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TE > Acronyms > Flashcards

Acronyms Flashcards

1
Q

Minimum Appraisal Standards - SCUMWADD

A 
State Certified or licensed appraiser
USPAP
Market Value
Written
Appropriate Deductions and Discounts
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2
Q

Part 365 - require RE loan policy elements - DULAM

A

Diversification
Underwriting
Loan Administration
Monitoring (compliance with policy)

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3
Q

Top 4 Reasons Violations Occur - WUMN

A

Willful non-compliance - most severe
Unfamiliarity - most common
Misinterpretation - Most common
Negligence

don’t care, don’t know, don’t understand, irresponsible

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4
Q

Potential Risks arising from 3rd party relationships - TORCOCS

A 
Transaction Risk, 
Operation Risk, 
Reputation Risk
Compliance Risk 
Other Risk
Credit Risk
Strategic Risk
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5
Q

Types of IRR - PROBY

A 
Price
Re-price
Option
Basis
Yield
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6
Q

Types of market risk - PIBY

A

Price
IRR
Basis
Yield Curve

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7
Q

Trust Components - MOa-E-CA

A 
Management
Operations/IRC/Audit
Earnings (only assess in departments $100 million or more in Total trust assets)
Compliance 
Asset Management
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8
Q

Information needed for

1) CTR for person conducting transaction.
2) bank for Monetary instrument transaction ($3M - $10M) if bank does not have customer at depositor.
3) information needed prior to account opening for CIP requirements

SAND

A

SSN
Address
Name
DOB

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9
Q

Transaction information that must be obtained for a cash purchase of a financial instrument between $3M and $10M.

STAND

A

Serial number of each of the instruments purchased; a
Type of instrument;
Amounts in dollars of each of the instruments purchased;
Name;
Date

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10
Q

Three types of Check Credit services

SOC

A

Special Draft System
Overdraft System
Cash Reserve System

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11
Q

4 items must be reported on a SAR when the suspect can be identified

A

DL#,
Address,
Phone,
SSN

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12
Q

OREO disposal/sale accounting methodologies

FICRD

A 
Full Accrual 
Installment
Cost Recovery
Reduced-Profit
Deposit
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13
Q

Types of Letters of Credit

TSCS

A

Travelers,
Sold for Cash,
Commercial,
Standby

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14
Q

Three fundamental dimensions of management

COP

A

Controlling
Organizing
Planning

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15
Q

Part 326 BSA requirements -

CTOT

A

controls
testing
officer
training

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16
Q

Guidelines exist relative to a BHC entering into new activities

WWCE

A 
All bank subsidiaries must be:
“well capitalized”, 
“well managed”, 
CRA Rating - Satisfactory, 
BHC must file with FRB an Election to become a FHC
17
Q

3 steps in the money laundering process -

PLI

A

Placement
layering
integration

18
Q

A record of each extension of credit in an amount in excess of $10M, except for extension of credit secured by RE, must contain

PLAND

A 
Purpose of loan
Loan amt
address of borrower
name of borrower
date of loan
19
Q

3 required elements of securities risk management process per the 1998 RM Guidance

PIS

A

PPL
policies, procedures, limits

IMR
identify, measure, report risk exposure

System of Internal controls

20
Q

7 factors to be considered for applications by Proposed or Newly Organized Institutions – FDI Act section 6

CHEMIC - P

A 
Capital Structure adequacy
History - financial and condition
Earnings prospects
Management characteristics
Insurance risk (risk to DIF)
Community being served
corporate Powers consistent with FDI Act?
21
Q

