Options Clearing Tweaks Revolving Credit Rules in Boring Filing
Published Date: 8/18/2026
Notice
Summary
No summary available.
Analyzed Economic Effects
2 provisions identified: 2 benefits, 0 costs, 0 mixed.
Faster Replacement of Credit Agent
OCC proposes to remove the rule that requires it to file an advance notice before replacing the lead or backup administrative agent for its 364-day revolving credit facility. This would let OCC change the lead or backup agent more quickly (OCC renews the Facility annually in June and typically identifies the lead agent by March) and OCC says that change would reduce OCC's liquidity risk and help protect the broader financial system.
Updated Facility Size and Flexibility
OCC's Revolving Credit Facility is described as $2.5 billion in aggregate principal with the ability to increase to $3.5 billion if OCC requests and sufficient lender commitments are received. OCC proposes evergreen language allowing it to increase or decrease commitment amounts by up to $500 million without an advance notice (and any decrease in the initial commitment must be replaced by other qualifying liquid resources).
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