Regulatory Alerts2019-01-31 | 2018-28038Added
Thresholds Increase for the Major Assets Prohibition of the Depository Institution Management Interlocks Act Rules
The OCC, the Board of Governors of the Federal Reserve System, and the FDIC propose to raise the major assets prohibition thresholds for management interlocks under the Depository Institution Management Interlocks Act from $2.5 billion and $1.5 billion to $10 billion. This change would relieve depository organizations with total assets below the new $10 billion limit from the requirement to seek an exemption from the prohibition on serving as a management official of an unaffiliated depository organization. The agencies also propose three alternative approaches for adjusting these thresholds based on market changes or inflation.
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