Definitions.

CFR · 2024-01-01 · US · Title 12

(a) Terms that are set forth in § 3.2 and used in this subpart have the definitions assigned thereto in § 3.2. (b) For the purposes of this subpart, the following terms are defined as follows: (1) (A) The exposure is 180 days past due, in the case of a residential mortgage exposure or revolving exposure; (B) The exposure is 120 days past due, in the case of retail exposures that are not residential mortgage exposures or revolving exposures; or (C) The national bank or Federal savings association has taken a full or partial charge-off, write-down of principal, or material negative fair value adjustment of principal on the exposure for credit-related reasons. (ii) Notwithstanding paragraph (1)(i) of this definition, for a retail exposure held by a non-U.S. subsidiary of the national bank or Federal savings association that is subject to an internal ratings-based approach to capital adequacy consistent with the Basel Committee on Banking Supervision's “International Convergence of Capital Measurement and Capital Standards: A Revised Framework” in a non-U.S. jurisdiction, the national bank or Federal savings association may elect to use the definition of default that is used in that jurisdiction, provided that the national bank or Federal savings association has obtained prior approval from the OCC to use the definition of default in that jurisdiction. (iii) A retail exposure in default remains in default until the national bank or Federal savings association has reasonable assur

official document · source cfr-2024 · id 12:§ 3.101