23692 Federal Register / Vol. 80, No. 82 / Wednesday, April 29, 2015 / Rules and Regulations
DOE has concluded that this
regulatory action is not a significant
energy action because it is not likely to
have a significant adverse effect on the
supply, distribution, or use of energy,
nor has it been designated as such by
the Administrator at OIRA. Accordingly,
DOE has not prepared a Statement of
Energy Effects on the final rule.
Congressional Notification
As required by 5 U.S.C. 801, DOE will
report to Congress on the promulgation
of this rule prior to its effective date.
The report will state that it has been
determined that the rule is not a ‘‘major
rule’’ as defined by 5 U.S.C. 804(2).
IV. Approval of the Office of the
Secretary
The Office of the Secretary of Energy
has approved the issuance of this final
rule.
List of Subjects in 10 CFR Part 1047
Government contracts, Law
enforcement, Nuclear energy.
Issued in Washington, DC, on March 23,
2015.
Ernest J. Moniz,
Secretary.
For the reasons set forth in the
preamble, DOE is amending part 1047 of
chapter X of title 10 of the Code of
Federal Regulations, to read as set forth
below:
PART 1047—LIMITED ARREST
AUTHORITY AND USE OF FORCE BY
PROTECTIVE FORCE OFFICERS
■ 1. The authority citation for part 1047
continues to read as follows:
Authority: Sec. 2201, Pub. L. 83–703, 68
Stat. 919 (42 U.S.C. 2011 et seq.); Department
of Energy Organization Act, Pub. L. 95–91, 91
Stat. 565 (42 U.S.C. 7101 et seq.).
■ 2. Section 1047.4 is amended by:
■ a. Adding paragraph (a)(1)(iii); and
■ b. Revising paragraphs (b) and (c).
The addition and revisions read as
follows:
§ 1047.4 Arrest authority.
(a) * * *
(1) * * *
(iii) Assaulting, resisting, or impeding
certain officers or employees—18 U.S.C.
111. Both the felony and misdemeanor
level offenses may only be enforced by
protective force officers that are federal
employees.
* * * * *
(b) Felony Arrests. A protective force
officer is authorized to make an arrest
for any felony listed in paragraph
(a)(1)(i) or (a)(2)(i) of this section if the
offense is committed in the presence of
the protective force officer or if he or
she has reasonable grounds to believe
that the individual to be arrested has
committed or is committing the felony.
(c) Misdemeanor Arrest. A protective
force officer is authorized to make an
arrest for any misdemeanor listed in
paragraph (a)(1)(ii) or (a)(2)(ii) of this
section if the offense is committed in
the presence of the protective force
officer.
* * * * *
[FR Doc. 2015–10042 Filed 4–28–15; 8:45 am]
BILLING CODE 6450–01–P
FEDERAL DEPOSIT INSURANCE
CORPORATION
12 CFR Part 346
RIN 3064–AE09
Transferred OTS Regulations and
Regulations Regarding Disclosure and
Reporting of CRA-Related Agreements
AGENCY: Federal Deposit Insurance
Corporation.
ACTION: Final rule; correcting
amendment.
SUMMARY: The Federal Deposit
Insurance Corporation (‘‘FDIC’’)
published a final rule in the Federal
Register on July 21, 2014 (79 FR 42183),
regarding Transferred OTS Regulations
Regarding Disclosure and Reporting of
CRA-Related Agreements. This
publication corrects a typographical
error which caused the unintended
deletion of §§ 346.2 through 346.10.
DATES: The correction is effective April
29, 2015.
FOR FURTHER INFORMATION CONTACT:
Patience Singleton, Senior Policy
Analyst, Division of Depositor and
Consumer Protection, (202) 898–6859;
Jennifer Maree, Counsel, Legal Division,
(202) 898–6543; Richard M. Schwartz,
Counsel, Legal Division, (202) 898–
7424.
SUPPLEMENTARY INFORMATION: The
Federal Deposit Insurance Corporation
(‘‘FDIC’’) is correcting a typographical
error in the final rule that published in
the Federal Register on July 21, 2014
(79 FR 42183), which caused the
unintended deletion of §§ 346.2 through
346.10.
List of Subjects in 12 CFR Part 346
Banks and banking, Disclosure and
reporting of CRA-related agreements,
Savings associations.
