OCC Extends Lending Limit Rule To Derivatives

Law360, New York (June 20, 2012, 1:28 PM EDT) -- National banks and savings associations will have to limit the size of some derivative transactions they can enter into with a single party under an expansion of lending limit rules finalized by the Office of the Comptroller of the Currency Wednesday.

The interim final rule gives banks until January to cut down on their exposures to single counterparties in some derivative transactions, as well as repurchase agreements, reverse repurchase agreements, securities lending transactions and securities borrowing transactions. While banks say that making loans is among the...
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