69671Federal Register / Vol. 78, No. 224 / Wednesday, November 20, 2013 / Notices
1 See 78 FR 16765 (Mar. 18, 2013).
receivership assets has been completed.
To the extent permitted by available
funds and in accordance with law, the
Receiver will be making a final dividend
payment to proven creditors.
Based upon the foregoing, the
Receiver has determined that the
continued existence of the receivership
will serve no useful purpose.
Consequently, notice is given that the
receivership shall be terminated, to be
effective no sooner than thirty days after
the date of this Notice. If any person
wishes to comment concerning the
termination of the receivership, such
comment must be made in writing and
sent within thirty days of the date of
this Notice to: Federal Deposit
Insurance Corporation, Division of
Resolutions and Receiverships,
Attention: Receivership Oversight,
Department 32.1, 1601 Bryan Street,
Dallas, TX 75201.
No comments concerning the
termination of this receivership will be
considered which are not sent within
this time frame.
Dated at Washington, DC, this 14th day of
November 2013.
Federal Deposit Insurance Corporation.
Valerie J. Best,
Assistant Executive Secretary.
[FR Doc. 2013–27780 Filed 11–19–13; 8:45 am]
BILLING CODE 6714–01–P
FEDERAL RESERVE SYSTEM
Change in Bank Control Notices;
Acquisitions of Shares of a Bank or
Bank Holding Company
The notificants listed below have
applied under the Change in Bank
Control Act (12 U.S.C. 1817(j)) and
§ 225.41 of the Board’s Regulation Y (12
CFR 225.41) to acquire shares of a bank
or bank holding company. The factors
that are considered in acting on the
notices are set forth in paragraph 7 of
the Act (12 U.S.C. 1817(j)(7)).
The notices are available for
immediate inspection at the Federal
Reserve Bank indicated. The notices
also will be available for inspection at
the offices of the Board of Governors.
Interested persons may express their
views in writing to the Reserve Bank
indicated for that notice or to the offices
of the Board of Governors. Comments
must be received not later than
December 5, 2013.
A. Federal Reserve Bank of St. Louis
(Yvonne Sparks, Community
Development Officer) P.O. Box 442, St.
Louis, Missouri 63166–2034:
1. Fanyu Meng, Frontenac, Missouri,
Yahong Zhang, Changsha City, Hunan
Province, China, Suchin Prapaisilp,
Frontenac, Missouri, and Thomas Cy
Wong, St. Louis, Missouri; as group to
acquire voting shares of Superior
Bancshares, Inc., and thereby indirectly
acquire voting shares of Superior Bank,
both in Hazelwood, Missouri.
Board of Governors of the Federal Reserve
System, November 15, 2013.
Margaret McCloskey Shanks,
Deputy Secretary of the Board.
[FR Doc. 2013–27786 Filed 11–19–13; 8:45 am]
BILLING CODE 6210–01–P
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the
Currency
[Docket ID OCC–2013–0003]
FEDERAL RESERVE SYSTEM
[Docket No. OP–1456]
FEDERAL DEPOSIT INSURANCE
CORPORATION
Community Reinvestment Act;
Interagency Questions and Answers
Regarding Community Reinvestment;
Notice
AGENCY: Office of the Comptroller of the
Currency, Treasury (OCC); Board of
Governors of the Federal Reserve
System (Board); Federal Deposit
Insurance Corporation (FDIC).
ACTION: Notice.
SUMMARY: The OCC, Board, and FDIC
(collectively, the Agencies) are adopting
as final the Interagency Questions and
Answers Regarding Community
Reinvestment that were proposed on
March 18, 2013, to address several
community development issues. In
response to comments received, the
Agencies made minor clarifications to
some of the new and revised questions
and answers that were proposed.
DATES: Effective: November 20, 2013.
FOR FURTHER INFORMATION CONTACT:
OCC: Bobbie K. Kennedy, Bank
Examiner, Compliance Policy Division,
(202) 649–5470; or Margaret Hesse,
Senior Counsel, Community and
Consumer Law Division, (202) 649–
6350, Office of the Comptroller of the
Currency, 400 7th Street SW.,
Washington, DC 20219.
Board: Catherine M. J. Gates, Senior
Project Manager, (202) 452–2099; or
Theresa A. Stark, Senior Project
Manager, (202) 452–2302, Division of
Consumer and Community Affairs,
Board of Governors of the Federal
Reserve System, 20th Street and
Constitution Avenue NW., Washington,
DC 20551.
