12 CFR 160.170 - Records for lending transactions. | Title 12 - Banks and Banking | Code of Federal Regulations

§ 160.170

Records for lending transactions.

In establishing and maintaining its records pursuant to § 163.170 of this chapter, each Federal savings association and service corporation should establish and maintain loan documentation practices that:

(a) Ensure that the institution can make an informed lending decision and can assess risk on an ongoing basis;

(b) Identify the purpose and all sources of repayment for each loan, and assess the ability of the borrower(s) and any guarantor(s) to repay the indebtedness in a timely manner;

(c) Ensure that any claims against a borrower, guarantor, security holders, and collateral are legally enforceable;

(d) Demonstrate appropriate administration and monitoring of its loans; and

(e) Take into account the size and complexity of its loans.

Title 12 published on 2012-01-01

The following are only the Rules published in the Federal Register after the published date of Title 12.

For a complete list of all Rules, Proposed Rules, and Notices view the Rulemaking tab.

2012-06-21; vol. 77 # 120 - Thursday, June 21, 2012

77 FR 37265 - Lending Limits

GPO FDSys XML | Text

Additional Documents

type	regulations.gov
FR Doc.	2012-15004
RIN	1557-AD59
Docket No.	ID OCC-2012-0007

DEPARTMENT OF THE TREASURY, Office of the Comptroller of the Currency

Interim final rule and request for comments.

This interim final rule is effective on July 21, 2012, except that amendatory instruction 3a amending § 32.2 is effective January 1, 2013. Comments must be received by August 6, 2012.

12 CFR Parts 32, 159 and 160

Summary

The Office of the Comptroller of the Currency (OCC) is amending its regulation governing lending limits for national banks to consolidate the lending limit rules applicable to national banks and savings associations and remove its separate regulation governing lending limits for savings associations. The OCC also is amending its rules to implement section 610 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, which amends the statutory definition of “loans and extensions of credit” to include credit exposures arising from derivative transactions, repurchase agreements, reverse repurchase agreements, securities lending transactions and securities borrowing transactions. Pursuant to the OCC's authority in section 5200(d) of the Revised Statutes, the OCC is amending the lending limit rules to provide a temporary exception for the transactions covered by section 610 until January 1, 2013, in order to allow institutions a sufficient period to make adjustments to assure compliance with the new requirements.

2012-06-13; vol. 77 # 114 - Wednesday, June 13, 2012

77 FR 35253 - Alternatives to the Use of External Credit Ratings in the Regulations of the OCC

GPO FDSys XML | Text

Additional Documents

type	regulations.gov
FR Doc.	2012-14169
RIN	1557-AD36
Docket No.	ID OCC-2012-0005

DEPARTMENT OF THE TREASURY, Office of the Comptroller of the Currency

Final rule.

The final rule amending 12 CFR part 5 is effective on July 21, 2012. The final rules amending 12 CFR parts 1, 16, 28, and 160 are effective on January 1, 2013.

12 CFR Parts 1, 5, 16, 28, and 160

Summary

Section 939A of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) contains two directives to Federal agencies including the OCC. First, section 939A directs all Federal agencies to review, no later than one year after enactment, any regulation that requires the use of an assessment of creditworthiness of a security or money market instrument and any references to, or requirements in, such regulations regarding credit ratings. Second, the agencies are required to remove any references to, or requirements of reliance on, credit ratings and substitute such standard of creditworthiness as each agency determines is appropriate. The statute further provides that the agencies shall seek to establish, to the extent feasible, uniform standards of creditworthiness, taking into account the entities the agencies regulate and the purposes for which those entities would rely on such standards. On November 29, 2011, the OCC issued a notice of proposed rulemaking (NPRM), seeking comment on a proposal to revise its regulations pertaining to investment securities, securities offerings, and foreign bank capital equivalency deposits to replace references to credit ratings with alternative standards of creditworthiness. The OCC also proposed to amend its regulations pertaining to financial subsidiaries of national banks to better reflect the language of the underlying statute, as amended by section 939(d) of the Dodd-Frank Act. Today, the OCC is finalizing those rules as proposed.

77 FR 35259 - Guidance on Due Diligence Requirements in Determining Whether Securities Are Eligible for Investment

GPO FDSys XML | Text

Additional Documents

type	regulations.gov
FR Doc.	2012-14168
RIN	1557-AD36
Docket No.	ID OCC-2012-0006

DEPARTMENT OF THE TREASURY, Office of the Comptroller of the Currency

Final guidance.

This guidance is effective January 1, 2013.

12 CFR Parts 1 and 160

Summary

On November 29, 2011, the Office of the Comptroller of the Currency (OCC) proposed guidance to assist national banks and Federal savings associations in meeting due diligence requirements in assessing credit risk for portfolio investments. Today, the OCC is issuing final guidance that clarifies regulatory expectations with respect to investment purchase decisions and ongoing portfolio due diligence processes.

