Community Reinvestment Act; Supplemental Rule
Interim final rule; technical amendments; correction.
CFR Part: "12 CFR Parts 24, 25, 35, and 192"; "12 CFR Parts 207 and 228"; "12 CFR Parts 345 and 346"
RIN Number: "RIN 1557-AF26"; "RIN 7100-AG75"; "RIN 3064-AG03"
Citation: "89 FR 22060"
Document Number: "Docket ID OCC-2022-0002"; "Regulation BB; Docket No. R-1830"
Page Number: "22060"
"Rules and Regulations"
Agency: "
SUMMARY:
DATES:
Effective date: This rule (including interim final rule and technical amendments) is effective on
Comment due date: Comments on the interim final rule (regarding the applicability date for [Sec.]
ADDRESSES:
Comments should be directed to:
OCC: Commenters are encouraged to submit comments through the Federal eRulemaking Portal. Please use the title "Community Reinvestment Act; Supplemental Rule" to facilitate the organization and distribution of the comments. You may submit comments by any of the following methods:
* Federal eRulemaking Portal--Regulations.gov: Go to https://regulations.gov/. Enter "Docket ID OCC-2022-0002" in the search box and click "Search." Public comments can be submitted via the "Comment" box below the displayed document information or by clicking on the document title and then clicking the "Comment" box on the top-left side of the screen. For help with submitting effective comments, please click on "Commenter's Checklist." For assistance with the Regulations.gov site, please call (866) 498-2945 (toll free) Monday-Friday,
* Mail: Chief Counsel's Office, Attention: Comment Processing,
* Hand Delivery/Courier:
Instructions: You must include "OCC" as the agency name and "Docket ID OCC-2022-0002" in your comment. In general, the OCC will enter all comments received into the docket and publish the comments on the Regulations.gov website without change, including any business or personal information provided such as name and address information, email addresses, or phone numbers. Comments received, including attachments and other supporting materials, are part of the public record and subject to public disclosure. Do not include any information in your comment or supporting materials that you consider confidential or inappropriate for public disclosure.
You may review comments and other related materials that pertain to this action by the following method:
* Viewing Comments Electronically--Regulations.gov: Go to https://regulations.gov/. Enter "Docket ID OCC-2022-0002" in the search box and click "Search." Click on the "Documents" tab and then the document's title. After clicking the document's title, click the "Browse Comments" tab. Comments can be viewed and filtered by clicking on the "Sort By" drop-down on the right side of the screen or the "Refine Results" option on the left side of the screen. Supporting materials can be viewed by clicking on the "Documents" tab and filtered by clicking on the "Sort By" drop-down on the right side of the screen or the "Refine Documents Results" option on the left side of the screen. For assistance with the Regulations.gov site, please call (866) 498-2945 (toll free) Monday-Friday, during Federal business weekdays,
The docket may be viewed after the close of the comment period in the same manner as during the comment period.
Board: You may submit comments, identified by Docket No. R-1830 and RIN 7100-AG75, by any of the following methods:
* Agency Website:https://www.federalreserve.gov. Follow the instructions for submitting comments at https://www.federalreserve.gov/generalinfo/foia/ProposedRegs.cfm.
* Email:[email protected]. Include docket and RIN numbers in the subject line of the message.
* Fax: (202) 452-3819 or (202) 452-3102.
* Mail:
Instructions: All public comments are available from the Board's website at https://www.federalreserve.gov/generalinfo/foia/ProposedRegs.cfm as submitted. Accordingly, comments will not be edited to remove any identifying or contact information. Public comments may also be viewed electronically or in paper in Room M-4365A,
* Agency Website:https://www.fdic.gov/resources/regulations/federal-register-publications/. Follow instructions for submitting comments on the agency website.
* Email:[email protected]. Include RIN 3064-AG03 on the subject line of the message.
