WASHINGTON - The Office of Thrift Supervision changed its loans-to- one-borrower rule this week to bring requirements for thrifts in line with those for national banks.
The lending limits will stay the same. But thrifts will get a break on paperwork because the rule lets them figure their limits by using the same calculations they already make to determine capital adequacy.
The interim final rule took effect Tuesday, but the agency is accepting comments on the matter until April 27.
The Office of the Comptroller of the Currency simplified its lending limits rule recently, and the OTS action brings it in line with this other arm of the Treasury Department.
The OTS revised its definitions of "unimpaired capital and unimpaired surplus" to match those of the OCC so that national banks and thrifts would continue to have the same lending limits.