WASHINGTON — The Office of the Comptroller of the Currency released a final rule late Thursday that extends the deadline for banks to comply with a requirement that limits credit exposure per customer.

Banks are limited in how much they can lend to an individual at one time. Under the Dodd-Frank Act, those limits must now include derivative and securities financing transactions in their calculation.

In its finalized rulemaking, the OCC mostly left a proposal last year intact, but extended the effective date to Oct. 1 from July 1.

Under the rule, total loans and extensions of credit to a person at one time cannot exceed 15% of the bank's unimpaired capital and surplus if the credit is not fully secured. If the credit is secured, it's 25% of the bank's unimpaired capital and surplus. Credit exposures from derivatives deals, repurchase agreements, reverse repurchase agreements and securities financing transactions are also now included in that limit.

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