Authority and Issuance
For the reasons stated in the
preamble, the Board of Directors of the
Federal Deposit Insurance Corporation
corrects 12 CFR chapter III by revising
part 346 as set forth below:
PART 346—DISCLOSURE AND
REPORTING OF CRA-RELATED
AGREEMENTS
Sec.
346.1 Purpose and scope of this part.
346.2 Definition of covered agreement.
346.3 CRA communications.
346.4 Fulfillment of the CRA.
346.5 Related agreements considered a
single agreement.
346.6 Disclosure of covered agreements.
346.7 Annual reports.
346.8 Release of information under FOIA.
346.9 Compliance provisions.
346.10 Transition provisions.
346.11 Other definitions and rules of
construction used in this part.
Authority: 12 U.S.C. 1831y.
PART 346—DISCLOSURE AND
REPORTING OF CRA-RELATED
AGREEMENTS
§ 346.1 Purpose and scope of this part.
(a) General. This part implements
section 711 of the Gramm-Leach-Bliley
Act (12 U.S.C. 1831y). That section
requires any nongovernmental entity or
person, insured depository institution,
or affiliate of an insured depository
institution that enters into a covered
agreement to—
(1) Make the covered agreement
available to the public and the
appropriate Federal banking agency;
and
(2) File an annual report with the
appropriate Federal banking agency
concerning the covered agreement.
(b) Scope of this part. The provisions
of this part apply to—
(1) State nonmember insured banks;
(2) Subsidiaries of state nonmember
insured banks;
(3) Nongovernmental entities or
persons that enter into covered
agreements with any company listed in
paragraphs (b)(1), (2), (4) and (5) of this
section.
(4) State savings associations; and
(5) Subsidiaries of State savings
associations.
(c) Relation to Community
Reinvestment Act. This part does not
affect in any way the Community
Reinvestment Act of 1977 (12 U.S.C.
2901 et seq.) or the FDIC’s Community
Reinvestment regulation found at 12
CFR part 345, or the FDIC’s
interpretations or administration of that
Act or regulation.
(d) Examples. (1) The examples in this
part are not exclusive. Compliance with
an example, to the extent applicable,
constitutes compliance with this part.
VerDate Sep<11>2014 16:52 Apr 28, 2015 Jkt 235001 PO 00000 Frm 00020 Fmt 4700 Sfmt 4700 E:\FR\FM\29APR1.SGM 29APR1
mstockstill on DSK4VPTVN1PROD with RULES
DOE has concluded that this
regulatory action is not a significant
energy action because it is not likely to
have a significant adverse effect on the
supply, distribution, or use of energy,
nor has it been designated as such by
the Administrator at OIRA. Accordingly,
DOE has not prepared a Statement of
Energy Effects on the final rule.
Congressional Notification
As required by 5 U.S.C. 801, DOE will
report to Congress on the promulgation
of this rule prior to its effective date.
The report will state that it has been
determined that the rule is not a ‘‘major
rule’’ as defined by 5 U.S.C. 804(2).
IV. Approval of the Office of the
Secretary
The Office of the Secretary of Energy
has approved the issuance of this final
rule.
List of Subjects in 10 CFR Part 1047
Government contracts, Law
enforcement, Nuclear energy.
Issued in Washington, DC, on March 23,
2015.
Ernest J. Moniz,
Secretary.
For the reasons set forth in the
preamble, DOE is amending part 1047 of
chapter X of title 10 of the Code of
Federal Regulations, to read as set forth
below:
PART 1047—LIMITED ARREST
AUTHORITY AND USE OF FORCE BY
PROTECTIVE FORCE OFFICERS
■ 1. The authority citation for part 1047
continues to read as follows:
Authority: Sec. 2201, Pub. L. 83–703, 68
Stat. 919 (42 U.S.C. 2011 et seq.); Department
of Energy Organization Act, Pub. L. 95–91, 91
Stat. 565 (42 U.S.C. 7101 et seq.).
■ 2. Section 1047.4 is amended by:
■ a. Adding paragraph (a)(1)(iii); and
■ b. Revising paragraphs (b) and (c).
The addition and revisions read as
follows:
§ 1047.4 Arrest authority.
(a) * * *
(1) * * *
(iii) Assaulting, resisting, or impeding
certain officers or employees—18 U.S.C.
111. Both the felony and misdemeanor
level offenses may only be enforced by
protective force officers that are federal
employees.
