Office of the Comptroller of the Currency June 7, 2007 – Federal Register Recent Federal Regulation Documents

The Office of the Comptroller of the Currency (OCC) is amending Part 32 to permanently incorporate special lending limits for 1-4 family residential real estate loans, small business loans, and small farm loans or extensions of credit. These special lending limits have, since 2001, been available to certain eligible national banks through a lending limits pilot program (pilot program). Under the pilot program, an eligible national bank with a main office located in a state that has a lending limit for residential real estate, small business, or small farm loans that is higher than the current Federal limit may apply to take part in the pilot program and make use of the higher limit. The OCC has found that banks in the pilot program, and loans made under the program, have operated in a safe and sound manner since 2001. Accordingly, this interim rule amends Part 32 to make permanent the special limits set forth in the pilot program. This interim rule removes the expiration date for the pilot program and makes one change to the special lending limits available under the pilot program. The OCC also seeks comment on any other changes that should be considered for the final rule. As in the past, only eligible banks can use the special limits. Those banks already approved to participate in the pilot program may continue to use the special lending limits and need not submit a new application to do so.