• OCC Lending Limit Final Rule: OCC Issues Final Rule on Lending Limits and Makes Several Key Modifications
  • July 2, 2013
  • Law Firm: Sullivan Cromwell LLP - New York Office
  • On June 19, 2013, the Office of the Comptroller of the Currency (“OCC”) issued a final rule (the “Final Rule”) to implement Section 610 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”). Section 610 expanded the statutory definition of “loans and extensions of credit” in the lending limit provisions of the National Bank Act and Home Owners’ Loan Act to include the credit exposure arising from derivative transactions and securities financing transactions.