228 loan - An Overview
228 loan - An Overview
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For every census tract where the lender originated or acquired a little business enterprise loan or compact farm loan, the lender will have to report the mixture amount and dollar amount of compact enterprise loans and little farm loans:
When applying general performance tests and strategic designs pursuant to paragraph (a) of this area, and when determining whether or not to approve a strategic plan pursuant to § 228.
Throughout the term of the approach, a lender have to submit to the Board for acceptance an amendment to its plan if a fabric modify in circumstances:
The Board publishes on its public Internet site, not less than 30 times in advance of the start of each calendar quarter, an index of banks scheduled for CRA examinations for the subsequent two quarters.
The Board considers the use of a bank's deposit products and solutions conscious of the needs of small- and moderate-income individuals, families, or homes determined by the next data:
A lender topic to data reporting demands pursuant to § 228.42 have to include in its public file a composed see that the CRA Disclosure Assertion pertaining towards the financial institution, its functions subsidiaries, and its other affiliates, if relevant, could be attained on the FFIEC's website at:
For those who have questions for your Company that issued The present doc make sure you contact the agency directly.
If an intermediate financial institution opts to be evaluated pursuant to the Group Growth Funding Test in § 228.24, the Board evaluates the intermediate lender for the analysis time period previous the lender's up coming CRA evaluation pursuant towards the Neighborhood Development Financing Examination in § 228.24 and carries on evaluations pursuant to this performance examination for subsequent analysis durations till the financial institution opts out.
(B) The Board establishes that analysis beneath the approach would not provide a more significant reflection from the bank's history of assisting to meet up with the credit rating requires of your lender's Local community;
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(A) A duplicate of the general public area from the financial institution's most recent CRA performance evaluation and an index of companies furnished by the department; and
(three) The amount of lenders whose residence house loan loans, multifamily loans, modest company loans, and little farm loans and deposits info are utilised to ascertain the applicable Retail Lending Quantity Threshold, geographic distribution market benchmarks, and borrower distribution current market benchmarks;
A big lender along with a limited reason financial institution that would be a significant bank depending on the asset dimension explained from the definition of a big lender have to click here gather and report back to the Board yearly by April one a list of Just about every facility-primarily based evaluation location demonstrating the States, MSAs, and counties in the facility-dependent assessment space, as of December 31 in the prior calendar calendar year or the last date the ability-based assessment area was in influence, supplied the ability-dependent evaluation area was delineated for at least six months of your prior calendar yr.
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