Application Assessment. When assessing the repayment ability of consumers the creditors should : (i) Assess the completeness of the financial information submitted by the consumer, and (ii) critically assess the reasonableness of the data presented in the financial information submitted by the consumer. (i) The credit analysts have the responsibility of performing a thorough assessment of the financial situation of the consumer and to clearly justify their proposal to approve or decline the application for granting credit. (ii) The credit analysts and the credit approving authorities must take into account the creditor’s credit policy, the creditor’s risk appetite, concentration limits and risk diversification efforts, as well as the relevant directives and circulars issued by the Central Bank. (iii) The credit analysts and the credit approving authorities, when assessing a credit application must:
Appears in 2 contracts
Sources: Credit Agreement, Credit Agreement