Joint Release
Board of Governors of the Federal Reserve System
Federal Deposit Insurance Corporation
Office of the Comptroller of the Currency
For Immediate Release March 18, 2013
Agencies Release Proposed Revisions to Interagency
Questions and Answers Regarding Community Reinvestment
WASHINGTON—The federal bank regulatory agencies today requested comment on
proposed 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' Community Reinvestment Act
(CRA) regulations.
The proposed 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 proposed
amendments would:
• 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.
• Address the treatment of qualified investments to organizations that use only a
portion of the investment to support a community development purpose.
• Clarify that community development lending should be evaluated in such a way
that it may have a positive, neutral, or negative impact on the large institution
lending test rating.
The proposed revisions are being issued by the Federal Reserve Board, Federal
Deposit Insurance Corporation, and Office of the Comptroller of the Currency. The
notice that will be published in the Federal Register is attached. Comments will be due
60 days after that publication, which is expected shortly.
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.
Board of Governors of the Federal Reserve System
Federal Deposit Insurance Corporation
Office of the Comptroller of the Currency
For Immediate Release March 18, 2013
Agencies Release Proposed Revisions to Interagency
Questions and Answers Regarding Community Reinvestment
WASHINGTON—The federal bank regulatory agencies today requested comment on
proposed 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' Community Reinvestment Act
(CRA) regulations.
The proposed 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 proposed
amendments would:
• 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.
• Address the treatment of qualified investments to organizations that use only a
portion of the investment to support a community development purpose.
• Clarify that community development lending should be evaluated in such a way
that it may have a positive, neutral, or negative impact on the large institution
lending test rating.
The proposed revisions are being issued by the Federal Reserve Board, Federal
Deposit Insurance Corporation, and Office of the Comptroller of the Currency. The
notice that will be published in the Federal Register is attached. Comments will be due
60 days after that publication, which is expected shortly.
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.