Regulation O Policy Update

Regulation O Policy Template Update - 05/17/06

Bankpolicies.com is proud to announce the immediate availability of our revised Regulation O Policy Template product.

The revision to this product is in response to the OCC Press Release that announced the availability of "Insiders Handbook" issued on March 20, 2006. This booklet provides guidance on how banks may legally and prudently engage in transactions with insiders and implement risk management processes that provide for the appropriate control and monitoring of insider activities.

http://www.occ.treas.gov/handbook/insider.pdf

What's New

The following new topics were added based upon handbook guidance:

Topic 5 - Board of Directors and Senior Management Responsibilities.

Topic 6 - Risk Management.

Topic 7 - Duty of Care and Duty of Loyalty.

Topic 8 - Compensation and Benefits Paid to Insiders.

Topic 21 - Audit Policy.

Topic 22 - Staff Training.

What's Revised

Topic 2 - Policy Statement. The "General" subtopic was revised to include a policy statement specifically identifying a financial institution's safe and sound business and personal transactions with its insiders in addition to a Regulation O statement. In addition, the subtopic "Key Elements" was added to provide detailed information regarding the key elements of a financial institution's policy adherence to federal regulations.

Topic 3 - Definitions. Formally a subtopic of the "Regulation O Requirements/Background", we felt it was in the best interest of our clients to make this an individual topic for reference purposes.

Topic 4 - Regulation O and Related Laws and Regulations. Formally entitled "Regulation O Requirements/Background", the following subtopics were added:

12 USC 375

12 USC 375a

12 USC 375b

Individual Insiders

All Insiders

12 USC 376

12 USC 1972(2)

Topic 18 - Reporting Requirements. The "General" subtopic was expanded to include additional reporting guidance related to a financial institution's Call Report and SEC reports.

Product Contents

Purpose and Contents - Topic 1
Policy Statement - Topic 2

Definitions - Topic 3

Regulation O and Related Laws and Regulations - Topic 4

Board of Directors and Senior Management Responsibilities - Topic 5

Risk Management - Topic 6

Duty of Care and Duty of Loyalty - Topic 7

Compensation and Benefits Paid to Insiders - Topic 8

Extension of Credit - Topic 9

Lending Limits - Topic 10

Board Approval of Insider Loans - Topic 11

Unauthorized Extension of Credit - Topic 12

Preferential Treatment - Topic 13

Reports by Executive Officers - Topic 14

Overdrafts - Topic 15

Reporting Requirement for Credit Secured by Bank Stock - Topic 16

Correspondent Bank Provisions - Topic 17

Reporting Requirements - Topic 18

Public Disclosure - Topic 19

Civil Penalties - Topic 20

Audit Policy - Topic 21

Staff Training - Topic 22

Record Retention - Topic 23

Ordering Information

This revised product is available to purchase from Bankpolicies.com for:

$175.00 - List Price

- or -

$75.00 - Update Price (applies only to clients who have previously purchased our Regulation O Policy Template product.

If you have ordered this product after 04/17/06 you are eligible to receive the Product Update at no charge.

Click here to place an order for this product. Clients who are eligible for our Legacy Rewards Volume Discount can apply their applicable discount level to the list or update price (whichever applies).

NOTE: Refer to our Place an Order page for important information regarding payment terms and our return policy. Orders placed for Product Updates are only available directly through Bankpolicies.com.