Common use of Interest Rate Risk Management Clause in Contracts

Interest Rate Risk Management. (1) Within sixty (60) days of this Agreement, the Board shall prepare, adopt, and thereafter ensure Bank adherence to a written interest rate risk program (including appropriate policies and procedures) that provides for a coordinated interest rate risk strategy and is consistent with the guidelines set forth in Interest Rate Risk, L-IRR, of the Comptroller’s Handbook (June 1997) and OCC Bulletin 2000-16, Risk Modeling – Model Validation (May 30, 2000). The program shall, at a minimum, address:

Interest Rate Risk Management. (1) Within sixty (60) days of this Agreementdays, the Board shall prepareadopt, adoptimplement, and thereafter ensure Bank adherence to a written interest rate risk management program. In formulating this program, the Board shall refer to the “Interest Rate Risk” booklet of the Comptroller’s Handbook. The program (including appropriate policies and procedures) that provides shall provide for a coordinated interest rate risk strategy and is consistent with the guidelines set forth in Interest Rate Risk, L-IRR, of the Comptroller’s Handbook (June 1997) and OCC Bulletin 2000-16, Risk Modeling – Model Validation (May 30, 2000). The program shalland, at a minimum, address:

Interest Rate Risk Management. (1) Within sixty ninety (6090) days of this Agreementdays, the Board shall preparedevelop or revise, adoptimplement, and thereafter ensure Bank adherence to a written interest rate risk management program. The program (including appropriate policies and procedures) that provides for a coordinated interest rate risk strategy and is shall be consistent with guidelines established in the guidelines set forth in Interest Rate Risk, L-IRR, “Bank Supervision Process” booklet of the Comptroller’s Handbook (June 1997) and OCC Bulletin 2000-16Handbook. In addition to guidelines outlined in the above issuance, Risk Modeling – Model Validation (May 30, 2000). The the program shall, at a minimum, addressmust include:

Interest Rate Risk Management. (1) Within sixty (60) days of this Agreementdays, the Board shall prepareadopt, adoptimplement, and thereafter ensure Bank adherence to a comprehensive, written interest rate risk program (including appropriate policies and procedures) that provides policy. In formulating this policy, the Board shall refer to the “Interest Rate Risk” booklet of the Comptroller’s Handbook. The policy shall provide for a coordinated interest rate risk strategy and is consistent with the guidelines set forth in Interest Rate Risk, L-IRR, of the Comptroller’s Handbook (June 1997) and OCC Bulletin 2000-16, Risk Modeling – Model Validation (May 30, 2000). The program shalland, at a minimum, address:

Interest Rate Risk Management. (1) Within sixty ninety (6090) days of this Agreementdays, the Board shall prepare, adopt, adopt and thereafter ensure Bank adherence implement a program to improve the bank’s controls and systems for managing interest rate risk. The program shall provide for a written coordinated strategy to manage interest rate risk program (including appropriate policies and procedures) that provides for a coordinated interest rate risk strategy and is consistent with the guidelines set forth in Interest Rate Risk, L-IRR, of the Comptroller’s Handbook (June 1997) and OCC Bulletin 2000-16, Risk Modeling – Model Validation (May 30, 2000). The program shallmanagement and, at a minimum, address:

Interest Rate Risk Management. (1) Within sixty (60) days of this Agreementdays, the Board shall prepareadopt, adoptimplement, and thereafter ensure Bank adherence to a stronger written interest rate risk program (including appropriate policies policy. In formulating this policy, the Board shall refer to the “Interest Rate Risk” booklet of the Comptroller’s Handbook. The interest rate risk policy and procedures) that provides procedures shall provide for a coordinated interest rate risk strategy and is consistent with the guidelines set forth in Interest Rate Riskstrategy, L-IRR, of the Comptroller’s Handbook (June 1997) and OCC Bulletin 2000-16, Risk Modeling – Model Validation (May 30, 2000). The program shalland, at a minimum, address:

Interest Rate Risk Management. (1) Within sixty ninety (6090) days of this Agreementdays, the Board shall prepareadopt, adoptimplement, and thereafter ensure Bank adherence to a written interest rate risk program (including appropriate policies and procedures) that provides for a coordinated interest rate risk strategy and is consistent with management plan. In formulating this plan, the guidelines set forth in Board shall refer to the Interest Rate RiskRisk booklet, L-IRR, of the Comptroller’s Handbook (June 1997) and OCC Bulletin 2000-16, Risk Modeling – Model Validation (May 30, 2000)Handbook. The program shallplan shall provide for a coordinated interest rate risk strategy and, at a minimum, address:

Interest Rate Risk Management. (1) Within sixty ninety (6090) days of this Agreementdays, the Board shall preparerevise, adoptimplement, and thereafter ensure Bank adherence to a written an interest rate risk program (including appropriate policies policy that is consistent with OCC Bulletin 2010-1 Advisory on Interest Rate Risk Management and procedures) that provides OCC Bulletin 2011-12 Supervisory Guidance on Model Risk Management. At a minimum, the interest rate risk policy shall provide for a coordinated interest rate risk strategy and is consistent with the guidelines set forth in Interest Rate Risk, L-IRR, of the Comptroller’s Handbook (June 1997) and OCC Bulletin 2000-16, Risk Modeling – Model Validation (May 30, 2000). The program shall, at a minimum, addressshall include: