OCC Lending Limit Rules — The Harvard Law School Forum on Corporate Governance

Small business need-to-know, of-interest and takeaways of trickle down effects.

Excerpt:  On June 20, the Office of the Comptroller of the Currency (“OCC”) issued interim final rules (including both the interim final rule and the preamble, the “Lending Limit Release”) to implement Section 610 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”). Section 610 expands the statutory definition of “loans and extensions of credit” in the lending limit provisions of the National Bank Act [1] and Home Owners’ Loan Act [2] to include the credit exposure from repurchase and reverse repurchase transactions and securities lending and borrowing transactions (collectively, “securities financing transactions”) and derivative transactions. [3] The Lending Limit Release sets out the procedures and methodologies for calculating the credit exposure for these newly covered transactions

Read full article via OCC Lending Limit Rules — The Harvard Law School Forum on Corporate Governance and Financial Regulation.

Advertisements

Comments Off on OCC Lending Limit Rules — The Harvard Law School Forum on Corporate Governance

Filed under Leadership, Operations & Innovation, Small Business

Comments are closed.