INTERLOCKING BANK DIRECTORATES UNDER THE CLAYTON ACT 
2—No person who is a director in a state bank or trust company having resources 
aggregating more than $5,000,000, or who is a private banker having re- 
sources aggregating more than $5,000,000, can legally serve at the same time 
as director of any national bank or Edge Corporation, regardless of its 
location. 
3—No person can legally be a director, officer, or employee of a national bank 
or Edge Corporation located in a city of more than 200,000 inhabitants 
who is at the same time a private banker in the same city or a director, 
officer, or employee of any other bank (state or national) located in the same 
city, regardless of the size of such bank. 
The eligibility of a director, officer, or employee under the foregoing 
provisions is determined by the average amount of deposits, capital, 
surplus, and undivided profits as shown in the official statements of 
such bank, banking association, or trust company filed as provided by 
law during the fiscal year next preceding the date set for the annual 
election of directors, and when a director, officer, or employee has been 
elected or selected in accordance with the provisions of the Clayton 
Act it is lawful for him to continue as such for one year thereafter 
under said election or employment. 
When any person elected or chosen as a director, officer, or em- 
ployee of any bank is eligible at the time of his election or selection to 
act for such bank in such capacity his eligibility to act in such capacity 
is not affected by reason of any change in the affairs of such bank 
from whatsoever cause, until the expiration of one year from the date 
of his election or employment. 
Exceptions: 
1—The provisions of the Clayton Act do not apply to mutual savings banks not 
having a capital stock represented by shares. 
2—Do not prohibit a person from being at the same time a director, officer, or 
employee of a national bank or Edge Corporation and not more than one 
other national bank, Edge Corporation, State bank, or trust company, where 
the entire capital stock of one is owned by the stockholders of the other. 
3—Do not prohibit a person from being at the same time a class A director of a 
Federal Reserve Bank and also an officer or director, or both an officer and a 
director, in one member bank. 
t—Do not prohibit a person who is serving as director, officer or employee of a 
national bank, or Edge Corporation, even though it has resources aggrega- 
ting over $5,000,000, from serving at the same time as director, officer or 
employee of any number of state banks and trust companies, provided such 
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