* * * * *
(b) Felony Arrests. A protective force
officer is authorized to make an arrest
for any felony listed in paragraph
(a)(1)(i) or (a)(2)(i) of this section if the
offense is committed in the presence of
the protective force officer or if he or
she has reasonable grounds to believe
that the individual to be arrested has
committed or is committing the felony.
(c) Misdemeanor Arrest. A protective
force officer is authorized to make an
arrest for any misdemeanor listed in
paragraph (a)(1)(ii) or (a)(2)(ii) of this
section if the offense is committed in
the presence of the protective force
officer.
* * * * *
[FR Doc. 2015–10042 Filed 4–28–15; 8:45 am]
BILLING CODE 6450–01–P
FEDERAL DEPOSIT INSURANCE
CORPORATION
12 CFR Part 346
RIN 3064–AE09
Transferred OTS Regulations and
Regulations Regarding Disclosure and
Reporting of CRA-Related Agreements
AGENCY: Federal Deposit Insurance
Corporation.
ACTION: Final rule; correcting
amendment.
SUMMARY: The Federal Deposit
Insurance Corporation (‘‘FDIC’’)
published a final rule in the Federal
Register on July 21, 2014 (79 FR 42183),
regarding Transferred OTS Regulations
Regarding Disclosure and Reporting of
CRA-Related Agreements. This
publication corrects a typographical
error which caused the unintended
deletion of §§ 346.2 through 346.10.
DATES: The correction is effective April
29, 2015.
FOR FURTHER INFORMATION CONTACT:
Patience Singleton, Senior Policy
Analyst, Division of Depositor and
Consumer Protection, (202) 898–6859;
Jennifer Maree, Counsel, Legal Division,
(202) 898–6543; Richard M. Schwartz,
Counsel, Legal Division, (202) 898–
7424.
SUPPLEMENTARY INFORMATION: The
Federal Deposit Insurance Corporation
(‘‘FDIC’’) is correcting a typographical
error in the final rule that published in
the Federal Register on July 21, 2014
(79 FR 42183), which caused the
unintended deletion of §§ 346.2 through
346.10.
List of Subjects in 12 CFR Part 346
Banks and banking, Disclosure and
reporting of CRA-related agreements,
Savings associations.
Authority and Issuance
For the reasons stated in the
preamble, the Board of Directors of the
Federal Deposit Insurance Corporation
corrects 12 CFR chapter III by revising
part 346 as set forth below:
PART 346—DISCLOSURE AND
REPORTING OF CRA-RELATED
AGREEMENTS
Sec.
346.1 Purpose and scope of this part.
346.2 Definition of covered agreement.
346.3 CRA communications.
346.4 Fulfillment of the CRA.
346.5 Related agreements considered a
single agreement.
346.6 Disclosure of covered agreements.
346.7 Annual reports.
346.8 Release of information under FOIA.
346.9 Compliance provisions.
346.10 Transition provisions.
346.11 Other definitions and rules of
construction used in this part.
Authority: 12 U.S.C. 1831y.
PART 346—DISCLOSURE AND
REPORTING OF CRA-RELATED
AGREEMENTS
§ 346.1 Purpose and scope of this part.
(a) General. This part implements
section 711 of the Gramm-Leach-Bliley
Act (12 U.S.C. 1831y). That section
requires any nongovernmental entity or
person, insured depository institution,
or affiliate of an insured depository
institution that enters into a covered
agreement to—
(1) Make the covered agreement
available to the public and the
appropriate Federal banking agency;
and
(2) File an annual report with the
appropriate Federal banking agency
concerning the covered agreement.
(b) Scope of this part. The provisions
of this part apply to—
(1) State nonmember insured banks;
(2) Subsidiaries of state nonmember
insured banks;
(3) Nongovernmental entities or
persons that enter into covered
agreements with any company listed in
paragraphs (b)(1), (2), (4) and (5) of this
section.
(4) State savings associations; and
(5) Subsidiaries of State savings
associations.
(c) Relation to Community
Reinvestment Act. This part does not
affect in any way the Community
Reinvestment Act of 1977 (12 U.S.C.
2901 et seq.) or the FDIC’s Community
Reinvestment regulation found at 12
CFR part 345, or the FDIC’s
interpretations or administration of that
Act or regulation.
(d) Examples. (1) The examples in this
part are not exclusive. Compliance with
an example, to the extent applicable,
constitutes compliance with this part.
