OCC Issues Final Rule On Counterparty Lending Limits

Law360, Washington (June 21, 2013, 4:44 PM EDT) -- The Office of the Comptroller of the Currency finalized a Dodd-Frank rule on Thursday that limits the size of loans banks can have with a single counterparty, but agreed to hold off implementing the rule until Oct. 1.

While OCC initially planned to enforce the loan limit rules starting July 1, it noted that national banks and savings associations had requested additional time to come into compliance. The rule requires banks and savings associations to cut down on their exposures to single counterparties in some derivative...
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