Definitions.

CFR · 2024-01-01 · US · Title 12

(a) Terms that are set forth in § 324.2 and used in this subpart have the definitions assigned thereto in § 324.2. (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 FDIC-supervised institution 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 FDIC-supervised institution 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 FDIC-supervised institution may elect to use the definition of default that is used in that jurisdiction, provided that the FDIC-supervised institution has obtained prior approval from the FDIC to use the definition of default in that jurisdiction. (iii) A retail exposure in default remains in default until the FDIC-supervised institution has reasonable assurance of repayment and performance for all contractual principal and interest pay

official document · source cfr-2024 · id 12:§ 324.101