Federal Regulators Seek Comment on Proposed Guidance for Credit Risk Review Systems
Summary
The FDIC, the Federal Reserve, the Office of the Comptroller of the Currency, and the National Credit Union Administration (the Agencies) are seeking comment on proposed guidance for credit risk review systems. The proposed guidance discusses sound management of credit risk, a system of independent and ongoing credit review, and appropriate communication regarding the performance of the institution's loan portfolio to its management and board of directors. The proposed guidance updates, as a stand-alone document, the elements of an effective credit risk review system currently contained in the Interagency Policy Statement on the Allowance for Loan and Lease Losses (Attachment 1 - Loan Review Systems), issued in 2006.
Statement of Applicability to Institutions under $1 Billion in Total Assets:
This Financial Institution Letter applies to all FDIC-supervised institutions.
Suggested Distribution:
FDIC-Supervised Institutions
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