12 CFR 208.51 - Real estate lending standards.
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(a) Adoption of written policies. Each state bank that is a member of the Federal Reserve System shall adopt and maintain written policies that establish appropriate limits and standards for extensions of credit that are secured by liens on or interests in real estate, or that are made for the purpose of financing permanent improvements to real estate.
(b) Requirements of lending policies. (1) Real estate lending policies adopted pursuant to this section shall be:
(iii) Reviewed and approved by the bank's board of directors at least annually.
(iv) Documentation, approval, and reporting requirements to monitor compliance with the bank's real estate lending policies.
(c) Monitoring conditions. Each member bank shall monitor conditions in the real estate market in its lending area to ensure that its real estate lending policies continue to be appropriate for current market conditions.
Title 12 published on 2015-01-01.
No entries appear in the Federal Register after this date, for 12 CFR Part 208.