The Federal Reserve Board said it will extend, until November 4, the comment period on its proposal to modernize Regulation O.
The announcement was released by the Board of Governors of the Federal Reserve System. Regulation O governs extensions of credit by banks to their executive officers, directors and principal shareholders.
The extension gives the public additional time to submit comments on the proposal. The Board did not state a reason for the extension or detail the contents of the proposal in the announcement.
The original announcement of the proposal was issued under the Board's banking regulation press releases.