PARTICIPATIONS PURCHASED. (1) The Bank may grant, purchase, assume or acquire in any manner, directly or indirectly, or as a fiduciary or nominee, any loan, loan participation, loan obligation or other asset, as long as such grant, purchase, assumption, or acquisition is consistent with safe and sound banking practices, the guidelines set forth in Banking Circular 181 (Revised), dated August 2, 1984, and the requirements of 12 C.F.R. Part 34.
PARTICIPATIONS PURCHASED. The Association may grant, purchase, assume or acquire in any manner, directly or indirectly, or as a fiduciary or nominee, any loan, loan participation, loan obligation or other asset, as long as such grant, purchase, assumption, or acquisition is consistent with safe and sound banking practices, the Association’s own credit underwriting policy, the guidelines set forth in Interagency Statement on Sales of 100% Loan Participations (April 10, 1997), OTS Examination Handbook Section 201 (Lending Operations and Portfolio Risk Management), and the requirements of 12 C.F.R. Part 160.
PARTICIPATIONS PURCHASED. (1) Within forty-five (45) days, the Board shall develop a written policy that provides guidelines for credit participation activities, to include, at a minimum:
PARTICIPATIONS PURCHASED. (1) The Board shall, within ninety (90) days, develop, implement, and thereafter ensure Bank adherence to written procedures to ensure that if the Bank purchases, assumes or acquires in any manner, directly or indirectly, or as a fiduciary or nominee, any loan, loan participation, loan obligation or other asset, that:
PARTICIPATIONS PURCHASED. (1) Within sixty (60) days of the date of this Agreement, the Board shall review, revise, and thereafter ensure adherence to the Bank’s Loan Policy to include, at a minimum, revisions relating to guidelines for participations purchased as set forth in Banking Circular 181 (Revised), dated August 2, 1984, and the requirements of 12 C.F.R. Part 34, to include, at a minimum:
PARTICIPATIONS PURCHASED. (1) The Bank may grant, purchase, assume in any manner, directly or indirectly, or as fiduciary or nominee, any loan participation, only after the total of Bank assets classified as “substandard” or “doubtful” is less than thirty-five (35) percent of tier 1 capital.
PARTICIPATIONS PURCHASED. (1) Within ninety (90) days, the Board shall employ qualified personnel with the expertise necessary to manage the higher complexity of the Bank’s loan participations purchased portfolio. Prior to the employment of any individual(s) to oversee the participations purchased portfolio, the Board shall submit the name(s) and qualification(s) of the proposed individual(s) and the proposed terms of employment to the Assistant Deputy Comptroller for a prior written determination of no supervisory objection, which the Assistant Deputy Comptroller may withhold in his sole discretion.
PARTICIPATIONS PURCHASED. (1) The Board shall continue to ensure the Bank’s adherence to its written policy that provides guidelines for credit participation activities. These guidelines must continue to include, at a minimum:
PARTICIPATIONS PURCHASED. (1) Effective immediately, the Bank may not grant, purchase, assume or acquire in any manner, directly or indirectly, or as a fiduciary or nominee, any loan, loan participation, loan obligation or other asset, unless the Bank has documented in writing that such grant, purchase, assumption, or acquisition is consistent with:
