Banking audit. Credit lines, entity, audit (most important)

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Banking audit. Credit lines, entity, audit (most important)

Lecture notes, cheat sheets

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30. Credit lines, entity, audit

Bank customers often apply for a line of credit, which sets a large non-revolving limit that can be used over a certain period. A separate loan agreement is concluded for each tranche within the credit line, but only one loan account is opened. This allows you to save time associated with the consideration and collection of documents. The amount of the security provided must cover the maximum amount of the tranche within the limit.

Types of credit lines:

1) Renewable (revolving) is opened for regular financial and business operations for up to 1 year.

2) Non-renewable - loans are issued within the established limit, but the repaid part of the loan does not increase the free lending limit.

3) Framework - opens for payment of individual deliveries under one contract, implemented within one period.

According to the regulation of the Central Bank of the Russian Federation No. 54 of August 31, 08, the opening of a commercial bank for borrowers of revolving credit lines is not allowed. The formalization of the opening of credit lines is carried out in the same manner as one-time loans. This implies the identity of the audit procedures for checking the completeness and quality of the documentation submitted by the borrower for processing a loan, the authorization of a loan, depending on the setting of a lending limit for the borrower and assessing the financial condition of the borrower. The correctness of the application in practice of the intra-bank provision for lending to the borrower in the form of opening credit lines is also checked. Peculiarities of the audit of open credit lines consist in the special control over the issuance of each loan amount so that no overlimit is allowed and the term of the credit line is observed. The auditor also checks the correctness of the reflection of credit lines off the balance sheet, since the amount of unused credit lines increases the obligations of commercial banks and is involved in the calculation of economic standards.

Author: Shevchuk D.A.

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