FDIC: Patience R. Singleton, Senior
Policy Analyst, Supervisory Policy
Branch, Division of Depositor and
Consumer Protection, (202) 898–6958;
Pamela A. Freeman, Senior Examination
Specialist, Compliance & CRA
Examinations Branch, Division of
Depositor and Consumer Protection,
(202) 898–3656; or Surya Sen, Section
Chief, Supervisory Policy Branch,
Division of Depositor and Consumer
Protection, (202) 898–6699; or Richard
M. Schwartz, Counsel, Legal Division,
(202) 898–7424, Federal Deposit
Insurance Corporation, 550 17th Street
NW., Washington, DC 20429.
SUPPLEMENTARY INFORMATION:
Background
The OCC, Board, and FDIC implement
the Community Reinvestment Act (CRA)
(12 U.S.C. 2901 et seq.) through their
CRA regulations. See 12 CFR parts 25,
195, 228, and 345. The Agencies’
regulations are interpreted primarily
through the ‘‘Interagency Questions and
Answers Regarding Community
Reinvestment’’ (Questions and
Answers), which provide guidance for
use by agency personnel, financial
institutions, and the public. The
Questions and Answers were first
published under the auspices of the
Federal Financial Institutions
Examination Council (FFIEC) in 1996
(61 FR 54647) and were last revised by
the Agencies on March 11, 2010 (2010
Questions and Answers) (75 FR 11642).
On March 18, 2013, the Agencies
published for comment proposed
clarifications that would revise five
questions and answers (Q&A), which
address (i) community development
activities outside an institution’s
assessment area(s), both in the broader
statewide or regional area that includes
the institution’s assessment area(s) and
in nationwide funds; (ii) additional
ways to determine whether recipients of
community services are low- or
moderate-income; and (iii) technical
assistance activities related to the
provision of financial services that
might be provided to community
development organizations.1 The
Agencies also proposed two new Q&As:
One addresses the treatment of
community development lending
performance in determining a large
institution’s lending test rating, and the
other addresses the quantitative
consideration given to a certain type of
community development investment.
Finally, the Agencies proposed to
VerDate Mar<15>2010 16:04 Nov 19, 2013 Jkt 232001 PO 00000 Frm 00032 Fmt 4703 Sfmt 4703 E:\FR\FM\20NON1.SGM 20NON1
tkelley on DSK3SPTVN1PROD with NOTICES
1 See 78 FR 16765 (Mar. 18, 2013).
receivership assets has been completed.
To the extent permitted by available
funds and in accordance with law, the
Receiver will be making a final dividend
payment to proven creditors.
Based upon the foregoing, the
Receiver has determined that the
continued existence of the receivership
will serve no useful purpose.
Consequently, notice is given that the
receivership shall be terminated, to be
effective no sooner than thirty days after
the date of this Notice. If any person
wishes to comment concerning the
termination of the receivership, such
comment must be made in writing and
sent within thirty days of the date of
this Notice to: Federal Deposit
Insurance Corporation, Division of
Resolutions and Receiverships,
Attention: Receivership Oversight,
Department 32.1, 1601 Bryan Street,
Dallas, TX 75201.
No comments concerning the
termination of this receivership will be
considered which are not sent within
this time frame.
Dated at Washington, DC, this 14th day of
November 2013.
Federal Deposit Insurance Corporation.
Valerie J. Best,
Assistant Executive Secretary.
[FR Doc. 2013–27780 Filed 11–19–13; 8:45 am]
BILLING CODE 6714–01–P
FEDERAL RESERVE SYSTEM
Change in Bank Control Notices;
Acquisitions of Shares of a Bank or
Bank Holding Company
The notificants listed below have
applied under the Change in Bank
Control Act (12 U.S.C. 1817(j)) and
§ 225.41 of the Board’s Regulation Y (12
CFR 225.41) to acquire shares of a bank
or bank holding company. The factors
that are considered in acting on the
notices are set forth in paragraph 7 of
the Act (12 U.S.C. 1817(j)(7)).
The notices are available for
immediate inspection at the Federal
Reserve Bank indicated. The notices
also will be available for inspection at
the offices of the Board of Governors.
Interested persons may express their
views in writing to the Reserve Bank
indicated for that notice or to the offices
of the Board of Governors. Comments
must be received not later than
December 5, 2013.