VerDate Sep<11>2014 16:52 Apr 28, 2015 Jkt 235001 PO 00000 Frm 00020 Fmt 4700 Sfmt 4700 E:\FR\FM\29APR1.SGM 29APR1
mstockstill on DSK4VPTVN1PROD with RULES
23693Federal Register / Vol. 80, No. 82 / Wednesday, April 29, 2015 / Rules and Regulations
(2) Examples in a paragraph illustrate
only the issue described in the
paragraph and do not illustrate any
other issues that may arise in this part.
§ 346.2 Definition of covered agreement.
(a) General definition of covered
agreement. A covered agreement is any
contract, arrangement, or understanding
that meets all of the following criteria—
(1) The agreement is in writing.
(2) The parties to the agreement
include—
(i) One or more insured depository
institutions or affiliates of an insured
depository institution; and
(ii) One or more nongovernmental
entities or persons (referred to hereafter
as NGEPs).
(3) The agreement provides for the
insured depository institution or any
affiliate to—
(i) Provide to one or more individuals
or entities (whether or not parties to the
agreement) cash payments, grants, or
other consideration (except loans) that
have an aggregate value of more than
$10,000 in any calendar year; or
(ii) Make to one or more individuals
or entities (whether or not parties to the
agreement) loans that have an aggregate
principal amount of more than $50,000
in any calendar year.
(4) The agreement is made pursuant
to, or in connection with, the fulfillment
of the Community Reinvestment Act of
1977 (12 U.S.C. 2901 et seq.) (CRA), as
defined in§ 346.4.
(5) The agreement is with a NGEP that
has had a CRA communication as
described in § 346.3 prior to entering
into the agreement.
(b) Examples concerning written
arrangements or understandings—
(1) Example 1. A NGEP meets with an
insured depository institution and states that
the institution needs to make more
community development investments in the
NGEP’s community. The NGEP and insured
depository institution do not reach an
agreement concerning the community
development investments the institution
should make in the community, and the
parties do not reach any mutual arrangement
or understanding. Two weeks later, the
institution unilaterally issues a press release
announcing that it has established a general
goal of making $100 million of community
development grants in low- and moderate-
income neighborhoods served by the insured
depository institution over the next 5 years.
The NGEP is not identified in the press
release. The press release is not a written
arrangement or understanding.
(2) Example 2. A NGEP meets with an
insured depository institution and states that
the institution needs to offer new loan
programs in the NGEP’s community. The
NGEP and the insured depository institution
reach a mutual arrangement or understanding
that the institution will provide additional
loans in the NGEP’s community. The
institution tells the NGEP that it will issue
a press release announcing the program.
Later, the insured depository institution
issues a press release announcing the loan
program. The press release incorporates the
key terms of the understanding reached
between the NGEP and the insured
depository institution. The written press
release reflects the mutual arrangement or
understanding of the NGEP and the insured
depository institution and is, therefore, a
written arrangement or understanding.
(3) Example 3. An NGEP sends a letter to
an insured depository institution requesting
that the institution provide a $15,000 grant
to the NGEP. The insured depository
institution responds in writing and agrees to
provide the grant in connection with its
annual grant program. The exchange of
letters constitutes a written arrangement or
understanding.
(c) Loan agreements that are not
covered agreements. A covered
agreement does not include—
(1) Any individual loan that is
secured by real estate; or
(2) Any specific contract or
commitment for a loan or extension of
credit to an individual, business, farm,
or other entity, or group of such
individuals or entities if—
(i) The funds are loaned at rates that
are not substantially below market rates;
and
(ii) The loan application or other loan
documentation does not indicate that
the borrower intends or is authorized to
use the borrowed funds to make a loan
or extension of credit to one or more
third parties.
(d) Examples concerning loan
agreements—
(1) Example 1. An insured depository
institution provides an organization with a
$1 million loan that is documented in writing
and is secured by real estate owned or to-be-
acquired by the organization. The agreement
is an individual mortgage loan and is exempt
from coverage under paragraph (c)(1) of this
section, regardless of the interest rate on the
loan or whether the organization intends or
is authorized to re-loan the funds to a third
party.
(2) Example 2. An insured depository
institution commits to provide a $500,000
line of credit to a small business that is
documented by a written agreement. The
loan is made at rates that are within the range
of rates offered by the institution to similarly
situated small businesses in the market and
the loan documentation does not indicate
that the small business intends or is
authorized to re-lend the borrowed funds.
The agreement is exempt from coverage
under paragraph (c)(2) of this section.
(3) Example 3. An insured depository
institution offers small business loans that
are guaranteed by the Small Business
Administration (SBA). A small business
obtains a $75,000 loan, documented in
writing, from the institution under the
institution’s SBA loan program. The loan
documentation does not indicate that the
borrower intends or is authorized to re-lend
the funds. Although the rate charged on the
loan is well below that charged by the
institution on commercial loans, the rate is
within the range of rates that the institution
would charge a similarly situated small
business for a similar loan under the SBA
loan program. Accordingly, the loan is not
made at substantially below market rates and
is exempt from coverage under paragraph
(c)(2) of this section.
(4) Example 4. A bank holding company
enters into a written agreement with a
community development organization that
provides that insured depository institutions
owned by the bank holding company will
make $250 million in small business loans in
the community over the next 5 years. The
written agreement is not a specific contract
or commitment for a loan or an extension of
credit and, thus, is not exempt from coverage
under paragraph (c)(2) of this section: Each
small business loan made by the insured
depository institution pursuant to this
general commitment would, however, be
exempt from coverage if the loan is made at
rates that are not substantially below market
rates and the loan documentation does not
indicate that the borrower intended or was
authorized to re-lend the funds.
(e) Agreements that include exempt
loan agreements. If an agreement
includes a loan, extension of credit or
loan commitment that, if documented
separately, would be exempt under
paragraph (c) of this section, the exempt
loan, extension of credit or loan
commitment may be excluded for
purposes of determining whether the
agreement is a covered agreement.
(f) Determining annual value of
agreements that lack schedule of
disbursements. For purposes of
paragraph (a)(3) of this section, a multi-
year agreement that does not include a
schedule for the disbursement of
payments, grants, loans or other
consideration by the insured depository
institution or affiliate, is considered to
have a value in the first year of the
agreement equal to all payments, grants,
loans and other consideration to be
provided at any time under the
agreement.
§ 346.3 CRA communications.
(a) Definition of CRA communication.
A CRA communication is any of the
following—
(1) Any written or oral comment or
testimony provided to a Federal banking
agency concerning the adequacy of the
performance under the CRA of the
insured depository institution, any
affiliated insured depository institution,
or any CRA affiliate.
(2) Any written comment submitted to
the insured depository institution that
discusses the adequacy of the
performance under the CRA of the
institution and must be included in the
institution’s CRA public file.
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mstockstill on DSK4VPTVN1PROD with RULES
(2) Examples in a paragraph illustrate
only the issue described in the
paragraph and do not illustrate any
other issues that may arise in this part.
§ 346.2 Definition of covered agreement.
(a) General definition of covered
agreement. A covered agreement is any
contract, arrangement, or understanding
that meets all of the following criteria—
(1) The agreement is in writing.
(2) The parties to the agreement
include—
(i) One or more insured depository
institutions or affiliates of an insured
depository institution; and
(ii) One or more nongovernmental
entities or persons (referred to hereafter
as NGEPs).
(3) The agreement provides for the
insured depository institution or any
affiliate to—
(i) Provide to one or more individuals
or entities (whether or not parties to the
agreement) cash payments, grants, or
other consideration (except loans) that
have an aggregate value of more than
$10,000 in any calendar year; or
(ii) Make to one or more individuals
or entities (whether or not parties to the
agreement) loans that have an aggregate
principal amount of more than $50,000
in any calendar year.
(4) The agreement is made pursuant
to, or in connection with, the fulfillment
of the Community Reinvestment Act of
1977 (12 U.S.C. 2901 et seq.) (CRA), as
defined in§ 346.4.
(5) The agreement is with a NGEP that
has had a CRA communication as
described in § 346.3 prior to entering
into the agreement.
(b) Examples concerning written
arrangements or understandings—
(1) Example 1. A NGEP meets with an
insured depository institution and states that
the institution needs to make more
community development investments in the
NGEP’s community. The NGEP and insured
depository institution do not reach an
agreement concerning the community
development investments the institution
should make in the community, and the
parties do not reach any mutual arrangement
or understanding. Two weeks later, the
institution unilaterally issues a press release
announcing that it has established a general
goal of making $100 million of community
development grants in low- and moderate-
income neighborhoods served by the insured
depository institution over the next 5 years.
The NGEP is not identified in the press
release. The press release is not a written
arrangement or understanding.
