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Friday, August 16, 2013

OCC Issues Final Lending Limits Rule

The OCC has issued a final rule that amends the OCC’s rule governing lending limits. On June 21, 2012, the OCC published an interim final rule amending 12 CFR part 32 to implement section 610 of the Dodd–Frank Act

Dodd-Frank mandated revisions to the lending limits statute applicable to banks to include credit exposures arising from derivative transactions and repurchase agreements, reverse repurchase agreements, securities lending transactions, and securities borrowing transactions.

The final rule is effective October 1, 2013.

Read more.
Read the final rule.

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