FDIC TE Set 300 Questions And Answers Rated 100% Correct!!
0 view 0 purchase
Course
FDIC TE Set 300
Institution
FDIC TE Set 300
Executive Officers per Regulation O - ️️Chairmen of the Board
President
Secretary
Treasurer
Cashier
VPs
Unless specifically excluded by Board Resolution and nonparticipatory in policy making
functions
Change in Control - Part 303 - ️️Any person seeking to acquire to control (power t...
FDIC TE Set 300
Executive Officers per Regulation O - ✔️✔️Chairmen of the Board
President
Secretary
Treasurer
Cashier
VPs
Unless specifically excluded by Board Resolution and nonparticipatory in policy making
functions
Change in Control - Part 303 - ✔️✔️Any person seeking to acquire to control (power to
vote 25% or more of any class of voting securities) of any bank or BHC, 60 days prior
written notice to agency
Person - individual, partnership, trust, associate, joint venture, or any other form
Notice of Acquisition of Control form required to be filed with the appropriate RO
accompanied by Financial Report and Biographical Information for each of acquiring
parties.
What banks are eligible for Expedited Application Process? - ✔️✔️Composite 1 or 2
CRA - satisfactory
Compliance 1 or 2
WC under PCA
Not subject to any written agreement (formal or informal)
When can FDIC alternate exams with State? - ✔️✔️Composite 1 or 2
Stable and improving 3 (confirmed by SCOR); no known adverse trends
End of one exam and start of next not exceed 12 (18) months.
End defined as submission to RO or 60 days from start date
4 BSA Pillars - Part 326 - ✔️✔️System of Internal Controls
Independent Testing
Designated BSA Officer
Provide Training to all employees
Section 6 of FDIC Act - New Bank Application Factors - ✔️✔️1. Adequacy of Capital
Structure - T1C not less than 8% for 7 years. Initial capital normally $2MM excess of
any preopening expenses and an adequate ALLL.
, 2. Convenience and Needs of community to be served.
3. Consistency of Corporate Powers with purposes of the FDI act
4. Financial History and Condition
5. Future Earnings Prospects
6. General Character of Management (#1)
7. Risk presented to DIF
Insiders per Regulation O - ✔️✔️Directors
Principal Shareholders
Executive Officers
Related interest of above
- company controlled by insider, or political campiagn controlled by, or for the benefit of,
the insider
Unimpaired Capital & Surplus - ✔️✔️Tier 1 Capital
Tier 2 capital
Excess ALLL
Executive Officer and Director Overdrafts - ✔️✔️May not pay overdraft for XO or
director (or of bank affiliates) unless:
written, preauthorized, interest bearing extension of credit plan that specifies method of
repayment
Written, preauthorized, transfer of funds from another account
Exception: inadvertent overdfraft of aggregate $1M or less provided not more than 5
business days, same fee charged as any other customer.
Doesn't apply to related interests, or shareholders
SARs must be filed when? - ✔️✔️Insider abuse in any amount
$5M or more when suspect known (30 days)
$25M or more when suspect unkown (60 days)
$5M when money suspect money laundering/BSA violations
Low Quality Assets - 23A - ✔️✔️Adversely Classified or SM
Non-accrual
>30 days PD
TDR
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller ACADEMICMATERIALS. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $7.99. You're not tied to anything after your purchase.
