The Office of the Comptroller of the Currency (OCC) has issued a rule finalizing amendments to 12 CFR Part 32, which governs lending limits. The rule implements Dodd-Frank Section 610, which applies the lending limit statute to credit exposures arising from derivative transactions and securities financing transactions, and makes other changes.
Effective Dates: Under the rule, a temporary exception period is extended for three months so that compliance with the Section 610 provisions will not be required until October 1, 2013. The effective date of amendatory instruction 2b of this final rule is July 2.
See: Final Rule Release.