A. Federal Reserve Bank of St. Louis
(Yvonne Sparks, Community
Development Officer) P.O. Box 442, St.
Louis, Missouri 63166–2034:
1. Fanyu Meng, Frontenac, Missouri,
Yahong Zhang, Changsha City, Hunan
Province, China, Suchin Prapaisilp,
Frontenac, Missouri, and Thomas Cy
Wong, St. Louis, Missouri; as group to
acquire voting shares of Superior
Bancshares, Inc., and thereby indirectly
acquire voting shares of Superior Bank,
both in Hazelwood, Missouri.
Board of Governors of the Federal Reserve
System, November 15, 2013.
Margaret McCloskey Shanks,
Deputy Secretary of the Board.
[FR Doc. 2013–27786 Filed 11–19–13; 8:45 am]
BILLING CODE 6210–01–P
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the
Currency
[Docket ID OCC–2013–0003]
FEDERAL RESERVE SYSTEM
[Docket No. OP–1456]
FEDERAL DEPOSIT INSURANCE
CORPORATION
Community Reinvestment Act;
Interagency Questions and Answers
Regarding Community Reinvestment;
Notice
AGENCY: Office of the Comptroller of the
Currency, Treasury (OCC); Board of
Governors of the Federal Reserve
System (Board); Federal Deposit
Insurance Corporation (FDIC).
ACTION: Notice.
SUMMARY: The OCC, Board, and FDIC
(collectively, the Agencies) are adopting
as final the Interagency Questions and
Answers Regarding Community
Reinvestment that were proposed on
March 18, 2013, to address several
community development issues. In
response to comments received, the
Agencies made minor clarifications to
some of the new and revised questions
and answers that were proposed.
DATES: Effective: November 20, 2013.
FOR FURTHER INFORMATION CONTACT:
OCC: Bobbie K. Kennedy, Bank
Examiner, Compliance Policy Division,
(202) 649–5470; or Margaret Hesse,
Senior Counsel, Community and
Consumer Law Division, (202) 649–
6350, Office of the Comptroller of the
Currency, 400 7th Street SW.,
Washington, DC 20219.
Board: Catherine M. J. Gates, Senior
Project Manager, (202) 452–2099; or
Theresa A. Stark, Senior Project
Manager, (202) 452–2302, Division of
Consumer and Community Affairs,
Board of Governors of the Federal
Reserve System, 20th Street and
Constitution Avenue NW., Washington,
DC 20551.
FDIC: Patience R. Singleton, Senior
Policy Analyst, Supervisory Policy
Branch, Division of Depositor and
Consumer Protection, (202) 898–6958;
Pamela A. Freeman, Senior Examination
Specialist, Compliance & CRA
Examinations Branch, Division of
Depositor and Consumer Protection,
(202) 898–3656; or Surya Sen, Section
Chief, Supervisory Policy Branch,
Division of Depositor and Consumer
Protection, (202) 898–6699; or Richard
M. Schwartz, Counsel, Legal Division,
(202) 898–7424, Federal Deposit
Insurance Corporation, 550 17th Street
NW., Washington, DC 20429.
SUPPLEMENTARY INFORMATION:
Background
The OCC, Board, and FDIC implement
the Community Reinvestment Act (CRA)
(12 U.S.C. 2901 et seq.) through their
CRA regulations. See 12 CFR parts 25,
195, 228, and 345. The Agencies’
regulations are interpreted primarily
through the ‘‘Interagency Questions and
Answers Regarding Community
Reinvestment’’ (Questions and
Answers), which provide guidance for
use by agency personnel, financial
institutions, and the public. The
Questions and Answers were first
published under the auspices of the
Federal Financial Institutions
Examination Council (FFIEC) in 1996
(61 FR 54647) and were last revised by
the Agencies on March 11, 2010 (2010
Questions and Answers) (75 FR 11642).
On March 18, 2013, the Agencies
published for comment proposed
clarifications that would revise five
questions and answers (Q&A), which
address (i) community development
activities outside an institution’s
assessment area(s), both in the broader
statewide or regional area that includes
the institution’s assessment area(s) and
in nationwide funds; (ii) additional
ways to determine whether recipients of
community services are low- or
moderate-income; and (iii) technical
assistance activities related to the
provision of financial services that
might be provided to community
development organizations.1 The
Agencies also proposed two new Q&As:
One addresses the treatment of
community development lending
performance in determining a large
institution’s lending test rating, and the
other addresses the quantitative
consideration given to a certain type of
community development investment.
