WAC 208-512A-200. Computation of time — Calculation date of lending limits

(1) For purposes of determining compliance with RCW 30A.04.111 and this chapter, a bank shall determine its lending limit as of the most recent of the following dates: (a) The last day of the preceding calendar quarter; or (b) The date on which there is a change in the bank's capital category for purposes of the Federal Deposit Insurance Act, at 12 U.S.C. 1831o (b)(1). (2) A bank's lending limit calculated in accordance with subsection (1)(a) of this section will be effective as of the earlier of the following dates: (a) The date on which the bank's call report is submitted; or (b) The date on which the bank's call report is required to be submitted. (3) A bank's lending limit calculated in accordance with subsection (1)(b) of this section will be effective on the date that the limit is to be calculated. (4) If the division determines for safety and soundness reasons that a bank should calculate its lending limit more frequently than required by subsection (1) of this section, the division may provide written notice to the bank directing it to calculate its lending limit at a more frequent interval, and the bank shall thereafter calculate its lending limit at that interval until further notice.