MS HB912

Amends Section 81-5-77 of the Mississippi Code to require that loan limits to a single borrower consider credit exposure from derivative transactions between the bank and the party.

Defines "derivative transaction" to include contracts, agreements, swaps, warrants, notes, or options based on commodities, securities, currencies, interest rates, indices, or other assets.

Maintains the existing 20% limit on loans and extensions of credit relative to a bank's aggregate unimpaired capital and unimpaired surplus, with specified exceptions for secured loans and government-backed obligations.

Holds bank officers and directors individually liable for the full principal and interest of loans made in violation of the section, with the Commissioner of Banking and Consumer Finance authorized to enforce penalties.

Exempts loans or extensions of credit to the State of Mississippi, its political subdivisions, and levee districts from the lending limitations.