* Mail:
* Hand Delivery/Courier: Comments may be hand-delivered to the guard station at the rear of the
Public Inspection: Comments received, including any personal information provided, may be posted without change to https://www.fdic.gov/resources/regulations/federal-register-publications/. Commenters should submit only information that the commenter wishes to make available publicly. The
FOR FURTHER INFORMATION CONTACT:
OCC:
Board:
SUPPLEMENTARY INFORMATION:
I. Introduction The CRA /1/ requires the agencies to assess a bank's /2/ record of meeting the credit needs of its entire community, including low- and moderate-income neighborhoods, consistent with the bank's safe and sound operation. Upon completing this assessment, the statute requires the agencies to "prepare a written evaluation of the institution's record of meeting the credit needs of its entire community, including low- and moderate-income neighborhoods." /3/ The statute further provides that each agency must consider a bank's CRA performance "in its evaluation of an application for a deposit facility by such institution." /4/ The agencies implement the CRA and establish the framework and criteria by which the agencies assess a bank's performance through their individual CRA regulations. /5/
FOOTNOTE 1 12 U.S.C.
FOOTNOTE 2 For purposes of this SUPPLEMENTARY INFORMATION, the term "bank" includes insured national and State banks, Federal and State savings associations, Federal branches as defined in 12 CFR part 28, insured State branches as defined in 12 CFR 345.11(c), and State member banks as defined in 12 CFR part 208, except as provided in 12 CFR __.11(c). See also note 5. END FOOTNOTE
FOOTNOTE 3 12 U.S.C. 2906(a). END FOOTNOTE
FOOTNOTE 4 12 U.S.C. 2903(a)(2). END FOOTNOTE
FOOTNOTE 5 See 12 CFR parts 25 (OCC), 228 (Regulation BB) (Board), and 345 (FDIC). For clarity and to streamline references, citations to the agencies' common CRA regulations are provided in the following format: 12 CFR __.xx. For example, references to 12 CFR 25.16 (OCC), 228.16 (Board), and 345.16 (FDIC) are streamlined as follows: "12 CFR __.16." END FOOTNOTE
On
FOOTNOTE 6 89 FR 6574 (
As described in more detail below, this supplemental rulemaking includes two parts. First, the agencies are issuing an interim final rule to extend the applicability date of the facility-based assessment areas provision and the public file provision in the 2023 CRA Final Rule ([Sec.]
Second, the agencies are issuing a final rule that makes technical amendments to those amendments adopted in the 2023 CRA Final Rule and related regulations. These technical amendments do not change the substance or meaning of the 2023 CRA Final Rule. As discussed in more detail in this SUPPLEMENTARY INFORMATION, the technical amendments to the 2023 CRA Final Rule are as follows:
* The agencies are jointly (1) amending the transition provision (
* The Board and the
* The Board is making a technical amendment to its authority section in
Further, the agencies are making technical amendments to their regulations implementing the CRA sunshine requirements of the Federal Deposit Insurance Act /7/ (CRA Sunshine regulations) (12 CFR parts 35 (OCC), 207 (Regulation G) (Board), and 346 (FDIC)) and the OCC is making technical amendments to its community and economic development entities, community development projects, and other public welfare investments regulation (
FOOTNOTE 7 Codified at 12 U.S.C. 1831y. END FOOTNOTE
Finally, this document corrects language in the preamble of the
FOOTNOTE 8 2 U.S.C.
II. Interim Final Rule
As described below, the agencies are issuing an interim final rule to extend the applicability date of the facility-based assessment areas provision and the public file provision in the 2023 CRA Final Rule ([Sec.]
