Regulatory Alerts2011-11-10
Added · Updated
State Banking Board: Legal lending limit parity exemption for loans secured by U. S. Government obligations
The North Dakota State Banking Board issued an order adopting an exception to the state's legal lending limits for loans secured by U.S. obligations. This exemption aligns state-chartered bank lending authority with federal regulations under 12 C.F.R. 32.3(c)(3) to ensure parity with federally chartered banks. The order specifies that the authorization for state banks cannot exceed the limits provided to federal banks under the cited federal code.