Finally, the Agencies proposed to
VerDate Mar<15>2010 16:04 Nov 19, 2013 Jkt 232001 PO 00000 Frm 00032 Fmt 4703 Sfmt 4703 E:\FR\FM\20NON1.SGM 20NON1
tkelley on DSK3SPTVN1PROD with NOTICES
69672 Federal Register / Vol. 78, No. 224 / Wednesday, November 20, 2013 / Notices
2 See 66 FR 36620 (July 12, 2001). Q&As
§ __.12(h)–6 and § __.12(h)–7 were previously
designated as § __.12(i) & § __563e.12(h)–5 and
§ __.12(i) & 563e.12(h)–6. See 66 FR 36626–27.
redesignate one Q&A without
substantive change.
Together, the Agencies received
comments from approximately 200
different parties. The commenters
represented financial institutions and
their trade associations, community
development advocates and
organizations, state bank supervisors,
and others. The commenters generally
noted that the proposed changes were a
modest, but beneficial, effort to
modernize the implementation of CRA.
Commenters largely supported the
intent of the Agencies to encourage
more community development activity,
particularly outside large metropolitan
areas that are well served by financial
institutions. Many commenters
expressed concern nonetheless about
potential unintended consequences in
the proposed changes and provided
suggestions for improvement.
Comments on each revised and new
proposed Q&A are discussed in more
detail below.
As discussed below, the Agencies
adopt the five revised and two new
Q&As that were proposed, with minor
clarifications as appropriate, in response
to comments received. The Agencies
also redesignate one Q&A without
substantive change.
The new and revised Q&As that the
Agencies are adopting supplement the
2010 Questions and Answers. The
revised Q&As replace the Q&As of the
same citation designation in the 2010
Questions and Answers. The Agencies
are currently revising examination
procedures to implement this final
guidance to promote consistent
application of the guidance within and
among the Agencies.
The Questions and Answers are
grouped by the provision of the CRA
regulations that they discuss, are
presented in the same order as the
regulatory provisions, and employ an
abbreviated method of citing to the
regulations. For example, the small bank
performance standards for national
banks appear at 12 CFR 25.26; for
savings associations, the small savings
association performance standards
appear at 12 CFR 195.26; for Federal
Reserve System member banks
supervised by the Board, the standards
appear at 12 CFR 228.26; and for state
nonmember banks, they appear at 12
CFR 345.26. Accordingly, the citation
would be 12 CFR __.26. Each Q&A is
numbered using a system that consists
of the regulatory citation and a number,
connected by a dash. For example, the
first Q&A addressing 12 CFR l.26
would be identified as § __.26–1.
Revisions of Existing Q&As
I. Community Development Activities
Outside an Institution’s Assessment
Area(s) in the Broader Statewide or
Regional Area That Includes the
Institution’s Assessment Area(s)
The CRA regulations allow
consideration of community
development loans, qualified
investments, and community
development services that benefit an
institution’s assessment area(s) or a
broader statewide or regional area that
includes the institution’s assessment
area(s). See 12 CFR __.12(h)(ii), __.23(a),
and __.24(b). In 2001,2 the Agencies
adopted the versions of Q&As § __
.12(h)–6 and § __.12(h)–7 that are found
in the 2010 Questions and Answers to
help assure financial institutions that
community development loans and
services and qualified investments in
the broader statewide or regional area
that includes their assessment area(s)
would receive consideration in their
CRA evaluations. However, the
Agencies had become aware that both
financial institutions and community
organizations needed additional
guidance on how, and to what extent,
the Agencies considered community
development activities in the broader
statewide or regional area when
conducting CRA evaluations.
Accordingly, the Agencies proposed to
revise Q&As § __.12(h)–6 and § __.12(h)–
7 to further clarify that community
development activities in the broader
statewide or regional area that includes
an institution’s assessment area(s) will
be considered in the evaluation of an
institution’s CRA performance.
Q&A § __.12(h)–6 addressed how
examiners would consider community
development activities in the broader
statewide or regional area that includes
an institution’s assessment area(s) and
differentiated between whether or not
the institution’s assessment area(s)
might receive a direct benefit from the
activity. The Agencies believed that
Q&A § __.12(h)–6 needed additional
clarification with regard to community
development activities that benefit
geographies or individuals located
somewhere within a broader statewide
or regional area that includes the
institution’s assessment area(s) but that
will not benefit the institution’s
assessment area(s). Q&A § __.12(h)–6
had stated that examiners would
consider such activities if an institution,
considering its performance context,
had adequately addressed the
community development needs of its
assessment area(s).
