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Subject: Lending Limits
Date: March 24, 2008
To: Chief Executive Officers of All National Banks, Federal Branches and Agencies, Department and Division Heads, and All Examining Personnel
Description: Interim Final Rule
The attached interim final rule with request for comment, which was published in the Federal Register and effective on March 20, 2008, will enable the Office of the Comptroller of the Currency (OCC) to approve exceptions from the national bank lending limit for specific transactions that provide essential funding in emergency situations. Such approvals will be granted only when the OCC determines that the specific transactions will be of short duration, will be reduced in amount in a time frame and manner acceptable to the OCC, and will not present unacceptable risk to the lending national bank. The OCC has the ability to impose supervisory and reporting conditions on these approvals.
The comment period for this interim final rule ends on April 21, 2008.
For questions concerning this interim final rule, contact Patrick T. Tierney, Senior Attorney, Legislative and Regulatory Activities Division at (202) 874-5090.
Julie L. Williams