# Loans to Executive Officers, Directors, and Principal Shareholders of Member Banks; Regulation O
> **US Federal Reserve System** · Interim final rule with request for comments. · Published 2020-07-16 · Effective 2020-07-16 · 85 FR 43119
## Document
- **Document number:** 2020-15367
- **Category:** final-rule
- **Agency:** US Federal Reserve System
- **Federal Register citation:** 85 FR 43119
- **CFR reference:** 12 CFR 215
- **Publication date:** 2020-07-16
- **Effective date:** 2020-07-16
- **Docket:** Docket No. R-1722 and RIN 7100-AF93
## Abstract

On April 17, 2020, the Board issued an interim final rule to except certain loans made by June 30, 2020, that are guaranteed under the Small Business Administration's Paycheck Protection Program from the requirements of the Federal Reserve Act and the corresponding provisions of the Board's Regulation O. The Board is issuing this interim final rule to expand the exception to apply to PPP loans made through August 8, 2020.

## Source
- [Federal Register document](https://www.federalregister.gov/documents/2020/07/16/2020-15367/loans-to-executive-officers-directors-and-principal-shareholders-of-member-banks-regulation-o)
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