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Agencies Implement Voluntary Standardized Request for Electronic Loan Information

 

March 25 - In 2002, the federal bank supervisory agencies and the Conference of State Bank Supervisors implemented a voluntary standardized request for electronic loan information used during safety and soundness examinations. For financial institutions that participate in this process, the agencies are increasing the required number of loan data fields from five to 30 to facilitate greater consistency in the data submission process. Many financial institutions already provide the data for most of these fields with current submissions.

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