Common use of Liquidity Management Clause in Contracts

Liquidity Management. (1) Within sixty (60) days of this Agreement, the Board shall develop and submit for a prior written determination of no supervisory objection, a written liquidity program to ensure the Bank maintains liquidity at a level that is sufficient to sustain the Bank’s current operations and to withstand any anticipated or extraordinary demand against its funding base, to include at a minimum: (a) measures to increase and maintain sufficient on-balance sheet asset liquidity; (b) the establishment of additional back-up funding sources; (c) policies and procedures to ensure the implementation of adequate liquidity planning tools, to include: (i) a review of administrative policies and procedures to ensure they are consistent with the Board’s guidance and risk tolerances; (ii) specific balance sheet liquidity targets that are consistent with the tools used to measure performance; and (iii) reasonable risk limits to control the level of liquidity risk that incorporate forward-looking risk measurements and liability concentration limits such as limits on the amount of funds that may be sourced from any individual customer or groups of customers, or liability concentration limits by instrument; (d) a plan to reduce reliance upon non-core funding sources, including brokered deposits, credit-sensitive wholesale borrowings and uninsured deposits, consistent with the Bank’s liability concentration limits; and (e) a contingency funding plan (“CFP”) that ensures the Bank can remain liquidity solvent through stressed environments and that includes, at a minimum: (i) management’s best estimate of balance sheet changes that may result from a liquidity or credit event; (ii) specific terms or events that trigger enactment of the plan; (iii) necessary management information systems and reporting criteria for use in crises situations; (iv) management responsibilities for enacting the plan and for taking specific actions once enacted; (v) prioritization of all sources of funding for the various scenarios including asset side funding, liability side funding, and off-balance sheet funding; and (vi) revisions to the CFP, when appropriate, based upon changes made to the liquidity program (2) Upon receiving a written determination of no supervisory objection from the Assistant Deputy Comptroller, the Board shall immediately implement and shall thereafter ensure adherence to the liquidity program.

Liquidity Management. (1) Within sixty (60) days of this Agreement, the Board shall develop and submit for a prior written determination of no supervisory objection, a written liquidity program to ensure the Bank maintains liquidity at a level that is sufficient to sustain the Bank’s current operations and to withstand any anticipated or extraordinary demand against its funding base, to include at a minimum: (a) measures to increase and maintain sufficient on-balance sheet asset liquidity; (b) reduced reliance upon non-core funding sources, including brokered deposits and credit-sensitive wholesale borrowings; (c) the establishment of additional back-up funding sources; (cd) policies and procedures to ensure the implementation of adequate liquidity planning tools, to include: (i) a review of administrative policies and procedures to ensure they are consistent with the Board’s guidance and risk tolerances; (ii) specific balance sheet liquidity targets that are consistent with the tools used to measure performance; and; (iii) reasonable risk limits to control the level of liquidity risk that incorporate forward-looking risk measurements and liability concentration limits such as limits on the amount of funds that may be sourced from any individual customer or groups of customers, or liability concentration limits by instrument; (d) a plan to reduce reliance upon non-core funding sources, including brokered deposits, credit-sensitive wholesale borrowings and uninsured deposits, consistent with the Bank’s liability concentration limits; and (e) a contingency funding plan (“CFP”) that ensures the Bank can remain liquidity solvent through stressed environments and that includes, at a minimum: (i) management’s best estimate of balance sheet changes that may result from a liquidity or credit event; (ii) specific terms or events that trigger enactment of the plan; (iii) necessary management information systems and reporting criteria for use in crises crisis situations; (iv) management responsibilities for enacting the plan and for taking specific actions once enacted;taking (v) prioritization of all sources of funding for the various scenarios including asset side funding, liability side funding, and off-balance sheet funding; and (vi) revisions to the CFP, when appropriate, based upon changes made to the liquidity program. (2) Upon receiving a written determination of no After the OCC has advised the Bank that it does not take supervisory objection from to the Assistant Deputy Comptrollerliquidity program required by this Article, the Board shall immediately implement implement, and shall thereafter ensure adherence to the liquidity programits terms.

