FDIC Expands its MERIT
FDIC Expands its MERIT
The Federal Deposit Insurance Corporation announced that it has broadened eligibility for the streamlined examination program called Maximum Efficiency, Risk-Focused, Institution Targeted Examinations (MERIT). Well-rated insured banks with total assets of $1 billion or less are now eligible for the program. Previously, it was limited to well-rated banks with total assets of $250 million or less.
To qualify for the program, depository institutions must have composite ratings of "1" or "2", stable management and effective loan-grading systems. Those institutions that meet the programs criteria are eligible for streamlined examinations.
Copyright © 2004 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 14, No. 1, 3/05
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