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Code · CFR · Title 12 — Banks and Banking · Part 615 — Funding and Fiscal Affairs, Loan Policies and Operations, and Funding Operations · § 615.5090

§ 615.5090. Reduction in carrying value of collateral.

64 words·~1 min read·/us/cfr/t12/s§ 615.5090·

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When the bank or Farm Credit Administration determines that a loan did not conform to the requirements of the law or regulations at the time the loan was closed, such loan shall be withdrawn from collateral until the cause of ineligibility is remedied. When a loan has been classified as a loss loan, the bank shall adjust the collateral value of the loan accordingly.
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