(a) Community. A management official of a depository organization may not serve
at the same time as a management official of an unaffiliated depository
organization if the depository organizations in question (or a depository
institution affiliate thereof) have offices in the same community.
(b) RMSA. A management official
of a depository organization may not serve at the same time as a management
official of an unaffiliated depository organization if the depository
organizations in question (or a depository institution affiliate thereof)
have offices in the same RMSA and, in the case of depository institutions,
each depository organization has total assets of $50 million or more.
(c) Major assets. A management
official of a depository organization with total assets exceeding
$10 billion (or any affiliate of such an organization) may not serve
at the same time as a management official of an unaffiliated depository
organization with total assets exceeding $10 billion (or any affiliate
of such an organization), regardless of the location of the two depository
organizations. The Board will adjust these thresholds, as necessary,
based on the year-to-year change in the average of the Consumer Price
Index for the Urban Wage Earners and Clerical Workers, not seasonally
adjusted, with rounding to the nearest $100 million. The Board will
announce the revised thresholds by publishing a final rule without
notice and comment in the Federal Register.
