Environmental Risk Update

Environmental Risk Policy Template Update - 12/07/06

Bankpolicies.com is proud to announce the immediate availability of our revised Environmental Risk Program Policy Template product.

This product was revised in response to the Federal Deposit Insurance Corporation (FDIC) Financial Institution Letter 98-2006 dated November 13, 2006 issuing updated Guidelines for an Environmental Risk Program to reflect changes to the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA) related to the Environmental Protection Agency's (EPA) All Appropriate Inquiry Rule.

http://www.fdic.gov/news/news/financial/2006/fil06098.html

The All Appropriate Inquiry Rule became effective November 1, 2006.

What's New

Topic 3 - Definitions.

Topic 4 - Environmental Risk Program Overview. This new topic includes the following subtopics:

General

Staff Training

Applicability to Lending Policies

Environmental Risk Analysis

Structured Environmental Risk Assessment

Monitoring

Loan Documentation

Involvement in Borrower's Operations

Foreclosure

Topic 5 - Regulatory Requirements. This new topic includes an overview of regulatory requirements and a complete reference to the EPA's ALL Appropriate Inquiry Rule.

Topic 10 - Audit Policy.

Topic 11 - Staff Training.

Topic 12 - Retention of Documentation.

What's Revised

The following topics were completely revised to incorporate addition guidance:

Topic 2 - Policy Statement.

Topic 6 - Environmental Sensitive Industries.

Topic 7 - Environmental Sensitive Collateral.

Topic 8 - Existing Loans with Environmental Exposure.

Topic 9 - Phase I/II Environmental Assessments.

Product Contents

Purpose and Contents - Topic 1

Policy Statement - Topic 2

Definitions - Topic 3

Environmental Risk Program Overview - Topic 4

Regulatory Requirements - Topic 5

Environmental Sensitive Industries - Topic 6

Environmental Sensitive Collateral - Topic 7

Existing Loans with Environmental Exposure - Topic 8

Phase I/II Environmental Assessments - Topic 9

Audit Policy - Topic 10

Staff Training - Topic 11

Retention of Documentation - Topic 12

Ordering Information

This revised product is available to purchase from Bankpolicies.com for:

$150.00 - List Price

- or -

$75.00* - Update Price

*Applies only to clients who have purchased our Environmental Risk Program Policy.

If you have ordered this product after 11/07/06 you are eligible to receive the updated product at no charge.

Click here to place an order for this product. Clients who are eligible for our Legacy Rewards Volume Discount can apply their applicable discount level to the list or update price (whichever applies).

NOTE: Refer to our Place an Order page for important information regarding payment terms and our return policy. Orders placed for Product Updates are only available directly through Bankpolicies.com.