Credit Classification definition
Examples of Credit Classification in a sentence
At a minimum, with respect to all loans, leases, or other extensions of credit not subject to the Revised Uniform Retail Credit Classification and Account Management Policy (OCC Bulletin 2000-20), the program shall require the Bank to obtain and analyze current and satisfactory credit information, maintain proper collateral documentation, and, where necessary, substantiate the current value of collateral, on an ongoing basis as needed to effectuate the purposes of the program listed above.
Fingerhut Direct Marketing is not a financial institution, but voluntarily complies with the Uniform Retail Credit Classification and Account Management Policy as promulgated by the FFIEC (Federal Financial Institutions Examination Council) as related to practices such as account aging, delinquency and charge-off status.
Credit Classification: Activity: 12 Services, Class: 05 Credit Restructuring, Subclass: 12503 Operation Liabilities cancellation to third parties, Use of Resources: Transfer.
At a minimum, with respect to all loans, leases, or other extensions of credit not subject to the FFIEC Uniform Retail Credit Classification and Account Management Policy (OCC Bulletin 2000-20), the program shall require the Bank to obtain and analyze current and satisfactory credit information, maintain proper collateral documentation, and, where necessary, substantiate the current value of collateral, on an ongoing basis as needed to effectuate the purposes of the program listed above.
The rescission of these documents replaces them with the OCC’s conveyances of the FFIEC’s Uniform Retail Credit Classification and Account Management Policy which were distributed in OCC Bulletin 2000-20 and the “Rating Credit Risk” booklet of the Comptroller’s Handbook, respectively.
The Independent Reviewer shall use a loan and lease grading system consistent with the guidelines set forth in “Rating Credit Risk” and “Allowance for Loan and Lease Losses” booklets of the Comptroller’s Handbook as well as OCC Bulletin 2000-20“Uniform Retail Credit Classification and Account Management Policy.” The system shall provide for a written report to be filed with the Board after each review.
Bank of York shall maintain its allowance for loan and lease losses in accordance with GAAP and RAP in a manner consistent with its existing methodology and in compliance with the Call Report Instructions and the Uniform Retail Credit Classification and Account Management Policy in an amount adequate in all material respects to provide for all losses, net of recoveries relating to loans previously charged off, on all outstanding loans of Bank of York.
Mainland Bank shall maintain its allowance for loan and lease losses in accordance with GAAP and RAP in a manner consistent with its existing methodology and in compliance with the Call Report Instructions and the Uniform Retail Credit Classification and Account Management Policy in an amount adequate in all material respects to provide for all losses, net of recoveries relating to loans previously charged off, on all outstanding loans of Mainland Bank.