Effective Date: Temporary Reg. O relief for certain extensions of credit to fund complex-controlled portfolio companies

...Therefore, while the federal banking agencies consider whether to amend Regulation O to address these issues, the federal banking agencies would not take action against banks or principal shareholder fund complexes with respect to extensions of credit by the banks to fund complex-controlled portfolio companies that otherwise would violate Regulation O, provided the fund complexes and banks satisfy the foregoing criteria. 7 The relief provided herein covers extensions of credit to fund complex-controlled portfolio companies only, and does not extend to any extension of credit to principal shareholder fund complexes. This no-action relief will apply until January 1, 2021, unless amended, extended, or superseded in writing prior to that time. Read more here. 

• December 27, 2019
• Time: All Day