Modernize Bank and Trust Company Rules

Industry: 
Banks
Rulemaking Status: 
Open

Subject of Rulemaking

Propose and adopt rules amending Chapter 208-512 WAC to modernize Securities Investment Standards for state-chartered banks as required under Federal law, Section 939A of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act).

Propose and adopt rules amending Chapter 208-512A WAC derivative lending limit rules for Federal parity with the Office of Comptroller of the Currency as cited in 12 CFR Parts 32, 159 and 160.

Propose and adopt a technical clean-up, modernization, or repeal of certain outdated or inapplicable sections of Chapter 208-512 WAC and Chapter 208-512A WAC.

Amendments will be made to change citations from “Title 30” to “Title 30A” stemming from recodification of the Commercial Bank Act, 2014 c 37 § 1-701.