Governed by the Depository Institutions Management Interlocks Act

The regulations of all of the federal banking agencies are virtually identical on the subject of management official interlocks

Generally prohibit a management official from serving two nonaffiliated depository institutions, depository institution holding companies, or any combination thereof, in situations where the management interlock would likely have an anticompetitive effect

• Exception for small market share banks

• Case-by-case exception for certain banks in the Board finds that there would not be created thereby a monopoly or lessening of competition
• Reputable presumption of no monopoly for bank if it

• Serves low and moderate income areas
• Controlled or managed by minorities or women
• Has been chartered for less than 3 years
• Is deemed to be in "troubled condition"

Federal Reserve Board Small Entity Compliance Guide

Interim amendment to implement the statutory provision raising the asset-size threshold for the small-institution exception from $20 million to $50 million and to correct inaccurate cross-references eff 1.11.07

Management official interlocks
12 CFR Part 26 

• 26.2  Definitions
• 26.3  Prohibitions
• 26.4  Interlocking relationships permitted by statute
• 26.5  Small market share exemption
• 26.6  General exemption
• 26.7  Change in circumstances
• 26.8  Enforcement

Regulation L Management official interlocks
12 CFR Part 212 

• 212.1  Authority, purpose, and scope
• 212.2  Definitions
• 212.3  Prohibitions
• 212.4  Interlocking relationships permitted by statute
• 212.5  Small market share exemption
• 212.6  General exemption
• 212.7  Change in circumstances
• 212.8  Enforcement
• 212.9  Effect of Interlocks Act on Clayton Act

Management official interlocks
12 CFR Part 348 

• 348.1  Authority, purpose, and scope
• 348.2  Definitions
• 348.3  Prohibitions
• 348.4  Interlocking relationships permitted by statute
• 348.5  Small market share exemption
• 348.6  General exemption
• 348.7  Change in circumstances
• 348.8  Enforcement

Management official interlocks
12 CFR Part 563f 

• 563f.1  Authority, purpose, and scope
• 563f.2  Definitions
• 563f.3  Prohibitions
• 563f.4  Interlocking relationships permitted by statute
• 563f.5  Small market share exemption
• 563f.6  General exemption
• 563f.7  Change in circumstances
• 563f.8  Enforcement
• 563f.9  Interlocking relationships permitted pursuant to FDIA

Management official interlocks
12 CFR Part 711

• 711.1  Authority, purpose, and scope
• 711.2  Definitions
• 711.3  Prohibitions
• 711.4  Interlocking relationships permitted by statute
• 711.5  Small market share exemption
• 711.6  General exemption
• 711.7  Change in circumstances
• 711.8  Enforcement