Regulatory Alerts2013-02-01
Credit Exposures to Derivatives and Securities Financing Activities
The Pennsylvania Department of Banking and Securities requires state-chartered banks and savings associations to calculate credit exposures from derivatives and securities financing transactions in accordance with federal OCC regulations under 12 CFR § 32.9. This alignment with the Dodd-Frank Act mandates that institutions implement these calculation methods by April 1, 2013, to maintain their lending limits and authority to engage in such activities. Institutions must submit a descriptive letter regarding their transactions to the Bureau of Commercial Institutions by March 31, 2013, to facilitate regulatory examinations.
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