12 CFR 621.9 - Reinstatement to accrual status.

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There are 2 Updates 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.

  • 2014-10-22; vol. 79 # 204 - Wednesday, October 22, 2014
    1. 79 FR 63033 - Releasing Information; General Provisions; Accounting and Reporting Requirements; Reports of Accounts and Exposures
      GPO FDSys XML | Text
      FARM CREDIT ADMINISTRATION
      Final rule; notice of compliance date.
      The compliance date for the Reporting Entity requirements under § 621.15(b)(1) through (6), published December 24, 2013, at 78 FR 77557, effective February 21, 2014, is October 22, 2014.
      12 CFR Part 621

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United States Code

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.

  • 2014-10-22; vol. 79 # 204 - Wednesday, October 22, 2014
    1. 79 FR 63033 - Releasing Information; General Provisions; Accounting and Reporting Requirements; Reports of Accounts and Exposures
      GPO FDSys XML | Text
      FARM CREDIT ADMINISTRATION
      Final rule; notice of compliance date.
      The compliance date for the Reporting Entity requirements under § 621.15(b)(1) through (6), published December 24, 2013, at 78 FR 77557, effective February 21, 2014, is October 22, 2014.
      12 CFR Part 621