(2) Example 2. A NGEP meets with an
insured depository institution and states that
the institution needs to offer new loan
programs in the NGEP’s community. The
NGEP and the insured depository institution
reach a mutual arrangement or understanding
that the institution will provide additional
loans in the NGEP’s community. The
institution tells the NGEP that it will issue
a press release announcing the program.
Later, the insured depository institution
issues a press release announcing the loan
program. The press release incorporates the
key terms of the understanding reached
between the NGEP and the insured
depository institution. The written press
release reflects the mutual arrangement or
understanding of the NGEP and the insured
depository institution and is, therefore, a
written arrangement or understanding.
(3) Example 3. An NGEP sends a letter to
an insured depository institution requesting
that the institution provide a $15,000 grant
to the NGEP. The insured depository
institution responds in writing and agrees to
provide the grant in connection with its
annual grant program. The exchange of
letters constitutes a written arrangement or
understanding.
(c) Loan agreements that are not
covered agreements. A covered
agreement does not include—
(1) Any individual loan that is
secured by real estate; or
(2) Any specific contract or
commitment for a loan or extension of
credit to an individual, business, farm,
or other entity, or group of such
individuals or entities if—
(i) The funds are loaned at rates that
are not substantially below market rates;
and
(ii) The loan application or other loan
documentation does not indicate that
the borrower intends or is authorized to
use the borrowed funds to make a loan
or extension of credit to one or more
third parties.
(d) Examples concerning loan
agreements—
(1) Example 1. An insured depository
institution provides an organization with a
$1 million loan that is documented in writing
and is secured by real estate owned or to-be-
acquired by the organization. The agreement
is an individual mortgage loan and is exempt
from coverage under paragraph (c)(1) of this
section, regardless of the interest rate on the
loan or whether the organization intends or
is authorized to re-loan the funds to a third
party.
(2) Example 2. An insured depository
institution commits to provide a $500,000
line of credit to a small business that is
documented by a written agreement. The
loan is made at rates that are within the range
of rates offered by the institution to similarly
situated small businesses in the market and
the loan documentation does not indicate
that the small business intends or is
authorized to re-lend the borrowed funds.
The agreement is exempt from coverage
under paragraph (c)(2) of this section.
(3) Example 3. An insured depository
institution offers small business loans that
are guaranteed by the Small Business
Administration (SBA). A small business
obtains a $75,000 loan, documented in
writing, from the institution under the
institution’s SBA loan program. The loan
documentation does not indicate that the
borrower intends or is authorized to re-lend
the funds. Although the rate charged on the
loan is well below that charged by the
institution on commercial loans, the rate is
within the range of rates that the institution
would charge a similarly situated small
business for a similar loan under the SBA
loan program. Accordingly, the loan is not
made at substantially below market rates and
is exempt from coverage under paragraph
(c)(2) of this section.
(4) Example 4. A bank holding company
enters into a written agreement with a
community development organization that
provides that insured depository institutions
owned by the bank holding company will
make $250 million in small business loans in
the community over the next 5 years. The
written agreement is not a specific contract
or commitment for a loan or an extension of
credit and, thus, is not exempt from coverage
under paragraph (c)(2) of this section: Each
small business loan made by the insured
depository institution pursuant to this
general commitment would, however, be
exempt from coverage if the loan is made at
rates that are not substantially below market
rates and the loan documentation does not
indicate that the borrower intended or was
authorized to re-lend the funds.
(e) Agreements that include exempt
loan agreements. If an agreement
includes a loan, extension of credit or
loan commitment that, if documented
separately, would be exempt under
paragraph (c) of this section, the exempt
loan, extension of credit or loan
commitment may be excluded for
purposes of determining whether the
agreement is a covered agreement.
(f) Determining annual value of
agreements that lack schedule of
disbursements. For purposes of
paragraph (a)(3) of this section, a multi-
year agreement that does not include a
schedule for the disbursement of
payments, grants, loans or other
consideration by the insured depository
institution or affiliate, is considered to
have a value in the first year of the
agreement equal to all payments, grants,
loans and other consideration to be
provided at any time under the
agreement.
§ 346.3 CRA communications.
(a) Definition of CRA communication.
A CRA communication is any of the
following—
(1) Any written or oral comment or
testimony provided to a Federal banking
agency concerning the adequacy of the
performance under the CRA of the
insured depository institution, any
affiliated insured depository institution,
or any CRA affiliate.
(2) Any written comment submitted to
the insured depository institution that
discusses the adequacy of the
performance under the CRA of the
institution and must be included in the
institution’s CRA public file.
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