Source: https://www.law.cornell.edu/cfr/text/12/217.121
Timestamp: 2019-05-20 16:39:17
Document Index: 571830012

Matched Legal Cases: ['§ 217', '§ 217', '§ 217', '§ 217', '§ 217', '§ 217', '§ 217', '§ 217', '§ 217', '§ 217', '§ 217', '§ 217', '§ 217', '§ 217', '§ 217', '§ 217']

12 CFR § 217.121 - Qualification process. | CFR | US Law | LII / Legal Information Institute
Section 217.121. Qualification process.
12 CFR § 217.121 - Qualification process.
§ 217.121 Qualification process.
(1) A Board-regulated institution that is described in § 217.100(b)(1)(i) and (ii) must adopt a written implementation plan no later than six months after the date the Board-regulated institution meets a criterion in that section. The implementation plan must incorporate an explicit start date no later than 36 months after the date the Board-regulated institution meets at least one criterion under § 217.100(b)(1)(i) and (ii). The Board may extend the start date.
(2) A Board-regulated institution that elects to be subject to this subpart under § 217.101(b)(1)(iii) must adopt a written implementation plan.
(b)Implementation plan.
(1) The Board-regulated institution's implementation plan must address in detail how the Board-regulated institution complies, or plans to comply, with the qualification requirements in § 217.122. The Board-regulated institution also must maintain a comprehensive and sound planning and governance process to oversee the implementation efforts described in the plan. At a minimum, the plan must:
(i) Comprehensively address the qualification requirements in § 217.122 for the Board-regulated institution and each consolidated subsidiary (U.S. and foreign-based) of the Board-regulated institution with respect to all portfolios and exposures of the Board-regulated institution and each of its consolidated subsidiaries;
(A) The Board-regulated institution's current status in meeting the qualification requirements in § 217.122; and
(iv) Based on the Board-regulated institution's self-assessment, identify and describe the areas in which the Board-regulated institution proposes to undertake additional work to comply with the qualification requirements in § 217.122 or to improve the consistency of the Board-regulated institution's current practices with the Board's supervisory guidance on the qualification requirements (gap analysis);
(c)Parallel run. Before determining its risk-weighted assets under this subpart and following adoption of the implementation plan, the Board-regulated institution must conduct a satisfactory parallel run. A satisfactory parallel run is a period of no less than four consecutive calendar quarters during which the Board-regulated institution complies with the qualification requirements in § 217.122 to the satisfaction of the Board. During the parallel run, the Board-regulated institution must report to the Board on a calendar quarterly basis its risk-based capital ratios determined in accordance with § 217.10(b)(1) through (3) and § 217.10(c)(1) through (3). During this period, the Board-regulated institution's minimum risk-based capital ratios are determined as set forth in subpart D of this part.
(d)Approval to calculate risk-based capital requirements under this subpart. The Board will notify the Board-regulated institution of the date that the Board-regulated institution must begin to use this subpart for purposes of § 217.10 if the Board determines that:
(1) The Board-regulated institution fully complies with all the qualification requirements in § 217.122;
(3) The Board-regulated institution has an adequate process to ensure ongoing compliance with the qualification requirements in § 217.122.