The Office of the Comptroller of the Currency is extending the compliance date for the application of its lending limits rule to certain credit exposers arising from derivatives and securities financing transactions.
The OCC initially said banks would be expected to comply with certain Dodd-Frank mandated changes by Jan. 1. The agency later announced plans to set an April compliance date. However, a final rule released on Dec. 31 established an even longer compliance period. Read on to learn about the new compliance date.