OCC Issues Final Rule on Lending Limits

WASHINGTON — The Comptroller has signed a rule finalizing OCC amendments to 12 CFR part 32, which governs lending limits.  The rule implements section 610 of the Dodd Frank Wall Street Reform and Consumer Protection Act, which applies the lending limit statute to credit exposures arising from derivative transactions and securities financing transactions, and makes other changes.  Under the rule, which was signed June 19, a temporary exception period is extended for three months so that compliance with the Section 610 provisions will not be required until October 1.

Related Link

• Final Rule (PDF)