OCC Expands Banks’ Lending Limit Rule to Include Swaps Exposures

The Office of the Comptroller of the Currency adopted an interim final rule to amend the lending limit for national banks under a Dodd-Frank Act requirement.

The rule revises the definition of loans to include derivative-transaction exposures, repurchase agreements and securities lending, the OCC said today in a statement announcing the final rule. Banks and savings associations have to comply by the end of the year, the agency said.

To contact the reporter on this story: Jesse Hamilton in Washington at jhamilton33@bloomberg.net.

To contact the editor responsible for this story: Maura Reynolds at mreynolds34@bloomberg.net.

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