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Product Update Notification Loan Loss Reserve (ALLL) Policy Template Update - 05/02/06 Bankpolicies.com is proud to announce the immediate availability of our revised Loan Loss Reserve (ALLL) Policy Template product. The revision to this product is in response to client suggestions that we incorporate detailed Uniform Retail Credit Classification and Account Management Policy Guidance (Uniform Policy - Topic 4) in addition to our other references to this rule throughout our product. We also added several subtopics under Topic 8 - Methodology based upon client requests for more detailed guidance. What's New Topic 4 - Uniform Policy. Subtopics within this section are: General Classifications and Treatment of Retail Credit Other Considerations for Classification Partial Payments on Open and Closed End Credit Re-Aging, Extensions, Deferrals, Renewals and Rewrites Loss Reporting What's Revised Topic 2 - Policy Statement. The "General" and "Policy Statement" subtopics were expanded to include additional ALLL policy statements and guidance. Topic 3 - Responsibility. Responsibilities for the Board of Directors, Senior Management, Chief Credit Officer and Loan Officers were expanded. Topic 7 - Frequency. A paragraph was added to reference the adequacy of ALLL review to coincide with a financial institution's preparation of the Call Report on a quarterly basis. Topic 8 - Methodology. This topic was completely revised and now includes the following subtopics: General Completion of ALLL Analysis Historical Loss Analysis Specific Allocations Qualitative Factor Considerations Other Ratio Analysis Credit Card Loss Allowances Reserve Guidelines Validation of Methodology Product Contents Purpose and Contents - Topic 1 Policy Statement - Topic 2 Responsibility - Topic 3 Uniform Policy Guidelines - Topic 4 Goals and Objectives - Topic 5 Evaluation Process - Topic 6 Frequency - Topic 7 Methodology - Topic 8 Application of GAAP - Topic 9 ALLL FAS 114 Guidelines - Topic 10 ALLL FAS 5 Guidelines - Topic 11 Recommendations, Documentation and Approval - Topic 12 Recoveries - Topic 13 Includes the following form template: Loan Grade Change Request (1 page) Ordering Information This revised product is available to purchase from Bankpolicies.com for: $225.00 - List Price - or - $75.00 - Update Price (applies only to clients who have previously purchased our Loan Loss Reserve (ALLL) Policy Template product. If you have ordered this product after 04/02/06 you are eligible to receive the Product Update 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. Find Out What's New or Revised with our Product Update Program Our Product Update Program allows existing clients to receive e-mail notifications from us the same day we issue a new or revised product. We encourage you to subscribe today for this free and convenient service. |