Facility-based assessment areas (Section __.16). Section __.16 of the 2023 CRA Final Rule provides that a bank must delineate one or more facility-based assessment areas within which the agencies evaluate the bank's record of helping to meet the credit needs of its entire community. This section prescribes the types of deposit-taking facilities that trigger the requirement to delineate a facility-based assessment area, the geographic requirements of a facility-based assessment area, and other limitations on the delineation of facility-based assessment areas. For example,
FOOTNOTE 9 Section __.16(c) provides that facility-based assessment areas may not reflect illegal discrimination and may not arbitrarily exclude low- or moderate-income census tracts. See
As published in the
Specifically, the agencies recognize that
FOOTNOTE 10 See SEC __.51(a)(2)(i) (listing the provisions of the 2023 CRA Final Rule that apply as of
FOOTNOTE 11 See SEC __.51(a). END FOOTNOTE
FOOTNOTE 12 See SEC 25.12(u) of appendix G to 12 CFR part 25 (OCC);
FOOTNOTE 13 See [Sec.]
FOOTNOTE 14 See SEC __.16(b)(2). END FOOTNOTE
FOOTNOTE 15 See SEC __.16(b)(3). END FOOTNOTE
On further consideration, the agencies are aligning the applicability date of
FOOTNOTE 16 See SEC __.22 (Retail lending test),
FOOTNOTE 17 See SEC __.17 (Retail lending assessment areas),
Content and availability of public file (Section __.43). Section __.43 of the 2023 CRA Final Rule requires a bank to maintain a public file, in either paper or digital format, that includes specific information related to the bank's branches, services, and performance in helping meet community credit needs. Section __.51(a) of the 2023 CRA Final Rule provides that the public file provision in
As detailed in the 2023 CRA Final Rule,
FOOTNOTE 18 See 12 CFR __.43 of the agencies' legacy CRA regulations. END FOOTNOTE
FOOTNOTE 19 See 89 FR 6574, 7082-7085 (
FOOTNOTE 20 See 12 CFR __.43(c)(1) of the agencies' legacy CRA regulations. END FOOTNOTE
FOOTNOTE 21 See SEC __.43(c)(1). END FOOTNOTE
FOOTNOTE 22 See SEC __.43(c)(2). END FOOTNOTE
As with
FOOTNOTE 23 See SEC __.51(a)(2)(i) (listing the provisions of the 2023 CRA Final Rule that apply as of
FOOTNOTE 24 See SEC __.43(a)(6) and (c)(2)(ii)(B). END FOOTNOTE
FOOTNOTE 25 See SEC __.43(a)(6). END FOOTNOTE
FOOTNOTE 26 See SEC __.43(b)(1) and (b)(2)(i). END FOOTNOTE
FOOTNOTE 27 See SEC __.43(b)(2)(ii). END FOOTNOTE
FOOTNOTE 28 See SEC __.43(b)(3). END FOOTNOTE
In addition, aligning the applicability date of
FOOTNOTE 29 See SEC __.12(u) of the agencies' legacy CRA regulations; see also 88 FR 87895 (
FOOTNOTE 30 See SEC __.43(b)(1)(i) of the agencies' legacy CRA regulations. END FOOTNOTE
FOOTNOTE 31 See 89 FR 6574, 7084 (
FOOTNOTE 32 See SEC __.51(a)(2)(i). END FOOTNOTE
In the preamble to the 2023 CRA Final Rule, the agencies noted their commitment to engage with stakeholders in the implementation process and ensure that all stakeholders understand the regulatory requirements. /33/ Consistent with this commitment, the agencies have determined that extending the applicability date of [Sec.]
FOOTNOTE 33 See 89 FR 6574, 7093 (
Although these amendments take effect on
III. Technical Amendments
The agencies are issuing a final rule that makes technical amendments to the 2023 CRA Final Rule and related regulations, as described below. These technical amendments do not change the substance or meaning of the 2023 CRA Final Rule.
