This is my first time doing the annual required Reg O paperwork and I have a question about section 215.4(e). We currently offer an Overdraft Protection Line of Credit that is a deposit product directly tied to 1 specific checking account. We also offer a standard revolving line of credit that is a loan product and can be used to sweep to several deposit accounts. Is there any guidance on which of these should be used to cover Reg O overdrafts? Also, our current form has that the line is payable on demand 1 year from origination, but I can't find anything relating to this in the reg. Any guidance/input/opinions?? Thanks a bunch!!

One other question I have is regarding a form that we usually get signed stating that the director owns 200 unencumbered shares of bank stock. Does anyone know if this is in the FDIC reg or something from the bank? I can't find it in the reg and no one at the bank is sure.
Thanks!

How can you have a 'deposit product' that is a 'line of credit'? Isn't that an oxymoron?

I guess it is & I've never understood it, but it's loaded on the deposit side and the line amount is included in the available balance but interest is charged on the amount used and payments are made just like on a loan.