Common use of CONCENTRATIONS OF CREDIT Clause in Contracts

CONCENTRATIONS OF CREDIT. (1) Within sixty (60) days, the Board shall adopt, implement, and thereafter ensure Bank adherence to a written asset diversification program consistent with the “Concentrations of Credit” booklet of the Comptroller's Handbook. The program shall include, but not necessarily be limited to, the following: (a) a written analysis of any concentration of credit identified in order to identify and assess the inherent risk; and (b) an action plan approved by the Board to reduce the risk of any concentration deemed imprudent in the above analysis. (2) For purposes of this Article, a concentration of credit is as defined in the “Concentrations of Credit” booklet of the Comptroller's Handbook. (3) The Board shall ensure that future concentrations of credit are subjected to the analysis required by subparagraph (a) of paragraph (1) and, if that analysis demonstrates that the concentration subjects the Bank to undue risk, it takes appropriate steps to mitigate such risk. (4) The Board shall forward a copy of any analysis performed on existing or potential concentrations of credit to the Assistant Deputy Comptroller within seven days following the review. (5) The Board shall ensure that the Bank has processes, personnel, and control systems to ensure implementation of and adherence to the program developed pursuant to this Article.

CONCENTRATIONS OF CREDIT. (1) Within sixty one hundred eighty (60180) days, the Board shall adopt, implement, and thereafter ensure Bank adherence to a written an asset diversification program consistent with the “Concentrations of CreditLoan Portfolio Management” booklet of the Comptroller's Handbook. The program shall include, but not necessarily be limited to, the following: (a) a written analysis of any concentration of credit identified in order to identify and assess the inherent credit risk; and (b) an action plan approved by the Board to reduce the risk of any concentration deemed imprudent in the above analysis. (2) For purposes of this Article, a concentration of credit is as defined in the “Concentrations of CreditLoan Portfolio Management” booklet of the Comptroller's Handbook. (3) The Board shall ensure that future concentrations of credit are subjected to the analysis required by subparagraph (a) of paragraph (1) and, if that analysis demonstrates that the concentration subjects the Bank to undue risk, it takes appropriate steps to mitigate such risk. (4) The Board shall forward a copy of any analysis performed on existing or potential concentrations of credit to the Assistant Deputy Comptroller within seven days immediately following the review. (5) The Board shall ensure that the Bank has processes, personnel, and control systems to ensure implementation of and adherence to the program developed pursuant to this Article.

CONCENTRATIONS OF CREDIT. (1) Within sixty (60) days, the Board shall adopt, implement, and thereafter ensure Bank adherence to a written asset diversification program consistent with the “Concentrations of CreditLoan Portfolio Management” booklet of the Comptroller's Handbook. The program shall include, but not necessarily be limited to, the following: (a) a written analysis of any concentration of credit identified in order to identify and assess the inherent risk; and (b) an action plan approved by the Board to reduce the risk of any concentration deemed imprudent in the above analysis. (2) For purposes of this Article, a concentration of credit is as defined in the “Concentrations of CreditLoan Portfolio Management” booklet of the Comptroller's Handbook. (3) The Board shall ensure that future concentrations of credit are subjected to the analysis required by subparagraph (a) of paragraph (1) and, if that analysis demonstrates that the concentration subjects the Bank to undue risk, it takes appropriate steps to mitigate such risk. (4) The Board shall forward a copy of any analysis performed on existing or potential concentrations of credit to the Assistant Deputy Comptroller within seven days immediately following the review. (5) The Board shall ensure that the Bank has processes, personnel, and control systems to ensure implementation of and adherence to the program developed pursuant to this Article.

CONCENTRATIONS OF CREDIT. (1) Within sixty forty-five (6045) days, the Board shall adopt, implement, and thereafter ensure Bank adherence to a written asset diversification program consistent with the “Concentrations of CreditLoan Portfolio Management” booklet of the Comptroller's Handbook. The program shall include, but not necessarily be limited to, the following: (a) a written analysis of any concentration of credit identified in order to identify and assess the inherent credit risk; and (b) an action plan approved by the Board to reduce the risk of any concentration deemed imprudent in the above analysis. (2) For purposes of this Article, a concentration of credit is as defined in the “Concentrations of CreditLoan Portfolio Management” booklet of the Comptroller's Handbook. (3) The Board shall ensure that future concentrations of credit are subjected to the analysis required by subparagraph (a) of paragraph (1) and, if that analysis demonstrates that the concentration subjects the Bank to undue risk, it takes appropriate steps to mitigate such risk. (4) The Board shall forward a copy of any analysis performed on existing or potential concentrations of credit to the Assistant Deputy Comptroller within seven days immediately following the review. (5) The Board shall ensure that the Bank has processes, personnel, and control systems to ensure implementation of and adherence to the program developed pursuant to this Article.