This is a list of United States Code sections, Statutes at Large, Public Laws, and Presidential Documents, which provide rulemaking authority for this CFR Part.

This list is taken from the Parallel Table of Authorities and Rules provided by GPO [Government Printing Office].

It is not guaranteed to be accurate or up-to-date, though we do refresh the database weekly. More limitations on accuracy are described at the GPO site.

United States Code

USC : Title 21 - FOOD AND DRUGS

§ 379e - Listing and certification of color additives for foods, drugs, devices, and cosmetics

Presidential Documents

Executive Order ... 12234

Title 12 published on 2012-01-01

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 12 CFR 160 after this date.

2012-06-21; vol. 77 # 120 - Thursday, June 21, 2012

77 FR 37265 - Lending Limits

GPO FDSys XML | Text

Additional Documents

type	regulations.gov
FR Doc.	2012-15004
RIN	1557-AD59
Docket No.	ID OCC-2012-0007

DEPARTMENT OF THE TREASURY, Office of the Comptroller of the Currency

Interim final rule and request for comments.

This interim final rule is effective on July 21, 2012, except that amendatory instruction 3a amending § 32.2 is effective January 1, 2013. Comments must be received by August 6, 2012.

12 CFR Parts 32, 159 and 160

Summary

The Office of the Comptroller of the Currency (OCC) is amending its regulation governing lending limits for national banks to consolidate the lending limit rules applicable to national banks and savings associations and remove its separate regulation governing lending limits for savings associations. The OCC also is amending its rules to implement section 610 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, which amends the statutory definition of “loans and extensions of credit” to include credit exposures arising from derivative transactions, repurchase agreements, reverse repurchase agreements, securities lending transactions and securities borrowing transactions. Pursuant to the OCC's authority in section 5200(d) of the Revised Statutes, the OCC is amending the lending limit rules to provide a temporary exception for the transactions covered by section 610 until January 1, 2013, in order to allow institutions a sufficient period to make adjustments to assure compliance with the new requirements.

2012-06-13; vol. 77 # 114 - Wednesday, June 13, 2012

77 FR 35253 - Alternatives to the Use of External Credit Ratings in the Regulations of the OCC

GPO FDSys XML | Text

Additional Documents

type	regulations.gov
FR Doc.	2012-14169
RIN	1557-AD36
Docket No.	ID OCC-2012-0005

DEPARTMENT OF THE TREASURY, Office of the Comptroller of the Currency

Final rule.

The final rule amending 12 CFR part 5 is effective on July 21, 2012. The final rules amending 12 CFR parts 1, 16, 28, and 160 are effective on January 1, 2013.

12 CFR Parts 1, 5, 16, 28, and 160

Summary

Section 939A of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) contains two directives to Federal agencies including the OCC. First, section 939A directs all Federal agencies to review, no later than one year after enactment, any regulation that requires the use of an assessment of creditworthiness of a security or money market instrument and any references to, or requirements in, such regulations regarding credit ratings. Second, the agencies are required to remove any references to, or requirements of reliance on, credit ratings and substitute such standard of creditworthiness as each agency determines is appropriate. The statute further provides that the agencies shall seek to establish, to the extent feasible, uniform standards of creditworthiness, taking into account the entities the agencies regulate and the purposes for which those entities would rely on such standards. On November 29, 2011, the OCC issued a notice of proposed rulemaking (NPRM), seeking comment on a proposal to revise its regulations pertaining to investment securities, securities offerings, and foreign bank capital equivalency deposits to replace references to credit ratings with alternative standards of creditworthiness. The OCC also proposed to amend its regulations pertaining to financial subsidiaries of national banks to better reflect the language of the underlying statute, as amended by section 939(d) of the Dodd-Frank Act. Today, the OCC is finalizing those rules as proposed.

77 FR 35259 - Guidance on Due Diligence Requirements in Determining Whether Securities Are Eligible for Investment

GPO FDSys XML | Text

Additional Documents

type	regulations.gov
FR Doc.	2012-14168
RIN	1557-AD36
Docket No.	ID OCC-2012-0006

DEPARTMENT OF THE TREASURY, Office of the Comptroller of the Currency

Final guidance.

This guidance is effective January 1, 2013.

12 CFR Parts 1 and 160

Summary

On November 29, 2011, the Office of the Comptroller of the Currency (OCC) proposed guidance to assist national banks and Federal savings associations in meeting due diligence requirements in assessing credit risk for portfolio investments. Today, the OCC is issuing final guidance that clarifies regulatory expectations with respect to investment purchase decisions and ongoing portfolio due diligence processes.

12 CFR 160.170 - Records for lending transactions.

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