First, the Agencies proposed to revise
Q&A § __.12(h)–6 by removing the
phrase ‘‘adequately addressed the
community development needs of its
assessment area(s).’’ In its place, the
Agencies proposed to state that
community development activities
located in the broader statewide or
regional area that includes an
institution’s assessment area(s) but that
will not benefit those assessment area(s)
‘‘must be performed in a safe and sound
manner, consistent with the institution’s
capacity to oversee those activities and
may not be conducted in lieu of, or to
the detriment of, activities in the
institution’s assessment area(s). When
evaluating whether community
development activities are being
conducted in lieu of, or to the detriment
of, activities in the institution’s
assessment area(s), examiners will
consider an institution’s performance
context, including the community
development needs and opportunities in
its assessment area(s), its business
capacity and focus, and its past
performance.’’
The Agencies received about 143
comments addressing proposed revised
Q&A § __.12(h)–6. Commenters were
generally supportive of the Agencies’
effort to clarify when and how
community development activities in
the broader statewide or regional area
that includes an institution’s assessment
area(s) would receive consideration.
However, commenters provided mixed
views on whether the proposed
clarifications would provide an
incentive for financial institutions to
increase their community development
activities or expand their opportunities
to engage in community development
activities. For example, one commenter
stated that institutions’ community
development activities would depend
more on whether opportunities exist
within a given state or region and the
expertise of the institutions than on the
Agencies’ proposed revisions to the
Q&A. On the other hand, another
commenter stated that the proposed
revisions might encourage institutions
to expand their community
development activities.
The vast majority of the commenters
stated that the proposed language, ‘‘may
not be conducted in lieu of, or to the
detriment of, activities in the
institution’s assessment area(s),’’ would
generate more uncertainty than the
existing language, ‘‘adequately
addressed the community development
needs of its assessment area(s).’’ Several
commenters stated that the proposed
VerDate Mar<15>2010 16:04 Nov 19, 2013 Jkt 232001 PO 00000 Frm 00033 Fmt 4703 Sfmt 4703 E:\FR\FM\20NON1.SGM 20NON1
tkelley on DSK3SPTVN1PROD with NOTICES
2 See 66 FR 36620 (July 12, 2001). Q&As
§ __.12(h)–6 and § __.12(h)–7 were previously
designated as § __.12(i) & § __563e.12(h)–5 and
§ __.12(i) & 563e.12(h)–6. See 66 FR 36626–27.
redesignate one Q&A without
substantive change.
Together, the Agencies received
comments from approximately 200
different parties. The commenters
represented financial institutions and
their trade associations, community
development advocates and
organizations, state bank supervisors,
and others. The commenters generally
noted that the proposed changes were a
modest, but beneficial, effort to
modernize the implementation of CRA.
Commenters largely supported the
intent of the Agencies to encourage
more community development activity,
particularly outside large metropolitan
areas that are well served by financial
institutions. Many commenters
expressed concern nonetheless about
potential unintended consequences in
the proposed changes and provided
suggestions for improvement.
Comments on each revised and new
proposed Q&A are discussed in more
detail below.
As discussed below, the Agencies
adopt the five revised and two new
Q&As that were proposed, with minor
clarifications as appropriate, in response
to comments received. The Agencies
also redesignate one Q&A without
substantive change.
The new and revised Q&As that the
Agencies are adopting supplement the
2010 Questions and Answers. The
revised Q&As replace the Q&As of the
same citation designation in the 2010
Questions and Answers. The Agencies
are currently revising examination
procedures to implement this final
guidance to promote consistent
application of the guidance within and
among the Agencies.
The Questions and Answers are
grouped by the provision of the CRA
regulations that they discuss, are
presented in the same order as the
regulatory provisions, and employ an
abbreviated method of citing to the
regulations. For example, the small bank
performance standards for national
banks appear at 12 CFR 25.26; for
savings associations, the small savings
association performance standards
appear at 12 CFR 195.26; for Federal
Reserve System member banks
supervised by the Board, the standards
appear at 12 CFR 228.26; and for state
nonmember banks, they appear at 12
CFR 345.26. Accordingly, the citation
would be 12 CFR __.26. Each Q&A is
numbered using a system that consists
of the regulatory citation and a number,
connected by a dash. For example, the
first Q&A addressing 12 CFR l.26
would be identified as § __.26–1.
