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19098643243BORROWER-IN-CUSTODY (BIC) PROGRAMAPPLICATION00BORROWER-IN-CUSTODY (BIC) PROGRAMAPPLICATIONPart I: Institution InformationLegal Name of InstitutionABA NumberOrganizational ID Number(Articles of Incorporation filed with the state)Chartered/ Headquartered StatePrimary Regulator (Agency Name)OC-10 Contact (Person authorized to pledge collateral and/or borrow from the Discount Window)NameTitleEmail addressPhone NumberMailing addressBIC Contact, if different from OC-10 Contact (Person that handles day-to-day administration)NameTitleEmail addressPhone NumberMailing addressPart II: Pledge InformationIndicate the type(s) of loans being proposed for pledging:FRB Loan CategoryFFIEC Call Report CodesNCUA Call Report CodesFBO Call Report Codes?Agricultural Loans (705):31.g. & 2.g.8?Agricultural Loans secured by farmland (780):1.b.1.b. & 2.b., 111.b.?Commercial Leases (710):10.b.NA9.a.2?Commercial Loans (710):4. 4.a., 9. 9.a 9.b 9.b(1) 9.b(2), 2. 2.a.(1) 2.a.(2) 2.a. 2.b.1.h., 1.j., 1.i., 2.h., 2.j., 2.i., 132.a.(1), 2.a.(2), 2.b., 3., 4.a., 7., 8.2?Commercial Real Estate Loans (780):1.e.(2)1.e. & 2.e., 11, 121.e.?Construction Loans (790):1.a.(1) & 1.a.(2)1.a. & 2.a.1.a.?Consumer Leases— Auto, Marine (743):10.a.79.a.2?Consumer Loans—Secured Auto, Marine (741):6.c. & 6.d.5, 6, 882?Consumer Loans—Unsecured (740):6.b. and 6.d.482?Home Equity Loans or Lines (760):1.c.(1) & 1.c.(2)(b)101.c.(1), 1.c.(2)2?Mortgage 1-4 Family Loans (750):1.c.(2)(a)91.c.(2)?Multifamily 5+ Mortgage Loans (780):1.d.1.c., 2.c.1.d.?Municipalities Loans (550):8NA82?Owner Occupied CRE (780):1.e.(1)1.d. & 2.dNA?Raw Land Loans (791):1.a.(2)1.a. & 2.a., 111.a.?Student Loans (744):6.d.3NA?US / US Agency Guaranteed Loans (720):Gtd loan amounts1a. By loan category, provide approximate amounts: Number of Loans: Outstanding Balances:Indicate how the loans are evidenced (check ALL applicable)? Promissory Note? Syndicated Note? Electronic Agreement? Retail Installment Contract? Participation Agreement? Loan Agreement and/or Credit Agreement ? Other-Describe: Are any of the loan documents imaged, originated electronically, or through fax? ? Yes? NoIf yes, complete Imaging Questionnaire, found here () The Federal Reserve requires pledged loans to be identified by electronic annotation on the loan trial/accounting system. Would your institution be capable of meeting this requirement? ? Yes? NoIf yes, what are the code and/or field that will be utilized in the system?Code:________ Field_________If no, explain why: Are any of the proposed loans already pledged or encumbered? ? Yes? NoIf yes, provide further information: Is your institution a member of the Federal Home Loan Bank (FHLB)? ? Yes? NoIf yes, which FHLB and what collateral types are currently pledged? Is reporting in summary or detailed format?Is there any other entity that may have a lien on the loans and/or accounts at your institution? ? Yes? NoIf yes, which financial institution and what is being collateralized for this lien?Are any of the loans serviced by an affiliate or any other party? ? Yes? NoIf yes, provide the servicer name and attach the servicing agreement:If your institution is a foreign banking entity, will all the loans pledged be booked to this branch office?? Yes? No? N/AIf no, provide further information:Part III: Portfolio InformationAre any of the proposed pledged loans purchased or assumed? ? Yes? NoIf yes, describe/list any agreements/contracts in place ensuring transferability of the loans to your institution:Are any of the proposed pledged loans participation/ syndication, and/or dealer floor plan loans? ? Yes? NoIf yes, complete the attached Addendum. Do obligation (loan) numbers contain customer deposit account or social security numbers? ? Yes? NoHow does your institution monitor access and the removal of key documents from the area where loans are held?Describe the physical storage facility where the notes will be held. How will the