Common use of New Products and Services Clause in Contracts

New Products and Services. (1) Prior to the Bank's involvement in any new products or services--whether offered through the Bank, an operating subsidiary, an investment partner or the bank holding company-- the Board shall prepare a written analysis of said product or service. The analysis shall, at a minimum, include the following:

New Products and Services. (1) Prior to the Bank's involvement in any new products or services--whether offered through the Bank, an operating subsidiary, an investment partner or the bank holding company-- services the Board shall prepare a written analysis of said product or service. The analysis shall, at a minimum, include the following:

New Products and Services. (1) Prior to the Bank's involvement in any new products or services--whether offered through services the Bank, an operating subsidiary, an investment partner Board or the bank holding company-- a committee designated by the Board shall prepare a written analysis of said product or service. The analysis shall, at a minimum, include an evaluation of the following:adequacy of the Bank’s organizational structure, staffing, MIS, internal controls and written policies and procedures to identify, measure, monitor, and control the risks associated with the product or service.

New Products and Services. (1) Prior to the Bank's ’s involvement in any new products or services--whether offered through services the Bank, an operating subsidiary, an investment partner Board or the bank holding company-- a committee designated by the Board shall prepare a written analysis of said product or service. The analysis shall, at a minimum, include an evaluation of the following:adequacy of the Bank’s organizational structure, staffing, MIS, internal controls and written policies and procedures to identify, measure, monitor, and control the risks associated with the product or service.

New Products and Services. (1) Prior to the Bank's involvement in offering of any new products or services--whether offered through the Bank, an operating subsidiary, an investment partner or the bank holding company-- significant expansion of any existing product or service, the Board shall prepare cause to be prepared a written analysis of said that product or service. The analysis shall, at a minimum, include the following:

New Products and Services. (1) Prior to the Bank's ’s involvement in any new products or services--whether offered through the Bank, an operating subsidiary, an investment partner or the bank holding company-- services the Board shall prepare a written analysis of said product or service. The analysis shall, at a minimum, include assess the following:risks and benefits of the product or service to the Bank. Also, the new product or service must be consistent with the Bank’s strategic plan.