Public notice (Section __.44). The agencies are amending the 2023 CRA Final Rule to clarify the agencies' intention that banks may continue to use the CRA Notice in the agencies' legacy CRA regulations until
FOOTNOTE 34 See appendix G to 12 CFR part 25 (appendix B) (OCC); appendix G to 12 CFR part 228 (appendix B) (Board); and appendix G to 12 CFR part 345 (appendix B) (FDIC). END FOOTNOTE
Section __.51(a) of the 2023 CRA Final Rule provides that the public notice requirements in
FOOTNOTE 35 See SEC __.51(a)(2)(iii) (cross-referencing
The agencies are amending
Asset-size thresholds. As noted, appendix G of the 2023 CRA Final Rule includes the agencies' legacy CRA regulations, and reflects those regulations as of the date the agencies adopted the 2023 CRA Final Rule,
FOOTNOTE 36 See [Sec.]
FOOTNOTE 37 88 FR 87895 (
Agency-specific technical amendments. The agencies are adopting a technical amendment to the agency-specific amendments in the 2023 CRA Final Rule to add a missing conforming amendment in their strategic plan provisions,
CRA Sunshine regulations and
FOOTNOTE 38 See 12 CFR parts 35 (OCC), 207 (Regulation G) (Board), and 346 (FDIC). END FOOTNOTE
FOOTNOTE 39 See 89 FR 6574, 6579 (
FOOTNOTE 40 See 66 FR 2052 (
In addition, the OCC is amending its
FOOTNOTE 41 The Board's public welfare investment regulations do not cite to its CRA regulations, and thus do not need to be amended. See 12 CFR 208.22. The
The conforming amendments to the agencies' CRA Sunshine regulations and the
Technical amendment to 12 CFR part 192. The OCC regulations governing how a savings association may convert from mutual to stock form of ownership, 12 CFR part 192, currently include a cross-reference to the OCC's former CRA regulation for savings associations, 12 CFR part 195. The OCC integrated its CRA regulation for savings associations into 12 CFR part 25 and repealed part 195 in 2021. /42/ The OCC is updating this cross-reference, contained in 12 CFR 192.200(c), to now refer to 12 CFR part 25.
FOOTNOTE 42 See 86 FR 71328 (
IV. Regulatory Analysis
Administrative Procedure Act
The interim final rule and technical amendments are effective on
FOOTNOTE 43 5 U.S.C.
FOOTNOTE 44 See 5 U.S.C. 553(b)(A) and (B). END FOOTNOTE
FOOTNOTE 45 5 U.S.C. 553(b)(B). END FOOTNOTE
In addition, the APA requires that rules be published not less than 30 days before their effective date. /46/ However, the APA provides that the requirement for a 30-day delay before the effective date of a rule does not apply: (1) for substantive rules which grant or recognize an exemption or relieve a restriction; (2) for interpretative rules and statements of policy; or (3) as otherwise provided by the agency "for good cause found and published with the rule." /47/
FOOTNOTE 46 See 5 U.S.C. 553(d). END FOOTNOTE
FOOTNOTE 47 5 U.S.C. 553(d)(1)-(3). END FOOTNOTE
As described below, the agencies have determined that there is good cause for adopting the amendments in the interim final rule without advance notice and comment and with less than 30 days before its effective date, and for adopting the technical amendments as a final rule without notice and comment and with less than 30 days before its effective date.
Interim final rule. The agencies have determined that advance public comment on the amendment to extend the applicability date of
FOOTNOTE 48 See 89 FR 6728-6735 (
FOOTNOTE 49 See 89 FR 7082-7085 (
For the reasons stated above, the agencies also find good cause for this amendment to be effective less than 30 days after publication in the
FOOTNOTE 50 See 5 U.S.C. 553(d)(1) and (3). END FOOTNOTE
While the agencies believe that there is good cause to issue this interim final rule without advance notice and comment and with an effective date of
Technical amendments. As explained further in the SUPPLEMENTARY INFORMATION of this preamble, the amendment to add
FOOTNOTE 51 See appendix B to the agencies' legacy CRA regulations in appendix G of the 2023 CRA Final Rule. END FOOTNOTE
The technical amendments to the bank asset-size thresholds in the Board's and the
FOOTNOTE 52 See 88 FR 87895 (
The technical amendments that update cross-references in the agencies' CRA Sunshine regulations and the
Congressional Review Act
For purposes of the Congressional Review Act, /53/ the
FOOTNOTE 53 5 U.S.C.
