§3905 Accounting for fees on international loans

Summary

Banks must not charge a restructuring fee on an international loan that is higher than the actual cost to handle the restructuring unless the bank spreads the extra fee out over the loan’s effective life. Federal banking agencies must make rules to enforce this, starting November 30, 1983. They must also make rules about how banks account for fees (for example, agency, commitment, and management fees) so those fees are recorded as income over the loan’s life, and they must issue those rules within 120 days after November 30, 1983.