Occ Floor Plan Loans

Agencies issue two final rules.

Occ floor plan loans.

Occ releases bank supervision operating plan for fiscal year 2021. This revised booklet updates and replaces the floor plan loans booklet issued in march 1990 and examination procedures issued in may 1998. The booklet also replaces section 216 floor plan and indirect lending issued in january 1994 as part of the former office of thrift. Floor plan lending is a form of inventory financing for a dealer of consumer or commercial goods in which each loan advance is made against a specific piece of collateral.

Meeting the credit needs of creditworthy small business borrowers occ 2010 6 february 2010 interagency statement. Financing minority businesses al 2003 8 october 2003 covers how banks can satisfy the financing needs of minority business entrepreneurs while maintaining safe and sound banking practices. Occ bulletin 2015 39 announced the occ is issuing the floor plan lending booklet of the comptroller s handbook. The office of the comptroller of the currency s occ comptroller s handbook is prepared for use by occ examiners in connection with their examination and supervision of national banks federal savings associations and federal branches and federal agencies of foreign banking organizations collectively banks.

News release oct 01 2020. Items commonly financed through a floor plan facility are automobiles trucks recreational vehicles boats construction equipment agricultural equipment manufactured homes. Each bank is different and may present specific issues. This booklet addresses the risks associated with floor plan lending and discusses risk management practices for floor plan lending.

This booklet applies to the occ s supervision of national banks and federal savings associations. For example automobile dealerships utilize floor plan financing to run their businesses. Occ releases cra evaluations for 12 national banks and federal savings associations. Floor planning is a form of financing for large ticket items displayed on showroom floors.

Floor plan lending january 2017 provides an overview of the floor plan lending business associated risks and sound risk management practices.