5 elements/requirements of Management Information Systems

CCART

A 
Consistency, 
Completeness, 
Accuracy, 
Relevance, 
Timeliness
22
Q

3 requirements for Chapter 13 Bankruptcy

RUS

A

Regular income,
Unsecured debt < $100M,
Secured debt < $350M

23
Q

5 required security devices per Part 326

PLATO

A 
Protecting assets such as vault, safe, 
Lighting system for illuminating, during hours of darkness, the area around the vault if the vault is visible from outside the banking office, 
Alarm system, 
Tamper-resistant locks, 
Other devices
24
Q

reasons why bank management can be held personally liable

BMFUN

when bank mgmt has too much FUN

A

Breach of trust

Misappropriation or conversion of the bank’s assets

Fraud

Ultra vires act, or acts in excess of their powers

Negligence which is the proximate cause of loss to the bank

25
Q

3 types of fixed asset insurance coverage

Bye-Bye Safe

A

Basic
Broad
Special

26
Q

Requirements within a broker deposit application waiver

FRUITS – PP

A

Financial Statement with BS and IS - recent consolidated

Rates, volume, and maturities of brokered deposits already held and internal limits

Undue risk - justification from bank that BDeps do not pose this

Information systems overseeing the solicitation of BD

Time period for which the waiver is requests

Solicitation procedures brokered deposits

Pricing strategy and comparison to other (lending and investment)

Policy for use in funding strategy

27
Q

Principal errors made in granting RE loans

CALI = RE

A

Capacity to repay

Amortization,

Limited demand area/property,

Inadequate regard to inflated/deflated realty values

28
Q

Risks affecting the marketability of assets

CORMS

A 
Compliance, 
Operating, 
Reputation, 
Market, 
Strategic
29
Q

Unsuitable investment activities.

GAWPERS

A 
Gains trading, 
Adjusted trading, 
When-Issued securities, 
Pair-offs, 
Extended settlement, 
Repositioning repurchase agreement
Short Sale
30
Q

Uniform IT Ratings components

MADS

A

Management
Audit
Development and Acquisition
Support and Delivery

31
Q

5 requirements for expedited application processing

CCCOW

A 
Composite 1/2
Compliance 1/2
CRA satisfactory
No Order
Well-cap
32
Q

Basic Elements of an Internal Control System

CeRaCaIcM

A 
Control Environment,
Risk assessment
Control Activities, 
Information and communication, 
Monitoring activities,
33
Q

The four main elements of an effective third-party risk management process

CORD

A

Contract structuring and review,
Oversight,
Risk assessment,
Due diligence and selecting a 3rd party

34
Q

These are Loan Problems

COST FILL PO(P)

A 
Competition, 
Overlending, 
Self-dealing, 
Technical incompetence,  
Failure to establish or enforce liquidation agreements, 
Incomplete credit info,
Lack of attention to changing Economic conditions, 
Lack of Supervision
Poor selection of risks, 
Overemphasis on loan income, 
(P)
35
Q

Types of investment risks

McLOLSI

A 
Market 
Credit, 
Liquidity
Operating
Legal
Settlement
Interconnection
36
Q

Restrictions for U, SU, CU capitalized banks 324.405a2

CAMPE

A

Capital distributions and mgmt fees
Asset growth restrictions - no bigger than avg assets in prior year
Monitoring - regulatory/FDIC monitoring required
Plan - capital plan submission w/in 45 days
Expansion needs prior approval - branch, subsidies, new business line

37
Q

Restrictions for CU Banks 324.405a4

MtAmBLES - PidC

A 
o Material transactions
o Accounting methods
o Bylaws / charter
o highly Leverage transactions - can't extend credit for these
o Excessive compensation or bonuses
o Sub debt interest (60 days after CU)

o Pay interest on deposits which would increase the bank’s COF significantly above prevailing market rates
o covered transactions

o FDIC can further restrict anything we want.

38
Q

Capital restoration plan must include (for U, SU, CU banks per Section 38e2 a)

SLOTH

A

o Steps the insured depository institution will take to become adequately capitalized
o Levels of capital to be attained during each year the plan will be in effect
o Other information as required
o Types and levels of activities in which the institution will engage; and
o How the institution will comply with the restrictions in effect under prompt corrective action

TE (9 decks)

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