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CM-5.1.1A

Where a bank seeks the CBB's prior approval as required under Paragraph CM-5.1.1, in its request, the bank must confirm that the employee credit facility is in line with the bank's board approved policy. The request must also confirm that the bank has made an internal assessment and evaluation when reaching the decision to grant the employee credit facility and that all necessary internal approvals have been obtained.

Added: April 2014