collateral be protected against potential hazards?For commercial loans, has the current risk ratings been reviewed by your primary regulator? ? Yes? No ? N/AFor consumer loans, is credit quality monitored? ? Yes? No ? N/AAre there any restrictions in the proposed loan agreements limiting or restricting assignability, transfer, sale or pledging? ? Yes? NoIf yes, then explain:When was the latest review of your loan portfolio conducted by your primary regulatory, internal or external audit/third party consultant? (Include/Attach the results of the last review related to the proposed pledged collateral with any corrective action taken.)For indirect auto loans, is there an agreement in place between the dealer or originator and your institution? ? Yes? No ? N/AIf yes, attach a copy of the agreement. If no, describe why an agreement is not required: Part IV: Collateral ControlsWill the institution create procedures for the administration of the BIC program? ? Yes ? NoIf no, please explain: Explain the method by which loans will be monitored to ensure that matured, delinquent, or sold loans are removed from the collateral pool in a timely manner:How will your institution monitor collateral levels ensuring that the balance does not change by more than 10 percent between pledge reporting periods? Do you have procedures in place to ensure the safekeeping and ability to access loan documentation after a business continuity event? ? Yes ? NoHow does your institution ensure compliance with the latest Federal Reserve’s Collateral Guidelines: Acceptance Criteria for Individual Loans? Part V: AuthorizationI/WE HAVE READ THE ABOVE RESPONSES AND ATTEST THAT THE RESPONSES ARE ACCURATE. FURTHERMORE, I/WE ARE IN RECEIPT AND HAVE REVIEWED THE BORROWER-IN-CUSTODY GUIDELINES.*AUTHORIZED SIGNATUREDATE PRINT NAME PRINT TITLE*AUTHORIZED SIGNATUREDATE PRINT NAME PRINT TITLE*AS REQUIRED BY YOUR INSTITUTION’S BORROWING RESOLUTION (OPERATING CIRCULAR 10) ON FILE WITH THE FEDERAL RESERVE BANKPart VI: Submission of ApplicationReturn the completed application and necessary documents to: sf.crmcco@sf.Originals may be mailed to:CREDIT RISK MANAGEMENTFEDERAL RESERVE BANK OF SAN FRANCISCO101 MARKET STREET, MAILSTOP 830SAN FRANCISCO, CA 94105You will be notified of your eligibility approximately 30 business days after receipt of the complete and accurate application. Depending on the state, review of the search to reflect for UCC filings could take more than 30 days. In addition, if an Intercreditor Agreement is required, an approval may also take more than 30 days. An approval letter is subject to the terms and requirements outlined. This defines the conditions for pledging collateral and includes any additional agreements that need to be executed. For questions regarding the completion of this form and required documents, Discount Window, or Collateral Arrangements, contact the Credit Risk Management Department at (866) 974-7475.BIC APPLICATION ADDENDUM Section1: Participation or Syndication LoansAre these originated by the FI or purchased? Does FI have copies of the loan documents and an origination participation certificate/agreement to evidence its interest? If no, then explain:If FI originated these loans, does it have possession of the original loan documents and original participation agreement? If no, then explain:Are there any restrictions in the participation certificates/agreements that would limit or restrict assignability, transfer, sale or pledging? If yes, then explain:Are there further obligations to lend funds under these participations? If yes, then explain:Only the portion of a participation retained or purchased by the FI is eligible for pledging to the FRB. Explain how this is reported accurately on the pledge listing:Section 2: Dealer Floor PlansHas the institution, and/or its Board of Directors, adopted a written floor plan loan policy? If yes, then submit a copy of the policy. ................
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