12 CFR 215.8 – Records of member banks
(a) In general. Each member bank shall maintain records necessary for compliance with the requirements of this part.
(b) Recordkeeping for insiders of the member bank. Any recordkeeping method adopted by a member bank shall:
(1) Identify, through an annual survey, all insiders of the bank itself; and
(2) Maintain records of all extensions of credit to insiders of the bank itself, including the amount and terms of each such extension of credit.
(c) Recordkeeping for insiders of the member bank’s affiliates. Any recordkeeping method adopted by a member bank shall maintain records of extensions of credit to insiders of the member bank’s affiliates by:
(1) Survey method. (i) Identifying, through an annual survey, each insider of the member bank’s affiliates; and
(ii) Maintaining records of the amount and terms of each extension of credit by the member bank to such insiders; or
(2) Borrower inquiry method. (i) Requiring as part of each extension of credit that the borrower indicate whether the borrower is an insider of an affiliate of the member bank; and
(ii) Maintaining records that identify the amount and terms of each extension of credit by the member bank to borrowers so identifying themselves.
(3) Alternative recordkeeping methods for insiders of affiliates. A member bank may employ a recordkeeping method other than those identified in paragraphs (c)(1) and (c)(2) of this section if the appropriate Federal banking agency determines that the bank’s method is at least as effective as the identified methods.
(d) Special rule for non-commercial lenders. A member bank that is prohibited by law or by an express resolution of the board of directors of the bank from making an extension of credit to any company or other entity that is covered by this part as a company is not required to maintain any records of the related interests of the insiders of the bank or its affiliates or to inquire of borrowers whether they are related interests of the insiders of the bank or its affiliates.