Subject of Possible Rule Making: The Department of Financial Institutions is soliciting comment from interested parties regarding reforming the rules governing lending limits of state-chartered commercial banks (Title 30 RCW), including but not limited to eliminating renewals from the definition of "loans and extensions of credit" and liberalizing the provisions concerning WAC 208-512-290 (8)(h).

     Statutes Authorizing the Agency to Adopt Rules on this Subject: RCW 30.04.111.

     Reasons Why Rules on this Subject may be Needed and What They Might Accomplish: To modernize the state's lending limit regulation and to reduce unnecessary regulatory burden.

     Process for Developing New Rule: Consultation with interested parties.

     Interested parties can participate in the decision to adopt the new rule and formulation of the proposed rule before publication by contacting David G. Kroeger, Director of Banks, phone (360) 902-8747, fax (360) 753-6070; or Mike Abe, Program Manager, phone (360) 902-8729, fax (360) 753-6070.

October 2, 2001

John L. Bley

Director

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