On December 29, 2016 the joint federal agencies issued a press release disclosing annual adjustments to the CRA asset size thresholds. The definitions of small and intermediate small institutions for CRA examinations will change as follows:
Additionally, the press release included an FDIC administrative change to both the CRA main office and branch lobby notices. The current notice states that Regional Managers are the proper agency officials responsible for making available the lists of the banks scheduled for CRA examination in any particular quarter and receiving any public comment regarding the CRA performance of any of those banks. However, a technical change was made to the responsible official’s title from Regional Manager to Regional Director. In addition, since the original notice requirements were written, a website was designed to receive public comments electronically. The amendments made in this notice reflect those two changes.
The associated changes to the CRA notice requirements will compel covered institutions to print and post the revised CRA notices in their main and branch offices.
The Press Release can be found here.
The Federal Register notice with model CRA language can be found here.
- "Small bank" or "small savings association" means an institution that, as of December 31 of either of the prior two calendar years, had assets of less than $1.226 billion.
- "Intermediate small bank" or "intermediate small savings association" means a small institution with assets of at least $307 million as of December 31 of both of the prior two calendar years and less than $1.226 billion as of December 31 of either of the prior two calendar years.
Additionally, the press release included an FDIC administrative change to both the CRA main office and branch lobby notices. The current notice states that Regional Managers are the proper agency officials responsible for making available the lists of the banks scheduled for CRA examination in any particular quarter and receiving any public comment regarding the CRA performance of any of those banks. However, a technical change was made to the responsible official’s title from Regional Manager to Regional Director. In addition, since the original notice requirements were written, a website was designed to receive public comments electronically. The amendments made in this notice reflect those two changes.
The associated changes to the CRA notice requirements will compel covered institutions to print and post the revised CRA notices in their main and branch offices.
The Press Release can be found here.
The Federal Register notice with model CRA language can be found here.
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