Washington Administrative Code
Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460)
Chapter 208-460 - Member business loans
Section 208-460-120 - How much must I reserve for potential losses?
Universal Citation: WA Admin Code 208-460-120
Current through Register Vol. 24-18, September 15, 2024
The following schedule sets the minimum amount you must reserve for classified member business loans:
|
Classification |
Amount Required |
|
Substandard |
10% of outstanding balance unless other factors (for example, history of such loans at the credit union) indicate a greater or lesser amount is appropriate. |
|
Doubtful |
50% of the outstanding balance. |
|
Loss |
100% of the outstanding balance. |
Statutory Authority: RCW 31.12.426(1), 31.12.516(2), 43.320.040. 01-10-084, § 208-460-120, filed 5/1/01, effective 6/1/01.
Disclaimer: These regulations may not be the most recent version. Washington may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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