Asset Classification. Within sixty (60) days after the Effective Date hereof, the Board shall adopt, and the Bank shall implement, a revised formal written program to identify and classify problem assets that satisfies the requirements of: (A) 12 C.F.R. Section 560.160; (B) section II.G. of the Part 570 Safety and Soundness Standards; and (C) the Interagency Policy Statement on the Allowance for Loan and Lease Losses Methodologies and Documentation for Banks and Savings Institutions, dated July 2, 2001 (66 Fed. Reg. 35629, published on July 6, 2001).
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Sources: Supervisory Agreement (First Keystone Financial Inc)
Asset Classification. Within sixty (60) days after of the Effective Date hereof, the Board shall adopt, and the Bank shall implement, a revised formal written program to identify and classify problem assets that satisfies the requirements of: (Ai) 12 C.F.R. Section 560.160; (Bii) section II.G. of the Part 570 Safety and Soundness Standards; and the (Ciii) the Interagency Policy Statement on the Allowance for Loan and Lease Losses Methodologies and Documentation for Banks and Savings Institutions, dated July 2, 2001 (66 Fed. Reg. 35629, published on July 6, 2001).
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