Summary of Text and Changes to Section 333.1 of the Superintendent's Regulations
April 8, 2002
TO THE INDIVIDUAL OR INSTITUTION ADDRESSED:
RE: Final Adoption of Amendment to Part 333 of The Superintendents Regulations to Include the London Interbank Offered Rate Index.
On January 22, 2002, the Superintendent adopted as final the attached amendment of Part 333.1 of the Superintendents Regulations. The amendment became effective upon its publication in the State Register on February 20, 2002.
Part 333.1 is amended to add LIBOR to the list of indices approved by the Superintendent for use by banking institutions which are making variable rate closed-end personal loans pursuant to the provisions of Part 33 of the General Regulations of the Banking Board or for use by banking institutions which establish variable rate open-end accounts pursuant to Part 90 of the General Regulations of the Banking Board.
Very truly yours,
Christine M. Tomczak
Secretary to the Banking Board