OCC Compliance Extension Final Rule

The Office of the Comptroller of the Currency (OCC) has issued a final rule that extends from January 1, 2013, to July 1, 2013, the temporary exception for the application of its lending limits rule, 12 CFR 32, to certain credit exposures arising from derivative transactions and securities financing transactions. Although the agency previously provided public notice of its intention to extend the exception to April 1, 2013, the OCC has since determined that it is more appropriate to extend the exception an additional three months to July 1. The agency expects to issue a final lending limits rule in the first quarter of 2013.

View Final Rule in full (OCC website).