FOOTNOTE 54 See 5 U.S.C. 804(2). END FOOTNOTE
FOOTNOTE 55 See 5 U.S.C. 801(a)(1). END FOOTNOTE
Paperwork Reduction Act
The Paperwork Reduction Act of 1995 /56/ states that no agency may conduct or sponsor, nor is the respondent required to respond to, an information collection unless it displays a currently valid OMB control number. The agencies have determined that the interim final rule and technical amendments do not create any new, or revise any existing, collections of information pursuant to the Paperwork Reduction Act.
FOOTNOTE 56 44 U.S.C. 3501-3521. END FOOTNOTE
Regulatory Flexibility Act
Under the Regulatory Flexibility Act (RFA), /57/ an agency must consider the impact of its rules on small entities. Specifically, section 3 of the RFA requires an agency to provide a final regulatory flexibility analysis with a final rule unless the head of the agency certifies that the rule will not have a significant economic impact on a substantial number of small entities /58/ and publishes this certification and a statement of its factual basis in the
FOOTNOTE 57 5 U.S.C.
FOOTNOTE 58
FOOTNOTE 59 See 5 U.S.C. 603 and 604. END FOOTNOTE
Pursuant to section 302(a) of the
FOOTNOTE 60 12 U.S.C. 4802(a). END FOOTNOTE
Section 302(b) of RCDRIA /61/ provides that new regulations and amendments to regulations prescribed by a Federal banking agency which impose additional reporting, disclosures, or other new requirements on insured depository institutions must generally take effect on the first day of a calendar quarter which begins on or after the date on which the regulations are published in final form.
FOOTNOTE 61 12 U.S.C. 4802(b). END FOOTNOTE
The interim final rule and technical amendments do not impose any additional reporting, disclosure, or other new requirements. Instead, the interim final rule extends the applicability date of the 2023 CRA Final Rule's facility-based assessment areas provision and public file provision, while the technical amendments make non-substantive changes to the agencies' CRA regulations, the agencies' CRA Sunshine regulations, the
Plain Language
Section 722(a) of the Gramm-Leach-Bliley Act /62/ requires each Federal banking agency to use plain language in its proposed and final rulemakings. In this document, the agencies use plain language.
FOOTNOTE 62 12 U.S.C. 4809(a). END FOOTNOTE
Unfunded Mandates Reform Act
As a general matter, the UMRA /63/ requires the OCC to prepare a budgetary impact statement before promulgating a rule that includes a Federal mandate that may result in the expenditure by State, local, and tribal governments, in the aggregate, or by the private sector, of
FOOTNOTE 63 2 U.S.C.
FOOTNOTE 64 See 2 U.S.C. 1532(a). END FOOTNOTE
V. Federal Register Correction
The OCC is making a correction to its UMRA discussion in the preamble to the 2023 CRA Final Rule (RIN 1557-AF15). This correction clarifies the OCC's expenditure estimates in consideration of the 2023 CRA Final Rule transition provisions.
Correction
In rule document 2023-25797 at 89 FR 6574 in the issue of
Were the final rule to require full compliance within the first 12 months of the transition period, the OCC estimates that expenditures to comply with mandates during those twelve months would not exceed approximately
*****
1644 Several commenters addressed the OCC's UMRA analysis of the proposed rule. Some of these commenters stated that the agency underestimated burden of the proposed rule, and others noted that the OCC provided insufficient information about its actual calculations. In drafting the final rule, the OCC considered these comments and made changes from the proposal where appropriate.
List of Subjects
12 CFR Part 24
Community development, Credit, Investments, Low and moderate income housing, Manpower, National banks, Reporting and recordkeeping requirements, Rural areas, Small businesses.