Liquidity Management. (1) Within sixty ninety (6090) days of this Agreement, the Board shall develop review and submit for a prior written determination of no supervisory objection, a written revise its liquidity program to ensure the Bank maintains liquidity at a level that is sufficient to sustain the Bank’s current operations and to withstand any anticipated or extraordinary demand against its funding base, to include at a minimum: (a) measures to increase and maintain sufficient on-balance sheet asset liquidity; (b) the establishment of additional back-up funding sources; (c) policies and procedures to ensure the implementation of adequate liquidity planning tools, to include: (i) a review of administrative policies and procedures to ensure they are consistent with the Board’s guidance and risk tolerances; (ii) specific balance sheet liquidity targets that are consistent with the tools used to measure performance; and; (iii) reasonable risk limits to control the level of liquidity risk that incorporate forward-looking risk measurements and liability concentration limits such as limits on the amount of funds that may be sourced from any individual customer or groups of customers, or liability concentration limits by instrument, and which at a minimum should cover on-balance sheet liquidity requirements, funding diversification standards, and overall wholesale funding dependence; (c) comprehensive and forward-looking sources and uses management information systems (“MIS”) that includes projected sources and uses of funds from both the mortgage banking and commercial banking operations, and covers at least a 90-day period; and (d) a plan to reduce reliance upon non-core funding sources, including brokered deposits, credit-sensitive wholesale borrowings and uninsured deposits, consistent with the Bank’s liability concentration limits; and (e) a revised contingency funding plan (“CFP”) that ensures the Bank can remain liquidity solvent through stressed environments and that includes, at a minimum: (i) management’s best estimate of balance sheet changes that may result from a liquidity or credit event; (ii) specific terms or events that trigger enactment of the plan; (iii) necessary management information systems MIS and reporting criteria for use in crises situations; (iv) management responsibilities for enacting the plan and for taking specific actions once enacted; (v) prioritization of all sources of funding for the various scenarios including asset side funding, liability side funding, and off-balance sheet funding; and (vi) revisions updated stress testing scenarios that include a less-than-well- capitalized scenario in addition to the CFPstress events currently utilized, when appropriateand which consider realistic adverse events such as inability to utilize certain funding sources, based upon changes made to the liquidity programin collateral requirements, and increases in pricing. (2) Upon receiving a written determination of no supervisory objection from the Assistant Deputy Comptrolleradoption, the Board Bank shall immediately implement and shall thereafter ensure adherence submit a copy of the revised program to the liquidity programADC for review.

