# Loans to Executive Officers, Directors, and Principal Shareholders of Member Banks
> **US Federal Reserve System** · Interim final rule with request for comment. · Published 2021-02-17 · Effective 2021-02-17 · 86 FR 9837
## Document
- **Document number:** 2021-02966
- **Category:** final-rule
- **Agency:** US Federal Reserve System
- **Federal Register citation:** 86 FR 9837
- **CFR reference:** 12 CFR 215
- **Publication date:** 2021-02-17
- **Effective date:** 2021-02-17
- **Docket:** Regulation O
## Abstract

On April 17 and July 15, 2020, the Board issued two interim final rules to except certain loans made through June 30 and August 8, 2020, respectively, that are guaranteed under the Small Business Administration's Paycheck Protection Program from the requirements of section 22(h) of the Federal Reserve Act and the Board's Regulation O. The Board is issuing this interim final rule to further extend this relief to PPP loans, including PPP second draw loans, made through March 31, 2021.

## Source
- [Federal Register document](https://www.federalregister.gov/documents/2021/02/17/2021-02966/loans-to-executive-officers-directors-and-principal-shareholders-of-member-banks)
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