12 CFR Part 25
Community development, Credit, Investments, National banks, Reporting and recordkeeping requirements, Savings associations.
12 CFR Part 35
Community development, Credit, Freedom of information, Investments, National banks, Reporting and recordkeeping requirements.
12 CFR Part 192
Reporting and recordkeeping requirements, Savings associations, Securities.
12 CFR Part 207
Banks, Banking, Community development, Holding companies, Reporting and recordkeeping requirements.
12 CFR Part 228
Banks, Banking, Community development, Credit, Investments, Reporting and recordkeeping requirements.
12 CFR Part 345
Banks, Banking, Community development, Credit, Investments, Reporting and recordkeeping requirements.
12 CFR Part 346
Banks, Banking, Savings associations.
DEPARTMENT OF THE
12 CFR Chapter I
Authority and Issuance For the reasons set forth in the preamble and under the authority of 12 U.S.C. 93a and 2905, the
PART 24--COMMUNITY AND ECONOMIC DEVELOPMENT ENTITIES, COMMUNITY DEVELOPMENT PROJECTS, AND OTHER PUBLIC WELFARE INVESTMENTS
1. The authority citation for part 24 is revised to read as follows:
Authority:12 U.S.C. 24(Eleventh), 93a, 481, and 1818.
2. Amend
a. In the introductory text of paragraph (c), removing "12 CFR 25.23" and adding "
b. In paragraph (f), removing "12 CFR 25.12(m)" and adding "
3. Amend
4. Amend
PART 25--COMMUNITY REINVESTMENT ACT AND INTERSTATE DEPOSIT PRODUCTION REGULATIONS
5. The authority citation for part 25 continues to read as follows:
Authority:12 U.S.C. 21, 22, 26, 27, 30, 36, 93a, 161, 215, 215a, 481, 1462a, 1463, 1464, 1814, 1816, 1828(c), 1835a, 2901 through 2908, 3101 through 3111, and 5412(b)(2)(B).
6. Amend
7. Amend
PART 35--DISCLOSURE AND REPORTING OF CRA-RELATED AGREEMENTS
8. The authority citation for part 35 continues to read as follows:
Authority:12 U.S.C. 1, 93a, 1462a, 1463, 1464, 1831y, and 5412(b)(2)(B).
9. Amend
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(c) Relation to Community Reinvestment Act. This part does not affect in any way the Community Reinvestment Act of 1977 (CRA) (12 U.S.C.
*****
10. Amend
(a) * * *
(2) Activities given favorable CRA consideration. Performing any of the following activities if the activity is of the type that is likely to receive favorable consideration by a Federal banking agency in evaluating the performance under the CRA of the insured depository institution that is a party to the agreement or an affiliate of a party to the agreement--
(i) Home-purchase, home-improvement, small business, small farm, community development, and consumer lending, as described in
(ii) Making investments, deposits, or grants, or acquiring membership shares, that have as their primary purpose community development, as described in
(iii) Delivering retail banking services, as described in
(iv) Providing community development services, as described in
(v) In the case of a wholesale or limited-purpose insured depository institution, community development lending, including originating and purchasing loans and making loan commitments and letters of credit, making qualified investments, or providing community development services, as described in
(vi) In the case of a small insured depository institution, any lending or other activity described in
(vii) In the case of an insured depository institution that is evaluated on the basis of a strategic plan, any element of the strategic plan, as described in
*****
11. Amend
12. Amend
PART 192--CONVERSIONS FROM MUTUAL TO STOCK FORM
13. The authority citation for part 192 continues to read as follows:
Authority:12 U.S.C. 1462a, 1463, 1464, 1467a,
14. Amend
FEDERAL RESERVE SYSTEM
12 CFR Chapter II
Authority and Issuance
For the reasons discussed in the preamble, the
PART 207--DISCLOSURE AND REPORTING OF CRA-RELATED AGREEMENTS (REGULATION G)
15. The authority citation for part 207 continues to read as follows:
Authority:12 U.S.C. 1831y.
