A final rule was released late Thursday by the Office of the Comptroller of the Currency extending the deadline for banks to comply with a requirement that limits credit exposure per customer.
The effective date has now been extended from July 1 to Oct. 1.
Under the 2010 Dodd-Frank reform law, banks are limited in how much they can lend to an individual at one time. In the OCC's final rule, the limits must include derivative and securities financing transactions in their calculation.
For the full piece see "OCC Finalizes Lending Limit Rule, Extends Deadline" (may require subscription).