the bank

3) as determined annually, affiliate isn't more than 10% of assets of company the controls the bank and is not controlled by any other company

Front 6

Reg O lending limits

Back 6

15% of unimproved capital and surplus, per insider not fully secured

25% for fully secured by readily marketable collateral

Total extensions exceed $500k to a single person

Front 7

When is prior approval required for insider loans

Back 7

When aggregate extensions exceed the higher of $25k or 5% of capital and surplus

Note: board majority required with interested party abstention

Front 8

When can a bank exceed Reg O limits

Back 8

If deposits less than $100M, can increase to 2X capital and surplus with annual Board resolution

Front 9

Director/officer overdrafts not allowed unless

Back 9

1) written pre-authorozed interest-bearing extension of credit plan

2) written reauthorization transfer of funds from another account

Front 10

Overdraft prohibitions don't apply when

Back 10

1) inadvertent and less than $1k

2) if less than 5 business days and

3) bank charges same overdraft fee as it would customers