An institution offers 1-year demand note lines of credit to commercial customers. These notes act the same a regular line of credit, but do not have a listed maturity date on the note and the institution can call them at anytime.
On the core system, it still lists the maturity date as a year past origination for record keeping. Following one year past origination the institution can call the note, OR "reaffirm" the note. The reaffirmation includes a credit review and the issuance of a new note to the borrower, again with no listed maturity date.
On the internal system the maturity date is moved back another year.
So my question:
These "Reaffirmations", even though there is no listed maturity date on the note, seem a lot like a renewal and extension of credit to the borrower.
Can the CRA officer call these "reaffirmations" a loan renewal/extension for CRA credit?