| Notice Filed with SOS |
05/19/2023 |
| Rule |
ProposedRuleAttach2023-00279.pdf |
| Additional Information |
AddInfoAttach2023-00279.pdf |
| Statutory Authority |
The statutory basis for Banking Board Rule 3 CCR 701-1 CB101.64 is found in Section 11-102-104(5),
and Sections 11-105-302, 303, 304, and 305 of the Colorado Revised Statutes.
11-101-102. Declaration of policy.
11-102-104. Powers and duties of the banking board.
11-105-302. Loans, acceptances, investments, and letters of credit.
11-105-303. Corporate powers - interest and charges.
11-105-304. Bank investments - customers’ orders.
11-105-305. Acceptances - letters of credit. |
| Description of Subjects/Issues |
The purpose of this rule is to provide definitions and establish limits pertaining to lending.
The purpose of this rulemaking is to amend Rule 3 CCR 701-1 CB101.64.
The Colorado Division of Banking finds that the proposed amendments to this rule are necessary as
follows:
● To better align lending limits with federal lending limits, incorporate by reference the following
code of federal regulation:
o Code of Federal Regulations Title 12 - Banks and Banking Chapter I - Comptroller of the
Currency, Department of the Treasury Part 32 Lending Limits.
● Reduce Special Lending Authority from 250 percent of capital to 100 percent of capital due to the
incorporation by reference; however, all Special Lending Authority approvals granted prior to the
effective date of this Rulemaking will remain in effect unless and until terminated. |
| Purpose/Objective of Rule |
The purpose of this rule is to provide definitions and establish limits pertaining to lending. |
| Basis And Purpose |
BasisAndPurposeAttachment2023-00279.pdf
|
| Submitted in response to issues raised by COLS/OLLS? |
No
|
| Is this rule adopted in response to recent legislation? |
No
|
| Hearing Date |
07/20/2023 |
| Hearing Time |
10:00 AM |
| Hearing Location |
1560 Broadway, Suite 100D, Denver, Colorado |
| Contact Name |
Charles Siler |
| Contact Title |
Banking Board Administrator |
| Contact Telephone |
3038947584 |
| Contact email |
charles.siler@state.co.us |