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Lending Limits

Abstract: Section 610 of the Dodd-Frank Act amends the lending limits statute, 12 U.S.C. section 84, to apply it to any credit exposure to a person arising from a derivative transaction and certain other transactions between the bank and the person. 12 U.S.C. 1464(u)(1) applies this lending limit to savings associations. The OCC issued an interim final rule on June 21, 2012, which consolidated the lending limits rules applicable to national banks and savings associations, removed the separate OCC regulation governing lending limits for savings associations, and implemented section 610 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, which amends the statutory definition of "loans and extensions of credit" to include certain credit exposures arising from derivative transactions, repurchase agreements, reverse repurchase agreements, securities lending transactions, and securities borrowing transactions. The interim final rule was finalized with revisions on June 19, 2013 and published in the Federal Register on June 25, 2013.
RIN: 1557-AD59
Type: Rule Making

Supporting Documents (2)