Economic downturn conditions

Economic downturn conditions means, with respect to an exposure held by the Enterprise, those conditions in which the aggregate default rates for that exposure's exposure subcategory (or subdivision of such subcategory selected by the Enterprise) in the exposure's jurisdiction (or subdivision of such jurisdiction selected by the Enterprise) are significantly higher than average.

Source

12 CFR § 1240.101

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Scoping language

Terms that are set forth in 1240.2 and used in this subpart have the definitions assigned thereto in 1240.2.

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