INDEPENDENT LOAN REVIEW. (1) Within ninety (90) days, the Board shall establish, implement, and thereafter ensure Bank adherence to an effective, independent and on-going loan review program to review, at least semi-annually, the Bank’s loan and lease portfolios to assure the timely and accurate risk rating of credits and the identification of credit information, collateral documentation, and policy exceptions. The Bank’s program shall provide for a written report to be filed with the Board after each review. Such reports shall include, at a minimum, conclusions regarding:
INDEPENDENT LOAN REVIEW. (1) The Board shall within thirty (30) days employ or designate a sufficiently experienced and qualified person(s) or firm to ensure the timely and independent identification of problem loans and leases.
INDEPENDENT LOAN REVIEW. (1) Within sixty (60) days of the date of this Agreement, the Board shall establish an effective, independent and on-going loan review system to review, at least quarterly beginning in the second calendar quarter of 2008, the Bank’s loan and lease portfolios to assure the timely identification and categorization of problem credits. The system shall provide for a written report to be filed with the Board after each review and 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. Such reports shall include, at a minimum, conclusions regarding:
INDEPENDENT LOAN REVIEW. (1) The Board shall, within ninety (90) days, submit the resume and qualifications of the person(s) or firm selected by the Board to conduct an independent review and identification of the Bank's problem loans and leases (the "Independent Reviewer"), including the proposed scope of their loan review engagement to the Assistant Deputy Comptroller for review and determination of no supervisory objection. The engagement shall provide for the periodic (and not less than annual) review of the Bank's loan and lease portfolios to assure the timely identification and categorization of problem credits. The engagement shall provide for a written report to be filed with the Board after each review, and 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. Such reports shall include, at a minimum, conclusions regarding:
INDEPENDENT LOAN REVIEW. (1) Within sixty (60) days of the date of this Agreement, the Board shall establish and adopt, and the Bank (subject to Board review and on-going monitoring) shall implement and thereafter ensure adherence to a written loan review program that requires an effective, independent and on-going loan review system consistent with OCC Bulletin 2006-47, including the Interagency Policy Statement on the Allowance for Loan and Lease Losses attached thereto, to review, at least quarterly, the Bank's loan and lease portfolios. The program shall address all corrective actions related to independent loan review as identified in the most recent XXX. In addition, the program shall provide for a written report to be filed with the Board after each review and shall use a loan and lease grading system consistent with the guidelines set forth in 12 C.F.R. § 160.160 (Asset Classification), OCC Bulletin 2006-47, Interagency Policy Statement on the Allowance for Loan and Lease Losses, (December 13, 2006), OCC Bulletin 2000-20, Uniform Retail Credit Classification and Account Management Policy, (June 20, 2000) and the “Rating Credit Risk” booklet of the Comptroller’s Handbook.
INDEPENDENT LOAN REVIEW. (1) Within ninety (90) days, the Board shall employ a sufficiently experienced and qualified person(s) or firm (“Independent Reviewer”) to ensure the timely and independent identification of the Bank's problem loans and leases.
INDEPENDENT LOAN REVIEW. (1) The Board shall, within sixty (60) days after receipt of no supervisory objection from the Assistant Deputy Comptroller pursuant to paragraph (2) of this Article, appoint or employ a capable person(s) or firm to conduct an independent review and identification of the Bank’s problem loans and leases (the “Independent Reviewer”).
INDEPENDENT LOAN REVIEW. (1) Effective as of the date of this Agreement, the Board shall continue to employ a qualified Association employee, consultant or firm to perform periodic, independent loan reviews that are sufficient in scope and coverage to accurately identify the risk in the loan portfolio and make conclusions regarding the items listed in Paragraph (2) of this Article.
INDEPENDENT LOAN REVIEW. (1) Within ninety (90) days, the Board shall modify the Bank’s existing loan review system, and shall implement, and thereafter ensure Bank adherence to the modified system. As modified, the system shall require the Bank to review, at least semi- annually, the Bank's loan and lease portfolios to assure the timely identification and categorization of problem credits. 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. Such reports shall include, at a minimum, conclusions regarding:
INDEPENDENT LOAN REVIEW. (1) The Board shall within sixty (60) days employ or designate a sufficiently experienced and qualified person(s) or firm to ensure the timely and independent identification of problem loans and leases. Prior to the appointment or employment of any individual to this loan review consultant or entering into any contract with a consultant, the Board shall submit the name and qualifications of the proposed consultant and the proposed terms of employment to the Assistant Deputy Comptroller for a prior written determination of no supervisory objection.
