Joint Release
Federal Deposit Insurance Corporation
Federal Reserve Board of Governors
Office of the Comptroller of the Currency
For Immediate Release November 15, 2013
Agencies Release Final Revisions to Interagency Questions and Answers
Regarding Community Reinvestment
WASHINGTON--The federal bank regulatory agencies with responsibility for Community
Reinvestment Act (CRA) rulemaking today published final revisions to "Interagency
Questions and Answers Regarding Community Reinvestment." The Questions and
Answers document provides additional guidance to financial institutions and the public
on the agencies' CRA regulations.
The revisions focus primarily on community development. Community development
activities are considered as part of the CRA performance tests for large institutions,
intermediate small institutions, and wholesale and limited purpose institutions. Small
institutions may use community development activity to receive consideration toward an
outstanding CRA rating. Among other things, the amendments:
Clarify how the agencies consider community development activities that benefit
a broader statewide or regional area that includes an institution's assessment
area.
Provide guidance related to CRA consideration of, and documentation
associated with, investments in nationwide funds.
Clarify the consideration of certain community development services, such as
service on a community development organization's Board of Directors.
Address the treatment of loans or investments to organizations that, in turn,
invest those funds and use only a portion of the income from their investment to
support a community development purpose.
Clarify that community development lending performance is always a factor
considered in a large institution's lending test rating.
The final revisions are being issued by the Federal Reserve Board, Federal Deposit
Insurance Corporation, and Office of the Comptroller of the Currency. The attached
notice will be published shortly in the Federal Register. The agencies also are revising
the relevant interagency CRA examination procedures, which will be released soon.
For more information on the CRA, including these Questions and Answers and the
agencies' CRA regulations, visit the Federal Financial Institutions Examination Council
website at: http://www.ffiec.gov/cra.
Federal Deposit Insurance Corporation
Federal Reserve Board of Governors
Office of the Comptroller of the Currency
For Immediate Release November 15, 2013
Agencies Release Final Revisions to Interagency Questions and Answers
Regarding Community Reinvestment
WASHINGTON--The federal bank regulatory agencies with responsibility for Community
Reinvestment Act (CRA) rulemaking today published final revisions to "Interagency
Questions and Answers Regarding Community Reinvestment." The Questions and
Answers document provides additional guidance to financial institutions and the public
on the agencies' CRA regulations.
The revisions focus primarily on community development. Community development
activities are considered as part of the CRA performance tests for large institutions,
intermediate small institutions, and wholesale and limited purpose institutions. Small
institutions may use community development activity to receive consideration toward an
outstanding CRA rating. Among other things, the amendments:
Clarify how the agencies consider community development activities that benefit
a broader statewide or regional area that includes an institution's assessment
area.
Provide guidance related to CRA consideration of, and documentation
associated with, investments in nationwide funds.
Clarify the consideration of certain community development services, such as
service on a community development organization's Board of Directors.
Address the treatment of loans or investments to organizations that, in turn,
invest those funds and use only a portion of the income from their investment to
support a community development purpose.
Clarify that community development lending performance is always a factor
considered in a large institution's lending test rating.
The final revisions are being issued by the Federal Reserve Board, Federal Deposit
Insurance Corporation, and Office of the Comptroller of the Currency. The attached
notice will be published shortly in the Federal Register. The agencies also are revising
the relevant interagency CRA examination procedures, which will be released soon.
For more information on the CRA, including these Questions and Answers and the
agencies' CRA regulations, visit the Federal Financial Institutions Examination Council
website at: http://www.ffiec.gov/cra.
# # #
Attachment: Community Reinvestment Act; Interagency Questions and Answers
Regarding Community Reinvestment; Notice - PDF (PDF Help)
Media Contacts:
Federal Reserve Susan Stawick (202)-452-2955
FDIC Greg Hernandez (202) 898-6993
OCC Stephanie Collins (202) 649-6870
FDIC: PR-101-2013
Attachment: Community Reinvestment Act; Interagency Questions and Answers
Regarding Community Reinvestment; Notice - PDF (PDF Help)
Media Contacts:
Federal Reserve Susan Stawick (202)-452-2955
FDIC Greg Hernandez (202) 898-6993
OCC Stephanie Collins (202) 649-6870
FDIC: PR-101-2013