The US Federal Reserve has announced an extension of the comment period for its proposal to modernize Regulation O — the regulation governing the terms of lending to bank insiders, including directors, officers, and principal shareholders. The new deadline for submitting feedback has been set for November 4. Regulation O governs the rules for extending credit to insiders of banking organizations, establishing restrictions and transparency requirements for such transactions in order to prevent conflicts of interest and abuse. The modernization proposal aims to update the existing rules to reflect changes in banking practice and financial regulation. Extending the public comment period allows banks, experts, and other interested parties to more thoroughly examine the proposed changes and submit their comments and recommendations. The Federal Reserve regularly uses this mechanism to gather feedback before making final regulatory decisions, which helps ensure a more balanced approach to shaping banking legislation. Once the comment period concludes, the Fed's Board of Governors will review the feedback received and decide on next steps for modernizing the regulation, including possible adjustments to the original proposal.