Summary: | The federal bank regulatory agencies are seeking comment on the attached proposed rule regarding the Community Reinvestment Act (CRA). The rule would reduce regulatory burden for banks with assets between $250 million and $1 billion, while encouraging meaningful community development loans, investments and services by these banks in their communities. Comments must be received by May 10, 2005. |
Highlights:
For banks with assets between $250 million and $1 billion, the proposal would:
Continuation of FIL-21-2005
Distribution:
Suggested Routing:
Note:
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Financial
Institution Letters
FIL-21-2005 March 22, 2005 |
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Community
Reinvestment Act
The Federal Deposit Insurance Corporation (FDIC), the Board of Governors of the Federal Reserve System, and the Office of the Comptroller of the Currency (the agencies) have issued the attached joint notice of proposed rulemaking regarding the Community Reinvestment Act (CRA) regulations. The new proposal would raise the small bank asset-size threshold from less than $250 million in assets to less than $1 billion in assets, without consideration of any holding company affiliation, and adjust this threshold annually based on the Consumer Price Index. The proposal is in response to public comments received by the FDIC on its August 2004 CRA proposal and by all the agencies on the interagency CRA proposal in February 2004. The agencies are seeking comment on this proposed rule, which would reduce regulatory burden for banks between $250 million and $1 billion in assets, while encouraging meaningful community development loans, investments and services by these banks in their communities. Comments must be received by May 10, 2005. For banks between $250 million and $1 billion in assets (intermediate small banks), the proposal would:
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Additional Related Topics:
- 12 C.F.R. Part 345 Community Development Credit
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