Our policy (which we are revising) states: "Covered transactions will be material if book or fair market value, whichever is less, exceeds $10,000 (for a bank with total assets less than $750 million).
We are now over $750 million in assets, so the question is whether the $10,000 number changes. I have checked Reg W but so far have not found anything that addresses this. Is the above driven by reg or by some other source? Any ideas? Thanks.