Description
Policy for ongoing portfolio oversight. Covers: staffing and skills requirements; minimum annual monitoring and review; verification that security and insurance are current; quarterly classification as Satisfactory, Watch List or Non-Performing; non-performing definition (principal more than 90 days in arrears or an event of default); actions for watch list loans; quarterly board reporting; reinstatement criteria; renewal eligibility; and monitoring of economic, community, industry and legislative risk affecting the portfolio.
