02-029 C.M.R. ch. 128, § 5 - CALCULATION DATE OF LENDING LIMITS
1.
Calculation date. For purposes of determining compliance with this
regulation, a financial institution shall determine its lending limit on the
last day of the preceding calendar quarter, unless otherwise directed by the
Superintendent.
2.
Effective
date. A financial institution's lending limit calculated in accordance
with subsection (1) of this section will be effective as of the earlier of the
date on which the financial institution's Consolidated Reports of Condition and
Income (Call Report) is submitted or the date the Call Report is required to be
submitted.
Notes
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1. Calculation date. For purposes of determining compliance with this regulation, a financial institution shall determine its lending limit on the last day of the preceding calendar quarter, unless otherwise directed by the Superintendent.
2. Effective date. A financial institution's lending limit calculated in accordance with subsection (1) of this section will be effective as of the earlier of the date on which the financial institution's Consolidated Reports of Condition and Income (Call Report) is submitted or the date the Call Report is required to be submitted.