16. Amend
(a) * * *
(2) Activities given favorable CRA consideration. Performing any of the following activities if the activity is of the type that is likely to receive favorable consideration by a Federal banking agency in evaluating the performance under the CRA of the insured depository institution that is a party to the agreement or an affiliate of a party to the agreement--
(i) Home-purchase, home-improvement, small business, small farm, community development, and consumer lending, as described in
(ii) Making investments, deposits, or grants, or acquiring membership shares, that have as their primary purpose community development, as described in
(iii) Delivering retail banking services, as described in
(iv) Providing community development services, as described in
(v) In the case of a wholesale or limited-purpose insured depository institution, community development lending, including originating and purchasing loans and making loan commitments and letters of credit, making qualified investments, or providing community development services, as described in
(vi) In the case of a small insured depository institution, any lending or other activity described in
(vii) In the case of an insured depository institution that is evaluated on the basis of a strategic plan, any element of the strategic plan, as described in
*****
17. Amend
18. Amend
PART 228--COMMUNITY REINVESTMENT (REGULATION BB)
19. The authority citation for part 228 continues to read as follows:
Authority: 12 U.S.C. 321, 325, 1828(c), 1842, 1843, 1844, and
20. Amend
21. Amend
22. Amend
Appendix B to Part 228 [Amended]
23. Amend appendix B in paragraphs III.c.1 and 2 by removing the text "12 CFR 25.42(b), 228.42(b), or 345.42(b)" and adding the text "
24. Amend appendix G by revising
Appendix G to Part 228--Community Reinvestment Act (Regulation BB)
*****
*****
(u) * * *
(1) Definition. Small bank means a bank that, as of
*****
12 CFR Chapter III
Authority and Issuance
For the reasons discussed in the preamble, the
PART 345--COMMUNITY REINVESTMENT
25. The authority citation for part 345 continues to read as follows:
Authority:12 U.S.C. 1814-1817, 1819-1820, 1828, 1831u and 2901-2908, 3103-3104, and 3108(a).
26. Amend
27. Amend
Appendix B to Part 345 [Amended]
28. Amend appendix B in paragraphs III.c.1 and 2 by removing "12 CFR 25.42(b), 228.42(b), or 345.42(b)" and adding "
29. Amend appendix G by revising
Appendix G to Part 345--Community Reinvestment Regulations
*****
*****
(u) * * *
(1) Definition. Small bank means a bank that, as of
*****
PART 346--DISCLOSURE AND REPORTING OF CRA-RELATED AGREEMENTS
30. The authority citation for part 346 continues to read as follows:
Authority: 12 U.S.C. 1831y.
31. Amend
(a) * * *
(2) Activities given favorable CRA consideration. Performing any of the following activities if the activity is of the type that is likely to receive favorable consideration by a Federal banking agency in evaluating the performance under the CRA of the insured depository institution that is a party to the agreement or an affiliate of a party to the agreement--
(i) Home-purchase, home-improvement, small business, small farm, community development, and consumer lending, as described in
(ii) Making investments, deposits, or grants, or acquiring membership shares, that have as their primary purpose community development, as described in
(iii) Delivering retail banking services as described in
(iv) Providing community development services, as described in
(v) In the case of a wholesale or limited-purpose insured depository institution, community development lending, including originating and purchasing loans and making loan commitments and letters of credit, making qualified investments, or providing community development services, as described in
(vi) In the case of a small insured depository institution, any lending or other activity described in
(vii) In the case of an insured depository institution that is evaluated on the basis of a strategic plan, any element of the strategic plan, as described in
*****
32. Amend
33. Amend
Acting Comptroller of the Currency.
By order of the
Secretary of the Board.
By order of the Board of Directors.
Dated at
Assistant Executive Secretary.
[FR Doc. 2024-06497 Filed 3-28-24;
BILLING CODE 4810-33-P; 6210-01-P; 6714-01-P
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