United States: Proposed Guidance for Credit Risk Review Systems
The FDIC, the Federal Reserve, the Office of the Comptroller of the Currency, and the National Credit Union Administration 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 an institution’s loan portfolio to its management and board of directors.
The proposed guidance updates the elements of an effective credit risk review system currently contained in the Interagency Policy Statement on the Allowance for Loan and Lease Losses, issued in 2006.
Comments on the proposal will be accepted for 60 days after publication in the Federal Register.
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