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Inactive Financial Institution Letters 

Reporting Requirements

FIL-119-97
November 19, 1997

 

TO: CHIEF EXECUTIVE OFFICER
SUBJECT: Required Reports of Indebtedness by Executive Officers and Principal Shareholders

The attached form FFIEC 004 may be used for complying with the reporting requirements of Title VIII of the Financial Institutions Regulatory and Interest Rate Control Act of 1978 for calendar year 1997. The Act requires each bank's executive officers and principal shareholders to submit an annual report to their board of Directors on their indebtedness, and that of their related interests, to correspondent banks.

The use of form FFIEC 004 is optional in meeting Title VIII reporting requirements. The information requested on this form may be submitted to an insured institution's board of Directors on any form containing identical information, including the earlier version of form FFIEC 004. Form FFIEC 004 is designed to assist a bank's executive officers and principal shareholders in meeting this reporting requirement.

In addition, Part 349 of the FDIC's rules and regulations requires a bank to disclose to the public, upon request, the names of its executive officers and principal shareholders who have indebtedness to their own bank, or to correspondent banks, that exceeds a specified amount. Form FFIEC 004 contains the information to be used to make these disclosures on indebtedness to correspondent banks.

Detailed instructions for preparing form FFIEC 004 are included on the back of the form. The reports should be retained by your bank and not forwarded to the FDIC. Any questions should be directed to your FDIC Division of Supervision regional office.


Nicholas J. Ketcha Jr.
Director

Attachment: Form FFIEC 004 (not available in electronic format - contact the FDIC Public Information Center as noted below.)

Distribution: FDIC-Supervised Banks (Commercial and Savings)

NOTE: Paper copies of FDIC financial institution letters may be obtained through the FDIC's Public Information Center, 801 17th Street, N.W., Room 100, Washington, D.C. 20434 (800-276-6003 or (703) 562-2200). FDIC FILs and Press Releases also available from the FDIC web site: /banknews

Last Updated 07/16/1999 communications@fdic.gov