12 CFR 621.9 - Reinstatement to accrual status.

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There is 1 rule appearing in the Federal Register for 12 CFR 621. View below or at eCFR (GPOAccess)
§ 621.9 Reinstatement to accrual status.
A loan may be reinstated to accrual status, when each of the following criteria are met:
(a) All contractual principal and interest due on the loan is paid and the loan is current;
(b) Prior chargeoffs are recovered, except for troubled debt restructures;
(c) No reasonable doubt remains regarding the willingness and ability of the borrower to perform in accordance with the contractual terms of the loan agreement; and
(d) Reinstatement is supported by a period of sustained performance in accordance with the contractual terms of the note and/or loan agreement. Sustained performance will generally be demonstrated by 6 consecutive monthly payments, 4 consecutive quarterly payments, 3 consecutive semi-annual payments, or 2 consecutive annual payments.

Title 12 published on 2014-01-01

The following are only the Rules published in the Federal Register after the published date of Title 12.

For a complete list of all Rules, Proposed Rules, and Notices view the Rulemaking tab.

  • 2014-02-26; vol. 79 # 38 - Wednesday, February 26, 2014
    1. 79 FR 10661 - Releasing Information; General Provisions; Accounting and Reporting Requirements; Reports of Accounts and Exposures
      GPO FDSys XML | Text
      FARM CREDIT ADMINISTRATION
      Notice of effective date.
      Effective date: Under the authority of 12 U.S.C. 2252, the regulation amending 12 CFR parts 602, 618, and 621 published on December 24, 2013 (78 FR 77557), is effective February 21, 2014. Compliance Date: All provisions of this regulation require compliance on the effective date, except the Reporting Entity's requirements under § 621.15(b)(1) through (6). We are delaying compliance with these requirements to allow for the development of and transition to the System's central data repository. We will publish the compliance date for these requirements in the Federal Register .
      12 CFR Parts 602, 618, and 621

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United States Code
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Title 12 published on 2014-01-01

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 12 CFR 621 after this date.

  • 2014-02-26; vol. 79 # 38 - Wednesday, February 26, 2014
    1. 79 FR 10661 - Releasing Information; General Provisions; Accounting and Reporting Requirements; Reports of Accounts and Exposures
      GPO FDSys XML | Text
      FARM CREDIT ADMINISTRATION
      Notice of effective date.
      Effective date: Under the authority of 12 U.S.C. 2252, the regulation amending 12 CFR parts 602, 618, and 621 published on December 24, 2013 (78 FR 77557), is effective February 21, 2014. Compliance Date: All provisions of this regulation require compliance on the effective date, except the Reporting Entity's requirements under § 621.15(b)(1) through (6). We are delaying compliance with these requirements to allow for the development of and transition to the System's central data repository. We will publish the compliance date for these requirements in the Federal Register .
      12 CFR Parts 602, 618, and 621