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In reference to setting up and applying the automated shared asset identification system, the Reporting Entity could offer the banking companies and associations facts from your central info repository to detect and report shared asset exposures.
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(a) A qualified general public accountant engaged to carry out a Farm Credit institution's audit may well not perform the next non-audit expert services for that institution:
(one) Gather, retail store, and regulate the data submitted to it by Each individual financial institution and Affiliation beneath the requirements of the segment within a central details repository in accordance with Farm Credit rating Administration polices and prescribed Directions.
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(b) Steps taken to reinforce the collectibility of a personal loan shall not be considered to relieve an institution with the prerequisite to observe and Assess the personal loan for the objective of figuring out its performance position.
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(two) A mortgage placed in nonaccrual position when earlier because of instead of sufficiently secured will have to keep on being latest on contractual payments for the period of sustained general performance prior to it may be reinstated.
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(one) Account for, report, and speak in confidence to shareholders, buyers, boards of directors, plus the Farm Credit score Administration all content products with regard to functionality groups and also other property owned in accordance with The principles and definitions established forth In this particular aspect and every other applicable demands;
(i) Have to be signed by the chief government officer, or human being in an equivalent position, and submitted on the Farm Credit history Administration once the Reporting Entity turns into aware about its incapability to comply;
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