Initial Currency Rate Percentage Law and Legal Definition

According to 13 CFR 120.420 [Title 13 Business Credit and Assistance; Chapter I Small Business Administration; Part 120 Business Loans; Subpart D Lenders; Participating Lender Financings], Initial Currency Rate Percentage (ICRP) measures the relationship between a securitizer's Initial Currency Rate and the SBA 7(a) loan portfolio Currency Rate at the time of the first securitization after April 12, 1999. The ICRP is calculated by dividing the securitizer's Currency Rate by the SBA 7(a) loan portfolio Currency Rate. SBA will calculate the securitizer's ICRP as of the end of the calendar quarter immediately prior to the first securitization completed after April 12, 1999.