The US Office of the Comptroller of the Currency (OCC) and the US Federal Deposit Insurance Corporation (FDIC) issued a joint statement clarifying supervisory expectations for OCC- and FDIC-supervised institutions on compliance with insider lending restrictions and related reporting requirements for certain types of related interests involving investment funds and their portfolio investments. The statement is effective immediately and applies to all FDIC-supervised financial institutions. The statement replaces the prior approach under which the OCC, FDIC and the Board of Governors of the Federal Reserve System (Board) issued a 2019 interagency statement on the application of Regulation O and the Part 363 reporting requirements, followed by one-year extensions each subsequent December. It will remain in effect unless amended, superseded or rescinded in writing, and it supersedes and rescinds FIL-85-2024. The agencies expect the statement will no longer be necessary if the Board adopts a final rule revising Regulation O to fully address how extensions of credit to fund complex-controlled portfolio companies that are insiders of a bank are treated.
Federal Deposit Insurance Corporation 2025-12-18
US Federal Deposit Insurance Corporation and US Office of the Comptroller of the Currency issue open-ended statement on insider lending treatment of certain investment funds
The US Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation issued a joint statement clarifying supervisory expectations for compliance with insider lending restrictions and related reporting requirements for OCC- and FDIC-supervised institutions. This statement replaces the 2019 interagency statement and will remain effective unless amended or rescinded. It may become unnecessary if the Federal Reserve Board adopts a final rule revising Regulation O.