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C » Topics » Certain Western European businesses have exceptions to these charge-off policies due to the local environment in which these businesses operate.

This excerpt taken from the C 8-K filed Sep 9, 2005.

Certain Western European businesses have exceptions to these charge-off policies due to the local environment in which these businesses operate.

 

Unsecured loans in bankruptcy are charged-off within 30 days of notification of filing by the bankruptcy court or within the contractual write-off periods, whichever occurs earlier.  In the North American Consumer Finance business, unsecured loans in bankruptcy are charged-off when they are 30 days contractually past due.

 

Commercial Business, which is included within Retail Banking, includes loans and leases made principally to small- and middle-market businesses.  Commercial Business loans are placed on a non-accrual basis when it is determined that the payment of interest or principal is doubtful of collection or when interest or principal is past due for 90 days or more, except when the loan is well-secured and in the process of collection.

 

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This excerpt taken from the C 8-K filed Jun 7, 2005.

Certain Western European businesses have exceptions to these charge-off policies due to the local environment in which these businesses operate.

 

Unsecured loans in bankruptcy are charged-off within 30 days of notification of filing by the bankruptcy court or within the contractual write-off periods, whichever occurs earlier.  In the North American Consumer Finance business, unsecured loans in bankruptcy are charged-off when they are 30 days contractually past due.

 

Commercial Business, which is included within Retail Banking, includes loans and leases made principally to small- and middle-market businesses.  Commercial Business loans are placed on a non-accrual basis when it is determined that the payment of interest or principal is doubtful of collection or when interest or principal is past due for 90 days or more, except when the loan is well-secured and in the process of collection.

 

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EXCERPTS ON THIS PAGE:

8-K
Sep 9, 2005
8-K
Jun 7, 2005

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