The OCC issued an interim final rule amending its lending limit rule to include derivative and securities financing credit exposures. Under the Dodd-Frank Act, the agency was required to amend its rules by July 21, 2012. The rule applies to all national banks and state and federal savings institutions. Although the rule was issued as a final rule with an effective date of July 21, 2012, banks will have until Jan. 1, 2013 to comply.
The OCC is seeking comments on the interim final rule by August 6, 2012.