Revisions of Existing Q&As
I. Community Development Activities
Outside an Institution’s Assessment
Area(s) in the Broader Statewide or
Regional Area That Includes the
Institution’s Assessment Area(s)
The CRA regulations allow
consideration of community
development loans, qualified
investments, and community
development services that benefit an
institution’s assessment area(s) or a
broader statewide or regional area that
includes the institution’s assessment
area(s). See 12 CFR __.12(h)(ii), __.23(a),
and __.24(b). In 2001,2 the Agencies
adopted the versions of Q&As § __
.12(h)–6 and § __.12(h)–7 that are found
in the 2010 Questions and Answers to
help assure financial institutions that
community development loans and
services and qualified investments in
the broader statewide or regional area
that includes their assessment area(s)
would receive consideration in their
CRA evaluations. However, the
Agencies had become aware that both
financial institutions and community
organizations needed additional
guidance on how, and to what extent,
the Agencies considered community
development activities in the broader
statewide or regional area when
conducting CRA evaluations.
Accordingly, the Agencies proposed to
revise Q&As § __.12(h)–6 and § __.12(h)–
7 to further clarify that community
development activities in the broader
statewide or regional area that includes
an institution’s assessment area(s) will
be considered in the evaluation of an
institution’s CRA performance.
Q&A § __.12(h)–6 addressed how
examiners would consider community
development activities in the broader
statewide or regional area that includes
an institution’s assessment area(s) and
differentiated between whether or not
the institution’s assessment area(s)
might receive a direct benefit from the
activity. The Agencies believed that
Q&A § __.12(h)–6 needed additional
clarification with regard to community
development activities that benefit
geographies or individuals located
somewhere within a broader statewide
or regional area that includes the
institution’s assessment area(s) but that
will not benefit the institution’s
assessment area(s). Q&A § __.12(h)–6
had stated that examiners would
consider such activities if an institution,
considering its performance context,
had adequately addressed the
community development needs of its
assessment area(s).
First, the Agencies proposed to revise
Q&A § __.12(h)–6 by removing the
phrase ‘‘adequately addressed the
community development needs of its
assessment area(s).’’ In its place, the
Agencies proposed to state that
community development activities
located in the broader statewide or
regional area that includes an
institution’s assessment area(s) but that
will not benefit those assessment area(s)
‘‘must be performed in a safe and sound
manner, consistent with the institution’s
capacity to oversee those activities and
may not be conducted in lieu of, or to
the detriment of, activities in the
institution’s assessment area(s). When
evaluating whether community
development activities are being
conducted in lieu of, or to the detriment
of, activities in the institution’s
assessment area(s), examiners will
consider an institution’s performance
context, including the community
development needs and opportunities in
its assessment area(s), its business
capacity and focus, and its past
performance.’’
The Agencies received about 143
comments addressing proposed revised
Q&A § __.12(h)–6. Commenters were
generally supportive of the Agencies’
effort to clarify when and how
community development activities in
the broader statewide or regional area
that includes an institution’s assessment
area(s) would receive consideration.
However, commenters provided mixed
views on whether the proposed
clarifications would provide an
incentive for financial institutions to
increase their community development
activities or expand their opportunities
to engage in community development
activities. For example, one commenter
stated that institutions’ community
development activities would depend
more on whether opportunities exist
within a given state or region and the
expertise of the institutions than on the
Agencies’ proposed revisions to the
Q&A. On the other hand, another
commenter stated that the proposed
revisions might encourage institutions
to expand their community
development activities.
The vast majority of the commenters
stated that the proposed language, ‘‘may
not be conducted in lieu of, or to the
detriment of, activities in the
institution’s assessment area(s),’’ would
generate more uncertainty than the
existing language, ‘‘adequately
addressed the community development
needs of its assessment area(s).’’ Several
commenters stated that the proposed
VerDate Mar<15>2010 16:04 Nov 19, 2013 Jkt 232001 PO 00000 Frm 00033 Fmt 4703 Sfmt 4703 E:\FR\FM\20NON1.SGM 20NON1
tkelley on DSK3SPTVN1PROD with NOTICES