Federal Reserve Board announces it will extend, until November 4, the comment period on its proposal to modernize Regulation O

The Federal Reserve Board announced Friday that it will extend, until November 4, the comment period on its proposal to modernize Regulation O, its rule governing the extension of credit by a bank to its "insiders"—bank executives, board members and major shareholders who could potentially influence a bank's lending decisions. The Board extended the comment period to allow interested parties more time to analyze the issues and prepare their comments.

Comments on the proposal were originally due by October 5.