Liquidity Management. (1) Within sixty (60) days of the date of this Agreement, the Board Bank shall develop and submit for a prior written determination of no supervisory objection, a written liquidity program to ensure the Bank maintains liquidity at a level that is sufficient to sustain the Bank’s current operations and to withstand any anticipated or extraordinary demand against its funding base, to include at a minimum: (a) measures to increase and maintain sufficient on-balance sheet asset liquidity; (b) a detailed plan to significantly and expeditiously reduce reliance upon non-core funding sources, including brokered deposits, credit-sensitive wholesale borrowings and uninsured deposits. This plan shall include, at a minimum: (i) specific milestones by which the establishment Bank plans to reduce brokered deposits to a significantly diminished percentage of additional its funding base; (ii) a detailed explanation of how the Bank intends to meet the brokered deposit reduction milestones required by paragraph (1)(b)(i) of this Article; and (iii) detailed justifications for the brokered deposit reduction milestones chosen for the dates listed in paragraph (1)(b)(i), including an analysis of whether certain lending operations conducted by the Bank’s various operating subsidiaries that are funded through brokered deposits are no longer viable given the Bank’s need to greatly reduce reliance on brokered deposits. (c) the maintenance of appropriate back-up funding sources; (cd) policies and procedures to ensure the implementation of adequate liquidity planning tools, to include: (i) a review of administrative policies and procedures to ensure they are consistent with the Board’s guidance and risk tolerances; (ii) specific balance sheet liquidity targets that are consistent with the tools used to measure performance; and; (iii) reasonable risk limits to control the level of liquidity risk that incorporate forward-looking risk measurements and liability concentration limits such as limits on the amount of funds that may be sourced from any individual customer or groups of customers, or liability concentration limits by instrument; (d) a plan to reduce reliance upon non-core funding sources, including brokered deposits, credit-sensitive wholesale borrowings and uninsured deposits, consistent with the Bank’s liability concentration limits; and (e) a contingency funding plan (“CFP”) that ensures the Bank can remain liquidity solvent through stressed environments and that includes, at a minimum: (i) management’s best estimate of balance sheet changes that may result from a liquidity or credit event; (ii) specific terms or events that trigger enactment of the plan; (iii) necessary management information systems and reporting criteria for use in crises situations; (iv) management responsibilities for enacting the plan and for taking specific actions once enacted;; and (v) prioritization of all sources of funding for the various scenarios including asset side funding, liability side funding, and off-balance sheet funding; and (vi) revisions to the CFP, when appropriate, based upon changes made to the liquidity program. (2) Upon receiving a written determination of no After the OCC has advised the Bank that it does not take supervisory objection from to the Assistant Deputy Comptrollerliquidity program required by this Article, the Board Bank shall immediately implement and shall thereafter ensure adherence adhere to the liquidity programits terms.

Liquidity Management. (1) Within sixty thirty (6030) days of this Agreement, the Board shall develop and submit for a prior written determination of no supervisory objection, a written liquidity program to ensure the Bank maintains liquidity at a level that is sufficient to sustain the Bank’s current operations and to withstand any anticipated or extraordinary demand against its funding base, to include at a minimum: (a) measures the appointment of a senior officer to increase and maintain sufficient on-balance sheet asset liquiditybe responsible for ensuring that the Bank has adequate liquidity to meet all of the Bank’s funding needs; (b) a proactive Asset Liability Committee (“ALCO”) that formally meets at least weekly; (c) the maintenance of sustained on-balance sheet liquidity; (d) the elimination of reliance upon non-core/non-relationship brokered deposits; (e) the diversification of risk by staggering the maturities of large deposits; (f) the establishment of additional back-up wholesale funding sources; (cg) policies and procedures to ensure the implementation of adequate liquidity planning tools, to include: (i) a review of administrative policies and procedures to ensure they are consistent with the Board’s guidance and risk tolerances; (ii) specific balance sheet liquidity targets that are consistent with the tools used to measure performance; and; (iii) reasonable risk limits to control the level of liquidity risk that incorporate forward-looking risk measurements and liability concentration limits such as limits on the amount of funds that may be sourced from any individual customer or groups of customers, or liability concentration limits by instrument; (d) a plan to reduce reliance upon non-core funding sources, including brokered deposits, credit-sensitive wholesale borrowings and uninsured deposits, consistent with the Bank’s liability concentration limits; and (eh) a contingency funding plan (“CFP”) that ensures the Bank can remain liquidity solvent through stressed environments and that includes, at a minimum: (i) management’s best estimate of balance sheet changes that may result from a liquidity or credit event; (ii) specific terms or events that trigger enactment of the planenactment; (iii) necessary management information systems and reporting criteria for use in crises situations; (iv) management responsibilities for enacting the plan and for taking specific actions once enacted;; and (v) prioritization of all sources of funding for the various scenarios including asset side funding, liability side funding, and off-balance sheet funding; and (vi) revisions to the CFP, when appropriate, based upon changes made to the liquidity program. (2) Upon receiving a written determination of no After the OCC has advised the Bank that it does not take supervisory objection from to the Assistant Deputy Comptrollerliquidity program required by this Article, the Board shall immediately implement implement, and shall thereafter ensure adherence to the liquidity programits terms.